According to TechFlow, OKX Ventures and Aptos Foundation announced the establishment of a joint $10 million fund to support the development of the Aptos ecosystem and promote the widespread application of Web3.

The funds will be used to develop an accelerator program, run in partnership with Ankaa, to foster the growth of high-quality projects and applications built on Aptos.

The accelerator will provide venture capital support, targeted guidance, marketing and expert network resources to selected Aptos ecosystem projects. A jury from Aptos Foundation, OKX Ventures and Ankaa will select five promising projects to participate in the first batch of accelerator programs in September.

Ankaa will serve as the initial investor for selected projects and be responsible for the daily operations of the accelerator. The accelerator's focus areas include infrastructure, DeFi, real assets (RWA), games, social, AI and other dApps that are critical to the development of the Aptos ecosystem and Web3.