| Key Points: – TON Foundation secured over $400 million from top venture capital firms to enhance its blockchain ecosystem. – TON aims to onboard 30% of Telegram users by 2028 through DeFi solutions, in-app collectibles, mini-games, and payment applications. |
The Open Network Foundation (TON Foundation) has announced a major investment of over $400 million in its native cryptocurrency, Toncoin (TON), from a consortium of venture capital firms.
Leading investors include Sequoia Capital, Ribbit, Benchmark, Kingsway, Vy Capital, Draper Associates, Libertus Capital, CoinFund, Hypersphere, SkyBridge, and Karatage, among others.
TON Blockchain Secures Major Funding as Telegram Integration Fuels Expansion
Toncoin serves as the primary currency for The Open Network (TON), a decentralized layer-1 blockchain designed to support digital payments, decentralized applications (dApps), and network operations. The funding aims to drive further growth, enhance user adoption, and expand product development within the TON ecosystem.
A key driver of TON’s recent expansion has been its integration with Telegram, one of the world’s largest messaging platforms with over a billion active users. Earlier this year, TON became the underlying blockchain for Telegram’s Mini Apps Ecosystem, enabling developers to build financial services and interactive applications directly within Telegram.
As a result, TON’s user base has grown significantly. Over the past year, the blockchain has recorded more than 40 million active users, with Toncoin holders surpassing 121 million, according to a statement from TON Foundation.
Strategic Plan Targets 30% of Telegram Users by 2028
Looking ahead, TON Foundation aims to onboard 30% of Telegram’s active user base—approximately 450 million people—onto its blockchain by 2028. The strategy focuses on four core areas:
- Leveraging Telegram’s in-app features such as stickers, gifts, and on-chain collectibles to attract new users.
- Launching multiplayer mini-games with built-in incentives to increase engagement.
- Expanding decentralized finance (DeFi) solutions that provide accessible savings options with sustainable returns.
- Developing real-world payment applications that enhance the utility of cryptocurrency.
By capitalizing on Telegram’s extensive reach and user-friendly interface, TON aims to make blockchain adoption seamless for mainstream audiences.
Beyond direct blockchain expansion, former TON Foundation members Ian Wittkopp and Inal Kardan recently launched TON Ventures, a venture capital fund focused on supporting startups within the TON ecosystem.
The fund, which raised $40 million last August, has invested in more than a dozen early-stage projects, including Catizen, Gamee, and TonUP, with an average investment size of $500,000 per project.
TON Ventures also participates in larger strategic deals, providing capital to later-stage companies entering the TON ecosystem. Investment terms for these deals are determined on a case-by-case basis, ensuring flexibility in supporting high-potential blockchain initiatives.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Other Posts
Latest
Press Release
Bybit Named Exclusive Payment Partner for Tomorrowland Brasil 2025-26, Launches Cardholder Presale
As ETH Sepolia Issue Worries Grow & AVAX Faces Bearish Signal, BlockDAG’s $205M Raise & SpaceDev Deal Lead the Way
