Aptos Foundation, the creator of the Aptos Layer-1 blockchain and OKX Ventures, the VC branch of Seychelles-based crypto exchange OKX have announced a joint $10 million ecosystem growth fund.
OKX Ventures is bringing the cash 💰
Stoked to share that @OKX_Ventures and Aptos have partnered to pool $10 million for an Aptos ecosystem fund and to kick off the @ankaalabs accelerator program. https://t.co/LIZexXbdsZ
— Mo Shaikh 🌐 aptOS (@moshaikhs) August 1, 2024
The fund aims to enhance the growth of the Aptos blockchain ecosystem by shipping quality products and bringing new users on-chain as a result. It is currently ranked 21st by total value locked (TVL), per data from DefiLlama.
Aptos Will Be Hoping Its New Growth Fund Can Give Its Ecosystem A Much Needed Shot In The Arm
OKX Ventures is bringing the cash 💰
Stoked to share that @OKX_Ventures and Aptos have partnered to pool $10 million for an Aptos ecosystem fund and to kick off the @ankaalabs accelerator program. https://t.co/LIZexXbdsZ
— Mo Shaikh 🌐 aptOS (@moshaikhs) August 1, 2024
The companies said in a press release that they will use the funds to create an accelerator program. The program will focus on quality projects and applications built on the Aptos blockchain and be operated in partnership with Paris-based VC firm Ankaa.
Aptos launched in October 2022, at the height of the bear market. It is a scalable Layer 1 Proof-of-Stake blockchain that uses the Move programming language to maintain the reliability, usability, and security of on-chain transactions.
Since yesterday’s announcement, Aptos has been -2.18%, currently trading at $6.27. It has a market cap of nearly $3 billion and has traded over $160 million in volume over the past 24 hours.
AI And RWA Two Of The Fund’s Key Focus Areas
The press release on the fund’s key focus areas reads, “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.”
Attention Builders, OKX Ventures is announcing 10M Fund and an Accelerator Program with Aptos, come and check out!!! https://t.co/RhwSokOoFe
— OKX Ventures (@OKX_Ventures) August 1, 2024
OKX Ventures has recently invested in projects like the decentralized machine learning protocol Flock.io and the SocialFi platform Mocaverse app. These investments underpin the VC’s commitment to these emerging sectors.
Over the past two years, OKX’s investment arm has invested in over 300 projects worldwide, with a fund size of approximately $1 billion.
Applications for the Ankaa accelerator program are set to open this August. The firm, along with Aptos and OKX Ventures, has called for all interested developers and projects to connect with their teams via https://ankaalabs.typeform.com/accelerator.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
