OKX Ventures invests $5 million in TON Ventures to drive the development of the next generation of n

This investment further demonstrates OKX Ventures' deep support for the TON ecosystem, following the launch of the $10 million Telegram Growth Hub by OKX Ventures

This $5 million investment aims to build a network of experienced developers to develop the best solution for TON applications.

On December 10, 2024, OKX Ventures, the investment arm of OKX, a leading global cryptocurrency exchange and on chain technology company, announced a $5 million investment in TON Ventures. TON Ventures is a venture capital fund focused on accelerating the growth of The Open Network (TON) blockchain ecosystem. The purpose of this investment is to build a network composed of experienced developers to promote the implementation of best practices in TON application development.

This initiative complements the $10 million Telegram Growth Hub launched by OKX Ventures in collaboration with The Open Platform and Folius Ventures, with a focus on enhancing technical expertise and development standards. With the advantage of directly covering 950 million monthly active users on Telegram, as well as successful mini applications such as Notcoin, OKX Racer, and Catizen, TON demonstrates strong potential for large-scale adoption.

TON Ventures, led by former TON Foundation executives Ian Wittkopp (Acceleration Program Leader) and Inal Kardan (Game Leader), focuses on supporting early-stage consumer applications built on TON, with a focus on decentralized finance, gaming, creator economy, and infrastructure projects. The fund has achieved significant results in early investments, including supporting the development of platforms such as DeLabs and Goal Gaming, promoting the construction of creator economic infrastructure such as Memetics, and helping the Telegram community create a mini economic system. In addition, TON Ventures has also invested in AI applications such as Grably, which utilizes TON and Telegram to obtain data and provide support for AI models.

Jeff Ren, a partner at OKX Ventures, said, "As one of the early supporters of TON, our investment and collaboration with TON Ventures further demonstrates our commitment to cultivating a senior developer ecosystem. The TON ecosystem requires experienced developers who not only master the best technical practices but also have a deep understanding of the user experience requirements of Telegram's native applications. This investment, as well as our recent launch of Telegram Growth Hub, demonstrates our long-term trust in TON's potential to drive on chain technology mainstream. We look forward to working closely with the founding team of TON Ventures, whose expertise in the ecosystem will be an important driving force for expanding the next generation of TON native applications

Ian Wittkopp, partner at TON Ventures, said: "The OKX Ventures team was one of the earliest supporters of TON's core values, which combine Telegram's social network with TON's blockchain technology to create a vibrant Web3 consumer application ecosystem that attracts millions of users to join. They have demonstrated outstanding performance in attracting top developers and providing financial support, driving the rapid development of the TON ecosystem. We are delighted to deepen our cooperation with the OKX Ventures team and look forward to close collaboration for many years to come

TON Ventures has successfully raised an initial capital of $40 million, led by founders Ian and Inal with their profound ecological expertise. This fund typically provides investments of up to $500000 for early-stage projects, while being flexible in responding to larger investment opportunities. In the coming months, TON Ventures will focus on supporting the development of core gaming experiences, expanding monetization tools for creators, and driving further growth in TON's decentralized finance sector.

About OKX Ventures

OKX Ventures is the investment department of OKX, a leading global cryptocurrency exchange and Web3 technology company. It focuses on exploring high-quality blockchain projects worldwide, supporting cutting-edge technological innovation, promoting the healthy development of the blockchain industry, and investing in projects with long-term value. OKX Ventures is committed to supporting entrepreneurs in the blockchain industry, helping them build innovative businesses, and providing global resources and rich experience for projects. For more information, please visit the OKX Ventures official website.

About TON Ventures

TON Ventures is a leading venture capital firm focused on driving innovation in the Open Network (TON) ecosystem, supporting early-stage innovative startups built in unique design spaces on TON and Telegram. TON Ventures provides financial investment, operational support, ecosystem expertise, and offers opportunities for projects to establish connections with top industry partners worldwide. By promoting close collaboration between investors and projects, TON Ventures is committed to accelerating the large-scale adoption of decentralized technology and empowering the next generation of Web3 entrepreneurs. For more information, please visit: tonventures.io。

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