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In the world of cryptocurrencies and blockchain technology, innovation is the key to success, and one of the leaders in this sector, OKX Ventures, took a strategic step towards supporting the development The Open Network (TON)On December 10, 2024, OKX Ventures announced a $5 million investment in the fund TON Ventures. This decision aims to support the further development of the TON ecosystem, especially in the area of decentralized applications (dApps) that leverage the potential of Telegram and the TON blockchain. The aim of the investment is to create a network of experienced developers who will develop best practices in creating applications on TON.
The Battle for Web3 Application Market Dominance
Between blockchains, and especially in the context of the Telegram ecosystem, TON shows extraordinary potential in the Web3 app market. With close to 950 million monthly active users and developing mini-apps such as Notcoin, OKX Racer, Czy Catizen, TON is gaining importance as a foundation for mass adoption of blockchain technology among Telegram users.
OKX Ventures has invested in TON Ventures to build a strong community of developers who will be responsible for the development of applications running on TON in the future. This investment will aim to accelerate the development of the decentralized application market, including in the area of decentralized finance (DeFi), games, economy of creators and infrastructure.
TON Ventures: Accelerated App Development on TON
TON Ventures, led by former leaders TON Foundation - Ian Wittkopp i Inal Kardan, is dedicated to supporting early-stage startups that build on TON. The fund, which already has $40 million in seed funding, invests an average of up to $500 in startups that introduce innovative solutions.
Among the first supported projects are platforms such as: DeLabs i Goat Gaming, and infrastructure for the creator economy, such as Memetics, which enables Telegram communities to create mini-ecosystems. TON Ventures also supports AI applications such as Grabs, which use TON and Telegram to collect data for AI models.
OKX Ventures and TON Ventures Collaboration: New Perspectives for the Web3 Ecosystem
Jeff Ren, partner in OKX Ventures, noted that the investment is part of a long-term commitment to supporting the TON ecosystem. “As one of the early supporters of TON, our investment in TON Ventures aims to foster the growth of an ecosystem of highly experienced developers who will create Telegram-native apps that are aligned with best practices and user requirements,” Ren said.
Ian Wittkopp, partner in TON Ventures, added: “The team OKX Ventures was an early advocate of the value TON brings, and we are excited to deepen our partnership with them to grow the Web3 app community and attract millions of users.”
What changes will this investment bring?
OKX Ventures investment in TON Ventures is not only a financial contribution but also a strategic support for developers and application creators on TON. Through this cooperation, the TON ecosystem has a chance for accelerated development, which in turn will help in expanding its adoption. Opportunities such as decentralized finance i decentralized applications have the potential to become the foundation of global markets.
In the long run, TON could become one of the leading chains for Web3 applications, and Telegram and its 950 million users will be key participants in this revolution.
Summary: What does this investment mean for the market?
Investing $5 million in TON Ventures by OKX Ventures has a significant impact on the development of the TON ecosystem, especially in the context of developing Web3 applications. Thanks to this investment, TON gains access to capital that will allow it to accelerate the implementation of innovative solutions. If the project maintains the pace of development, it can become one of the key players in the cryptocurrency and decentralized technology market. The development of infrastructure for games, DeFi and the creator economy, supported by the TON ecosystem, will certainly attract investors and developers who want to use the potential of this dynamic market.
Technical data of TON (The Open Network – TON):
- Official page: TON.org
- Live quotes: CoinMarketCap TON
Links to OKX Ventures:
- OKX Ventures Official Website: OKX Ventures
- OKX Quotes: CoinMarketCap OKX
Links to TON Ventures:
- TON Ventures Official Website: TON Ventures
- MiCA Report: MiCA – European Commission
