SUMMARY
- Bitget and Foresight Ventures have invested $30 million in The Open Network (TON) blockchain to support its growth.
- The funds will primarily focus on advancing Telegram-based projects, including tap-to-earn games like Hamster Kombat and Notcoin.
Cryptocurrency exchange Bitget and Foresight Ventures have reported a noteworthy $30 million investment in The Open Network (TON) blockchain, aimed at reinforcing the advancement of Telegram-based projects. This vital investment is expected to improve the ecosystem encompassing tap-to-earn games, which includes prevalent titles such as Hamster Kombat and Notcoin, which have recently involved millions of users with their imaginative approach to earning cryptocurrency tokens.
The essential objective of this investment is to bolster the development and evolution of the TON blockchain, with a specific focus on projects that use Telegram’s extensive user base. Concurring to a statement from the companies, the $30 million will be distributed through the acquisition of TON tokens. This move is anticipated to strengthen Bitget’s and Foresight Ventures’ association in the governance and future advancement of the TON blockchain.
Telegram-based video games, such as Hamster Kombat and Notcoin, have gained notable influence in recent months by offering users the opportunity to earn crypto tokens through gameplay. These games have proven effective in engaging a wide global audience, highlighting the potential for mass adoption of blockchain technology within the Telegram ecosystem. The investment is set to further develop these ventures and explore more opportunities within the growing web3 space, which has seen considerable development as Telegram continues to extend its offerings for web3 startups.
Forest Bai, Chairman of The Block and co-founder of Foresight Ventures, highlighted the significance of this investment by expressing that the surge in the TON ecosystem represents one of the most significant opportunities in the cryptocurrency market this year. The collaboration between Telegram and the TON blockchain, although they work independently, embodies how closely aligned the messaging app and the blockchain protocol are in progressing their respective goals.
The $30 million investment by Bitget and Foresight Ventures into the TON blockchain highlights a key commitment to progressing Telegram-based blockchain projects and tapping into the growing potential of the web3 division. With this funding, the involved parties aim to use the developing popularity of tap-to-earn games and strengthen the overall framework of the TON ecosystem, situating it for further success and broad adoption.