September 18, 2024
Bitget and Foresight Ventures have committed $30 million to The Open Network blockchain. This funding is intended to boost the development of Telegram-based projects, particularly those involving tap-to-earn games. Recently, casual games like Hamster Kombat and Notcoin have gained millions of users by offering crypto token rewards.
Project | Latest Raise | Latest Raise Date | Stage | Lead Investor | Category |
|---|---|---|---|---|---|
TON Blockchain | $30M | September 18, 2024 | Strategic Investment | BiTGET, Foresight Ventures | Layer 1 |
With this investment, Bitget and Foresight aim to become more involved in the governance and future plans of the TON blockchain. The funds will be used to acquire TON tokens. The projects based on TON are seen as a strong candidate for widespread adoption within the Telegram ecosystem, which has been growing rapidly and expanding its web3 startup offerings. According to Forest Bai, The Block Chairman and Foresight Ventures’ co-founder and CEO, the growth of the TON ecosystem is the most significant opportunity in the cryptocurrency market this year.
About TON Blockchain
The Open Network (TON) is a decentralized blockchain platform originally designed by Telegram. It aims to create a more open and accessible internet. TON offers ultra-fast transactions, low fees, and easy-to-use applications, making it ideal for various uses, including decentralized finance (DeFi) and gaming. The platform’s native cryptocurrency, Toncoin, is used for network operations and transactions. TON also integrates seamlessly with Telegram, allowing users to interact with blockchain features directly through the messaging app.
Website: https://ton.org/
About Investor
Bitget and Foresight Ventures.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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