⚡ OKX Announces a $5 Million Investment in TON Ventures
posted 10 Dec 2024
OKX Ventures, the investment arm of the crypto exchange OKX, announced a $5 million investment in the TON ecosystem (The Open Network).
In a press release published on December 10, the VC stated that the fund is dedicated to accelerating the growth of the TON blockchain and supporting the development of Telegram-native applications.
Earlier, in October, OKX Ventures launched a $10 million Telegram Growth Hub together with TON and Folius Ventures.
The goal of the hub is to fund and support projects that drive user engagement on TON, with a focus on three main areas: intuitive UI/UX and educational tools, development of on-chain trading features, and expansion of games and other mini-apps.
OKX Ventures announced that with this recent funding, they have deepened their commitment to supporting TONâs development.
The TON blockchain was initially created by Telegram founders Pavel and Nikolai Durov, designed to integrate with Telegram's services. However, in 2020, Telegram abandoned the project due to regulatory issues.
Since then, TONâs development has been carried forward by open-source developers and the blockchain community. Despite this, the project continues to work toward integrating blockchain with Telegram.
In 2023, Telegram and TON announced the launch of mini-apps running inside Telegram. Games like Hamster Kombat and others quickly gained popularity.
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