The fund will create an accelerator program to
foster the growth of key projects on Aptos related to
infrastructure, DeFi protocols, real-world assets,
GameFi and more.
SINGAPORE, Aug. 1, 2024
/PRNewswire/ -- OKX Ventures, the investment arm of leading
crypto exchange and Web3 technology company OKX,
and Aptos Foundation, a global blockchain leader, today jointly
announced the launch of a new USD $10
million fund aimed at supporting the growth of the Aptos
ecosystem and widespread adoption of Web3.
The fund will be used to develop an accelerator program,
operated in partnership with Ankaa and intended to bolster the
growth of quality projects and applications built on Aptos - a
scalable Layer 1 Proof-of-Stake (PoS) blockchain that uses the Move
programming language to make on-chain transactions more reliable,
easier-to-use, and secure. The accelerator will provide selected
Aptos ecosystem projects with venture support, focused mentorship,
go-to-market exposure, and access to the extensive network of
experts from OKX, Ankaa and Aptos Foundation combined.
A panel of judges from the Aptos Foundation, OKX Ventures and
Ankaa teams will kick off the program by choosing five promising
projects to include in this September's inaugural accelerator
cohort. Ankaa will serve as the initial investor in accepted
projects and run the accelerator's daily operations. The
accelerator's key focus areas will initially include, but are not
limited to, infrastructure, DeFi, RWA, gaming, social,
AI, and other dApps critical to the growth and
evolution of the Aptos ecosystem and Web3 in general.
Over the past two years, OKX Ventures has invested in over 300
projects across five continents with a fund size of approximately
USD $1 billion, covering almost all
investment tracks. Through the partnership with Aptos Foundation,
OKX Ventures aims to double down its support and exploration of
cutting-edge blockchain innovation and high-quality projects,
committing to driving long-term value for the ecosystem.
Partner of OKX Ventures Jeff Ren said: "We see immense potential
in Aptos, particularly due to its use of the Move programming
language – a game-changer for creating secure and efficient smart
contracts in the DeFi space. As we witness the next
wave of adoption – spurred not only by the Ethereum
and Bitcoin networks but beyond – we're enthusiastic
about the prospect of Aptos becoming a major player in the
blockchain space. We're fully committed to supporting Aptos
ecosystem projects that enhance the fundamental infrastructure of
the blockchain and Web3 space, and warmly welcome all interested
developers to reach out to us."
Head of Grants and Ecosystem at Aptos Foundation Bashar Lazaar
said: "OKX Ventures' vast network and robust expertise in
supporting virtually all areas of the Web3 space is an invaluable
resource for the Aptos ecosystem. The team's commitment to
fostering a conducive environment for innovation and growth aligns
perfectly with our vision for Aptos. We're excited to leverage
their insights and resources to further foster the development of
the Aptos ecosystem, and get some incredible projects off the
ground."
"With OKX and Aptos Foundation at the helm, this joint ecosystem
growth fund and accelerator will prove critical to cementing Aptos
as the Move-based L1 to prove out elusive use cases and onboard
Web2 developers into Web3," said Mo
Shaikh, CEO of Aptos Labs, a member of the Aptos ecosystem
that will be providing blockchain support and advisory efforts for
the joint accelerator.
Applications for the Ankaa accelerator programare set to open
this August. OKX Ventures, Aptos Foundation, and Ankaa welcome
all interested developers and projects to connect with their teams
via https://ankaalabs.typeform.com/accelerator
For further information, please
contact:
Media@okx.com
About OKX Ventures
OKX Ventures is the investment arm of leading
crypto exchange and Web3 technology company OKX, with
an initial capital commitment of USD 100
million. It focuses on exploring the best blockchain
projects on a global scale, supporting cutting-edge blockchain
technology innovation, promoting the healthy development of the
global blockchain industry, and investing in long-term structural
value.
Through its commitment to supporting entrepreneurs who
contribute to the development of the blockchain industry, OKX
Ventures helps build innovative companies and brings global
resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
About Aptos Foundation
Aptos Foundation is dedicated to supporting the development of
the Aptos protocol, decentralized network and
ecosystem and driving engagement with the Aptos ecosystem. By
unlocking a blockchain with seamless usability, Aptos Foundation
aims to bring the benefits of decentralization to the masses.
About Aptos Network
Aptos is a next-generation Layer 1 blockchain. Aptos'
breakthrough technology and programming language, Move, are
designed to evolve, improve performance and strengthen user
safeguards. Please visit https://www.aptosfoundation.org for more
information on the Aptos blockchain.
About Ankaa
Ankaa, the web3 accelerator co-launched by Aptos and OKX
Ventures and ALCOVE, is committed to fostering innovation and
helping founders to thrive in Web3. Founded by experienced
entrepreneurs and tech leaders from top Web2 and Web3
companies, Ankaa supports early-stage Web3 startups with
funding, mentorship, and resources. Ankaa's mission is to help
visionary founders create blockchain applications building
real-world use cases for mass adoption. Ankaa turns innovative
ideas into leading products, shaping the future of the
decentralized economy.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/okx-ventures-and-aptos-foundation-jointly-launch-ecosystem-growth-fund-and-accelerator-to-boost-aptos-ecosystem-growth-302212099.html
SOURCE OKX Ventures