🚀 Bitget Wallet and Foresight Ventures Invest $20 Million in TON
posted 11 Nov 2024
Bitget Wallet, a non-custodial crypto wallet by Bitget, is leading an initiative to advance crypto projects within Telegram. Together with the venture fund Foresight Ventures, Bitget has allocated $20 million to support developers of Mini Apps on Telegram.
Telegram, now one of the most popular messaging apps, has seen in-app applications emerge as a major marketing breakthrough in 2024. Bitget has already integrated its wallet into Telegram and appears focused on creating new development opportunities.
Bitget and Foresight Ventures Aim to Renew Interest in TON
While mini apps like Notcoin and Hamster Kombat have driven innovation within the TON ecosystem, the blockchain has faced declining user interest. Since August 2024, TON's total value locked (TVL) has halved, dropping from $760 million to $370 million.
TVL of The Open Network. Source: defillama.com
Notably, Bitget Wallet’s Telegram app reached 6 million new users within just three days of launch. Projects supported by Bitget are expected to integrate with the exchange's wallet, which could help revitalize interest in TON.
The Bitget Wallet initiative includes technical support, access to the OmniConnect developer toolkit, and operational and marketing assistance for project founders, along with access to Bitget Wallet’s user base.
The program also offers projects the potential for strategic partnerships with major Telegram Mini Apps, listings on Bitget, and ongoing investment support from Foresight Ventures.
In September 2024, Bitget and Foresight Ventures also announced a strategic $30 million investment in the TON blockchain.
In September 2024, Bitget and Foresight Ventures also announced a strategic $30 million investment in the TON blockchain.
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