On August 1, 2024, the investment division of OKX, a leading cryptocurrency exchange and Web3 technology company, OKX Ventures, and global blockchain leader Aptos Foundation announced a joint launch of a new $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 collaboration with Ankaa, designed to drive the growth of high-quality projects and applications based on Aptos. Aptos is a scalable Layer 1 PoS blockchain that uses the Move programming language to make on-chain transactions more reliable, user-friendly, and secure. The accelerator will provide selected projects within the Aptos ecosystem with risk support, focused guidance, marketing exposure, and access to a joint expert network from OKX, Ankaa, and the Aptos Foundation.
A panel consisting of members from the Aptos Foundation, OKX Ventures, and Ankaa team will select 5 promising projects to be included in the first batch of accelerator projects in September this year. Ankaa will act as the initial investor for the selected projects and will be responsible for the daily operation of the accelerator. The initial focus areas of the accelerator will include but are not limited to infrastructure, DeFi, RWA, gaming, social, AI, and other DApps crucial for the development and evolution of the Aptos ecosystem and Web3.
Over the past two years, OKX Ventures has invested in over 300 projects across five continents, covering almost all sectors, with a fund size of around $1 billion. Through the collaboration with the Aptos Foundation, OKX Ventures aims to increase support and exploration of cutting-edge blockchain innovations and high-quality projects, striving to drive long-term value for the ecosystem.
Jeff Ren, a partner at OKX Ventures, stated, “We see tremendous potential in Aptos, especially because it uses the Move programming language – a game-changer in creating secure and efficient smart contracts in the DeFi space. With the next wave of adoption driven by the Ethereum and Bitcoin networks on the horizon, we are excited about Aptos becoming a key player in the blockchain space. We are fully committed to supporting Aptos ecosystem projects, enhancing the infrastructure of the blockchain and Web3 space, and warmly welcome all interested developers to reach out to us.”
Bashar Lazaar, Head of Grants and Ecosystem at Aptos Foundation, said, “The vast network and strong expertise of OKX Ventures in the Web3 space are invaluable for the Aptos ecosystem, as their team is dedicated to creating a conducive environment for innovation and growth, aligning perfectly with our vision for Aptos. We are pleased to further drive the development of the Aptos ecosystem through their insights and resources and facilitate the implementation of some highly innovative projects.”
Mo Shaikh, CEO of Aptos Labs, commented, “Aptos Labs is a member of the Aptos ecosystem and will provide blockchain support and advisory work for the joint accelerator. Under the leadership of OKX and the Aptos Foundation, this joint ecosystem growth fund and accelerator are crucial for solidifying Aptos’ position as an L1 based on Move, validating new use cases, and transitioning Web2 developers into Web3.”
Applications for the Ankaa accelerator program will open in August this year. OKX Ventures, Aptos Foundation, and Ankaa welcome all interested developers and projects to contact the team via https://ankaalabs.typeform.com/accelerator.
About OKX Ventures
OKX Ventures is the investment arm of OKX, a leading cryptocurrency exchange and Web3 technology company, with an initial capital of $1 billion. It focuses on discovering the best blockchain projects globally, supporting cutting-edge blockchain technology innovations, promoting the healthy development of the global blockchain industry, and investing in long-term structural value. OKX Ventures is committed to supporting entrepreneurs who contribute to the development of the blockchain industry, helping them build innovative companies, and bringing global resources and rich experience to their projects. Visit https://www.okx.com/zh-hant/ventures for more information.
About Aptos Foundation
The Aptos Foundation is dedicated to supporting the development of the Aptos protocol, decentralized network, and ecosystem, and driving interaction with the Aptos ecosystem. By unlocking a blockchain with seamless usability, the Aptos Foundation aims to bring the benefits of decentralization to the public.
About Aptos Network
Aptos is a next-generation Layer 1 blockchain. Aptos’ groundbreaking technology and Move programming language are designed to continuously evolve, enhance performance, and strengthen user protection. Visit https://www.aptosfoundation.org for more information about the Aptos blockchain.
About Ankaa
Ankaa is a Web3 accelerator launched jointly by Aptos, OKX Ventures, and ALCOVE, dedicated to promoting innovation and helping founders thrive in Web3. Founded by experienced entrepreneurs and technology leaders from top Web2 and Web3 companies, Ankaa provides early-stage Web3 startups with funding, guidance, and resource support. Ankaa’s mission is to help visionary founders create blockchain applications, build real-world use cases for mass adoption, and transform innovative ideas into leading products, shaping the future of the decentralized economy.
Disclaimer
This article is for reference only and represents the author’s views, not those of OKX. This article is not intended to provide (i) investment advice or recommendations; (ii) solicitations or solicitations to buy, sell, or hold digital assets; (iii) financial, accounting, legal, or tax advice. Consult your legal/tax/investment professional for your specific situation. Please take responsibility for understanding and complying with relevant local laws and regulations.
