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Key Takeaways:
With a $400 million funding round from the TON Foundation, this investment is a vital endorsement, as institutional support is a vote of confidence in its vision.
The synergy with Telegram’shuge user base offers unprecedented growth opportunities for the TON ecosystem.
The funds will accelerate expansion into DeFi, gaming and digital asset tokenization with the promise of onboarding a significant portion of Telegram’s user base.
The Open Network Foundation (TON), the organization behind the TON blockchain, has raised over $400 million in a token investment round.
A Vote of Confidence from Venture Capital Giants
Prominent venture capital firms including Sequoia Capital, Ribbit, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere, and Karatage participated in the round. The investment means that these firms have secured Toncoin tokens, which are the native cryptocurrency of the TON blockchain, and according to the TON Foundation, it’s an investment that marks a strategic partnership, ultimately aimed at accelerating the growth of the TON network.
The degree of institutional support is emblematic of a larger trend of swelling venture capital flows into blockchain ventures, propelled by an expanding acceptance of their usefulness and promise. According to Simon Wu, a Cathay Innovation partner, crypto and blockchain solutions are now emerging as strong solutions, specifically in financial sectors such as asset management, transaction and tokenization.
Billion-User Ecosystem within Telegram — A Platform for TON Growth
The secret of TON’s success stems from its partnership with Telegram, a popular messaging platform used by over 1 billion monthly active users. This partnership establishes TON as the underlying blockchain for Telegram’s future Web3 ambitions. As of January 2025, Toncoin is the sole cryptocurrency for app-related transactions on Telegram.
In March, Telegram’s monthly active users reached 1 billion, doubling in less than three years. Source: Demandsage
This has already yielded remarkable results, as it shows how taking advantage of an existing user base is a game-changer, even, or especially, with regard to the adoption of blockchain-based technology. Over the past 12 months, the number of active accounts on the TON network has exploded from 4 million to 41 million. Notably, the number of Toncoin holders has just surpassed the 121 million mark.
Expanding The Ecosystem: Onboarding Millions To TON
Following on this momentum, the TON Foundation has announced an even more ambitious goal: to onboard 30% of Telegram’s monthly active users—about 450 million people—onto the TON blockchain by 2028. The Foundation’s effort to grow its ecosystem will be focused on several key areas of interest, such as decentralized finance (DeFi), multiplayer mini-games, and in-app payment solutions. In addition, TON will enable the use of on-chain collectibles and rewards, further diversifying the ways users can engage and participate in the ecosystem. A promising future could allow stickers and emojis to be minted as non-fungible tokens (NFTs), exclusively on the TON blockchain.
Shaun Maguire, a Sequoia Capital partner, said he was optimistic about the future of TON, adding that the TON team is the right mix of thinking about consumer product and thinking about a crypto infrastructure.
Strategic Allocation of Funds: Fueling Ecosystem Growth
The newly acquired $400 million investment will be deployed across three key sectors, all aimed at fostering intergenerational growth and adoption of the TON blockchain:
User acquisition: Harnessing the massive reach of Telegram to onboard millions of new users into the TON ecosystem through targeted marketing campaigns, educational initiatives, and onboarding programs.
Developers Incentives: Grants, technical assistance, mentorship programs to enable developers to build innovative and engaging decentralized apps (dApps) on the TON blockchain.
Product Development: Enhancing the relevance and use cases of Toncoin in the Telegram ecosystem and outside. This includes improving Toncoin payment functionalities, which could extend its usage within the DeFi space and enable the creation of various digital assets.
This well-planned allocation of resources further solidifies TON as a leader in blockchain, leveraging its collaboration with Telegram and the increasing demand for DAOs/DeFi.
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