Bitget and Foresight Ventures Invest $30 Million in TON Ecosystem to Boost Telegram-Based Projects

• In a significant move for the crypto community, Bitget and Foresight Ventures have teamed up to invest in the Telegram ecosystem.
• The duo has announced a strategic investment of $30 million into The Open Network (TON) ecosystem to bolster Telegram-based projects.
• This investment is tailored towards the “tap-to-earn” model games, particularly focusing on “Hamster Kombat” and “Notcoin.”

Bitget and Foresight Ventures solidify their commitment to the TON ecosystem with a $30 million investment, targeting innovative Telegram-based projects.

Strategic Investment Overview

Bitget, a prominent cryptocurrency exchange, and Foresight Ventures, a well-known Web3 investor, have committed $30 million to enhance projects within the TON ecosystem. This collaboration aims to support the development of Telegram-based projects, with a particular emphasis on “tap-to-earn” games like “Hamster Kombat” and “Notcoin.”

Unique Investment Approach

Unlike traditional fundraising rounds, this investment was executed by purchasing tokens directly from major TON stakeholders. This direct acquisition underlines the long-term commitment of Bitget and Foresight Ventures to the TON Blockchain, ensuring all acquired TON tokens remain locked and are released according to a predetermined schedule.

Growth Potential of TON Blockchain

The TON Blockchain, leveraging its connection with Telegram’s vast user base of 900 million, has seen significant growth. According to DeFiLlama, the total value locked (TVL) on the TON Blockchain has surpassed $400 million. Recently, the introduction of Tether (USDT) to the blockchain has facilitated peer-to-peer payments on Telegram, with the authorized USDT on TON reaching the $1 billion mark.

Long-term Vision and Market Impact

Foresight Ventures CEO, Forest Bai, has highlighted the enormous growth potential of the TON ecosystem, projecting continuous opportunities in the crypto market over the next three to five years. With both Bitget and Foresight Ventures actively participating in the future governance and development of the TON Blockchain, their investment marks a pivotal moment in shaping the landscape of Telegram-based decentralized applications.

Conclusion

The $30 million investment by Bitget and Foresight Ventures into the TON ecosystem is more than a financial commitment; it signifies a strategic push towards advancing Telegram-based blockchain projects. By aligning with TON’s growth trajectory and securing a significant stake in its future development, these companies are positioning themselves at the forefront of the next wave of blockchain innovation. The emphasis on long-term support and strategic involvement underscores their belief in the sustainability and potential of TON within the expanding realm of decentralized technologies.