The Aptos Foundation, in collaboration with OKX Ventures, has announced a new $10 million fund to support projects on the Aptos blockchain.

This joint fund, named Ankaa, is designed to develop an accelerator program aimed at bolstering the growth of projects built on the Aptos blockchain. The accelerator will offer selected projects venture support, focused mentorship, go-to-market exposure, and access to an extensive network of experts.

“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 layer-1 to prove out elusive use cases and onboard web2 developers into web3,” said Aptos Labs CEO Mo Shaikh.

The initial focus of the fund will be on key areas such as infrastructure, decentralized finance, real-world assets, gaming, social platforms, and artificial intelligence. However, it remains open to other decentralized applications deemed critical to the growth and evolution of the Aptos ecosystem and web3 in general.

Jeff Ren, a partner at OKX Ventures, emphasized the immense potential in Aptos, describing the Move programming language as a “game-changer for creating secure and efficient smart contracts.”

Despite the announcement, Aptos has seen a 4% decline in its trading value, currently at $6.33. This drop comes as the ecosystem prepares to unlock over 11.3 million APT on Aug. 12, which represents more than 2.4% of its circulating supply.

Stay tuned to Global Crypto News for more updates on the latest developments in the cryptocurrency, investing, and finance space.

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