MEXC Ventures, Foresight Ventures, and Mirana Ventures have partnered to establish a fund aimed at supporting promising projects built on the Aptos platform, according to a press release shared with BSCN.

The fund is designed to accelerate the development of decentralized applications (dApps) and protocols that leverage Aptos' unique infrastructure. 

Foresight Ventures Co-Founder and CEO, Forest Bai, noted that Aptos developers are tackling critical challenges faced by the broader blockchain community. Bai said that this new fund represents just the beginning of Foresight Ventures' commitment to backing innovative projects within the Aptos ecosystem.

Supporting Key Web3 Projects

The fund aims to offer financial and resource-based support to developers who are building projects that utilize Aptos' technology. It will reportedly play a pivotal role in Aptos' ecosystem expansion by encouraging innovation and engagement through initiatives like the Aptos Code Collision, the flagship hackathon program for the Aptos community.

The Aptos Code Collision was designed to promote creativity and recognize outstanding projects and developers. Foresight Ventures, MEXC Ventures, and Mirana Ventures are placing themselves as key players in nurturing the development of Aptos ecosystem by supporting these hackathons.

"This ecosystem fund will fuel the next phase of growth for protocols, projects, and platforms on Aptos," said David Toh, Managing Partner at Mirana Ventures, highlighting the network's non-EVM environment as a key differentiator.

Expanding Bitcoin's Role in Aptos

Apart from venture capital funding, Aptos has recently caught the attention for its integration with Stacks, Bitcoin's layer-2 solution. This integration will allow Bitcoin to be used across dApps built on the Aptos network. The key to this integration is sBTC, a 1:1 BTC-backed asset that enables Bitcoin transactions on layer-2 networks like Stacks.

The introduction of sBTC to the Aptos ecosystem is expected to create new use cases for Bitcoin in areas such as gaming, artificial intelligence, social platforms, DeFi, and NFT marketplaces. 

Adding further momentum to Aptos’ rapid ecosystem growth, Ripple recently partnered with Aptos Labs and Hedera to launch the DLT Science Foundation (DSF). This non-profit initiative aims to promote blockchain technology adoption across industries and academia. 

One of the first initiatives of the DSF is the launch of the MiCA Crypto Alliance, which seeks to improve coordination among industry players to navigate the regulatory landscape in the European Union (EU).