The cryptocurrency exchange Bitget and Foresight Ventures have announced a $30 million strategic investment into The Open Network (TON).
The goal of this investment is to support projects on the popular messaging app Telegram, particularly games with a "tap-to-earn" revenue model. Games like Hamster Kombat and Notcoin have attracted millions of users in recent months with their token-earning opportunities.
The investment will be made through buying of TON tokens, according to the companies' statement. This would deepen Bitget and Foresight's involvement in the governance and development of the TON blockchain.
TON-based projects demonstrate significant potential for mass adoption through the Telegram ecosystem, which has expanded its offerings for Web3 startups in recent years.
"The growth of the TON ecosystem represents the most significant opportunity for growth in the cryptocurrency market this year," said Forrest Li, Chairman of The Block and Co-founder and CEO of Foresight Ventures.
Previously, TON has benefitted from the following investments:
- $10 million from DFW Labs
- $10 million from Cypher Capital
- Animoca Brands
- Hashkey Group
- $300 million from Pantera Capital, and others
These moves by major funds and market players show that the potential of TON in synergy with Telegram is being increasingly recognized, marking a truly historic time.
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