WEB3
by BSCN
August 14, 2024
The launch comes as the TON ecosystem experiences significant growth, surpassing Ethereum in daily active users and attracting attention from major venture capital firms.
Former senior members of the TON Foundation have launched TON Ventures, a $40 million fund aimed at fostering early-stage crypto projects within the TON ecosystem.
This venture capital group is expected to become a critical force in driving innovation and adoption across the TON blockchain, particularly in the area of consumer applications and Web3 gaming.
TON Ventures is led by Ian W., former Director of the TON Accelerator, and Inal K., former Gaming Lead at the TON Foundation. Both have been instrumental in developing successful TON-based Web3 games like Catizen and Gatto, as well as the perpetual exchange Tradoor.
According to Ton Foundation, they are ideally positioned to identify and nurture high-potential projects that could leverage TON's unique capabilities, including its integration with Telegram, a popular messaging app with over 900 million users.
The fund aims to empower founders with the tools, infrastructure, and support necessary to build applications capable of achieving mass adoption.
As part of the team's approach to investment, selected projects benefit from their global network, hands-on support, and growth opportunities offered by Telegram's advertising channels and TON experiments.
“We’re not just investing in projects; we’re building the future,” said Ian W., Managing Director of TON Ventures. “Our focus is on consumer applications that harness the power of Telegram’s social features and Mini Apps, creating opportunities for mass adoption and long-term sustainability.”
TON Ventures has already made significant contributions to the ecosystem. It has invested in more than a dozen startups, including Catizen, Tradoor, and Evaa Protocol.
The average investment from TON Ventures is $500,000 for early-stage projects, though the firm is open to participating in larger, strategic deals as well.
TON’s integration with Telegram is one of its advantages, offering a seamless entry point for millions of users into the blockchain space. This integration is crucial for gaming, where TON’s scalable and efficient infrastructure can handle millions of transactions per second, essential for real-time multiplayer experiences.
Games like Notcoin, which attracted 35 million players in just three months, and Hamster Kombat demonstrate the potential of TON-based games to reach vast audiences quickly.
This unique relationship with Telegram allows for easy in-game purchases and interactions, making mobile gaming more accessible to Telegram’s massive user base.
Venture capital firms like Pantera Capital, Kingsway Capital, Ryze Labs, and Animoca Brands have all invested in Toncoin (TON), the native token of the TON blockchain.
The launch of TON Ventures comes at a time of rapid growth for the TON ecosystem. In recent months, TON has surpassed Ethereum in daily active users, with total assets on the platform soaring from $71 million at the start of the year to $1.14 billion by July.
The rise of tap-to-earn gaming in 2024 has played a significant role in this growth, drawing hundreds of millions of new users into the Web3 space.
Disclaimer
Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article
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