WEB3
by BSCN
June 20, 2024
The new fund, called "Pantera TON Investment Opportunity," invites investors to participate with a minimum investment of $250,000.
Crypto venture capital firm Pantera Capital is raising funds for a new investment in The Open Network's Toncoin (TON), doubling down on its previous bet on the token, according to a recent report from The Block.
Pantera Capital has announced the launch of a new fund, dubbed the "Pantera TON Investment Opportunity," aimed at purchasing more TON tokens. According to an email seen, Pantera is inviting potential investors to participate in this round of funding. The email states, "We are inviting you to participate in the upcoming round of this investment opportunity."
Potential investors were required to indicate their interest by June 21 to secure an allocation in the fund, with a minimum investment requirement of $250,000.
This new fund follows Pantera's largest-ever investment in TON, which occurred in March. Although the specific deal terms were not disclosed, the email notes that the investment was made at a significant discount to the spot price. Pantera officially announced this investment in May.
Pantera Capital has expressed strong belief in TON's potential to drive mass adoption of cryptocurrency, largely due to its integration within the Telegram network.
"We believe TON has the capacity to introduce crypto to the masses because it is used extensively within the Telegram network," Pantera Capital stated.
TON is a Layer 1 blockchain network initially designed by the messaging platform Telegram and later continued by the open-source community. In February, Telegram unveiled a plan to share ad revenue with channel owners, paying rewards using the Toncoin token. This plan was recently implemented, allowing users to purchase in-platform ads with TON.
With over 900 million monthly active users and more than 1 trillion views in channels every month, Telegram's integration of TON aims to bring mass adoption of cryptocurrency. Telegram users can now also make Tether (USDT) stablecoin payments to each other through the TON network, thanks to a feature enabled by Tether and the TON Foundation last month.
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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