Former members of the TON Foundation have launched a $40 million venture fund to support early cryptocurrency initiatives. The new fund aims to drive the next wave of innovation within the Open Network (TON) ecosystem.
This plan is a strategic support plan for TON, an ecosystem that integrates blockchain technology and the Telegram platform. By supporting emerging companies, the fund aims to accelerate the adoption of TON blockchain capabilities and expand their utility.
Former TON Foundation members launch venture capital organization
TON Ventures focuses on consumer applications that leverage Telegram’s social capabilities and the power of Telegram Mini Apps (TMA). The fund will support emerging projects and provide the infrastructure needed to create sustainable applications that enable mass adoption.
“By providing opportunities for TON builders, we support ambitious startups leveraging TON and Telegram’s unique design space to create unique products,” the fund’s website states.
In addition to financial support, projects supported by this measure will receive valuable resources. Winners will benefit from an experienced team, global network and practical guidance designed to help them succeed. In addition, Tone Ventures will provide Telegram advertising and the opportunity to conduct exclusive growth experiments within the ecosystem.
Learn More: The 6 Best Toncoin (TON) Wallets of 2024
TON ecosystem paves the way for blockchain development
A strategic checklist and strong partnerships are key drivers of the network’s continued success. It pioneered hundreds of features and grew to nearly 1 billion users. As the ecosystem approaches its 11th anniversary, we continue to introduce new features and enhance our growth trajectory.
“With today’s update, we’re continuing our tradition of giving back to the community. Explore Star Reactions and Star Subscriptions, which allow users to support paid media for content creators, bots, and business accounts, as well as Star Reactions and Star Subscriptions, which allow admins to post to other channels or profiles. The new model of Telegram channels. Telegram CEO Pavel Durov shared.
In addition, relying on word of mouth, TON is booming, with hundreds of millions of new users joining the Web 3.0 gaming space. Popular games connected to the TON ecosystem include Notcoin, TapSwap, Hamster Combat, and Cartigen. Additionally, DOGS, one of the ecosystem’s native meme coins, will be listed on OKX and several other exchanges.
Read more: 7 Games to Make Money with Telegram Tags in 2024
These games offer engaging mechanics and real-world rewards, demonstrating the potential of blockchain integration on the Telegram platform. With its new capital structure, TON Ventures can add to the bullish fundamentals in the ecosystem.
