Crypto exchange Bitget and investment firm Foresight Ventures have announced a $30 million investment in The Open Network (TON) blockchain.
Crypto exchange Bitget and investment firm Foresight Ventures have announced a $30 million investment in The Open Network (TON) blockchain.
This funding is specifically aimed at advancing the development of projects on the platform, particularly those integrated with Telegram.
The investment will focus on enhancing "tap-to-earn" games, which have gained significant traction within the Telegram ecosystem. Notable titles such as Hamster Kombat and Notcoin have attracted millions of users seeking to earn crypto tokens through casual gaming experiences.
In a joint statement, Bitget and Foresight Ventures indicated their plans to deepen their involvement in TON's governance and future development initiatives.
The investment will be allocated through the acquisition of TON tokens, which the companies believe will support the growing use cases within the Telegram ecosystem.
The TON blockchain has emerged as a prominent player in the crypto market, particularly due to its synergy with Telegram. While Telegram and TON operate independently, their relationship is strategic, facilitating the growth of web3 projects within the messaging platform.
Forest Bai, co-founder and CEO of Foresight Ventures, highlighted the potential of the TON ecosystem, describing it as a significant growth opportunity in the crypto landscape this year.
As Telegram continues to expand its offerings for web3 startups, the implications of this investment may influence the broader adoption of blockchain technology among its user base.
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