NEWSROOM

OKX Ventures and Aptos Foundation are launching a joint ecosystem development fund and accelerator programme to support the development of the Aptos ecosystem.

TURKEY - The fund will launch an acceleration programme on Aptos to foster the development of key projects in infrastructure, DeFi protocols, real-world assets (RWAs), GameFi and more.

Singapore, 1 August 2024 -- OKX Ventures, the investment entity of industry-leading crypto exchange and Web3 technology company OKX, and Aptos Foundation, a global blockchain leader, today announced the launch of a new $10 million fund aimed at supporting the growth of the Aptos ecosystem and widespread adoption of Web3.

The funding will be used to establish an accelerator programme in partnership with Ankaa to support the development of high-level 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, easy and secure. The programme will provide selected Aptos ecosystem projects with venture support, tailored mentoring, go-to-market and market-acquisition strategies, as well as access to OKX, Ankaa and the Aptos Foundation's extensive network of experts.

A panel of judges from Aptos Foundation, OKX Ventures and Ankaa will select five promising projects to be included in the first accelerator cohort this September. Ankaa will act as the initial investor in the accepted projects and will run the day-to-day operations of the accelerator programme. The accelerator programme will initially focus on infrastructure, DeFi, RWAs (real world assets), gaming, social platforms, artificial intelligence and other dApps critical to the growth and development of the Aptos ecosystem and Web3 in general, but the programme will not be limited to these areas.

OKX Ventures has invested in more than 300 projects across five continents in the last two years, and the value of its funds, which cover almost all investment areas, is approximately $ 1 billion. Through its partnership with Aptos Foundation, OKX Ventures is committed to creating lasting value for the ecosystem and aims to redouble its efforts to discover and support the latest blockchain innovations and top projects.

Jeff Ren, partner at OKX Ventures, said: "We see tremendous potential in Aptos. Its use of Move, a game-changing programming language for building secure and efficient smart contracts, is particularly impressive in the DeFi space. As we witness the next wave of adoption, driven not only by Ethereum and Bitcoin, but also other networks, we are excited about the prospect of Aptos becoming a key player in the blockchain space. We are committed to supporting the projects of the Aptos ecosystem that are developing the underlying infrastructure in the blockchain and Web3 space, and we invite all interested developers to reach out to us."

Bashar Lazaar, Director of Grants and Ecosystem at Aptos Foundation, said: "OKX Ventures' extensive network and solid expertise supporting almost all areas of the Web3 world is an invaluable resource for the Aptos ecosystem. The team's commitment to fostering a favourable environment for innovation and growth is perfectly aligned with our vision for Aptos. We are very excited about the opportunity to leverage their knowledge and resources to further accelerate the development of the Aptos ecosystem and realise great new projects."

Mo Shaikh, CEO of Aptos Labs, who will provide blockchain support and consultancy for the joint accelerator programme as a member of the Aptos ecosystem, said: "This joint ecosystem development fund and accelerator programme, led by OKX and the Aptos Foundation, will be critical in strengthening Aptos as a Move-based L1 to unlock hard-to-discover use cases and bring Web2 developers to Web3."

Applications for the Ankaa accelerator programme begin this August. OKX Ventures, Aptos Foundation and Ankaa invite all interested developers and projects to contact their teams via https://ankaalabs.typeform.com/accelerator.

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