On August 1, 2024, OKX Ventures, the investment arm of leading cryptocurrency exchange and Web3 technology company OKX, and global blockchain leader Aptos Foundation announced the launch of a new $10 million fund aimed at supporting the growth of the Aptos ecosystem and the widespread adoption of Web3.
The fund will be used to develop an accelerator program operated in partnership with Ankaa, with the goal of driving 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 Aptos ecosystem projects with risk support, focused guidance, market exposure through marketing campaigns, and access to a joint expert network from OKX, Ankaa, and Aptos Foundation.
A panel of judges composed of representatives from Aptos Foundation, OKX Ventures, and the Ankaa team will select five promising projects to be included in the first batch of accelerator projects in September of this year. Ankaa will serve as the initial investor for the selected projects and will be responsible for the day-to-day 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 that are critical to 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 areas, with a fund size of approximately $1 billion. Through collaboration with Aptos Foundation, OKX Ventures aims to increase support and exploration of cutting-edge blockchain innovation and high-quality projects, with a commitment to driving long-term value for the ecosystem.
Jeff Ren, partner at OKX Ventures, said, “We see tremendous potential in Aptos, especially because it uses the Move programming language, which is a game-changer for 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 the prospect of Aptos becoming a significant player in the blockchain industry. We are fully committed to supporting Aptos ecosystem projects and enhancing the infrastructure of the blockchain and Web3 space. We 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 to the Aptos ecosystem, and their team is committed to creating a favorable environment for innovation and growth, which aligns perfectly with our vision for Aptos. We are excited to further drive the development of the Aptos ecosystem and facilitate the implementation of innovative projects with their insights and resources.”
Mo Shaikh, CEO of Aptos Labs, said, “Aptos Labs, as a member of the Aptos ecosystem, will provide blockchain support and consulting work for the joint accelerator. Under the leadership of OKX and Aptos Foundation, this joint ecosystem growth fund and accelerator are crucial for consolidating the position of Aptos as an L1 based on Move, validating new use cases, and bringing Web2 developers into Web3.”
Applications for the Ankaa accelerator program will open in August of this year. OKX Ventures, Aptos Foundation, and Ankaa welcome all interested developers and projects to contact the team through 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 $100 million. It focuses on discovering the best blockchain projects globally, supporting cutting-edge technological innovations in the blockchain space, 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 extensive experience to their projects. Visit https://www.okx.com/zh-hant/ventures for more information.
About Aptos Foundation
Aptos Foundation is dedicated to supporting the development of the Aptos protocol, decentralized networks, and ecosystems, and driving interaction with the Aptos ecosystem. By unlocking 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, aim to continuously evolve, improve performance, and enhance user protection. Visit https://www.aptosfoundation.org for more information about the Aptos blockchain.
About Ankaa
Ankaa is a Web3 accelerator launched in collaboration with Aptos, OKX Ventures, and ALCOVE, dedicated to fostering innovation and helping founders thrive in Web3. Founded by experienced entrepreneurs and tech leaders from top Web2 and Web3 companies, Ankaa provides funding, guidance, and resource support to early-stage Web3 startups. Ankaa’s mission is to help visionary founders create blockchain applications, build real-world use cases for mass adoption. Ankaa aims to transform innovative ideas into leading products and shape the future of the decentralized economy.
Disclaimer
This article is for reference only and represents the author’s views, not the position of OKX. This article does not intend to provide (i) investment advice or investment recommendations; (ii) an offer or solicitation to buy, sell, or hold digital assets; or (iii) financial, accounting, legal, or tax advice. For your specific circumstances, please consult your legal/tax/investment professionals. Please take responsibility for understanding and complying with applicable local laws and regulations.
