As it continues to garner attention, the TON Network has gotten another $30 million investment from both crypto exchange Bitget and Foresight Ventures. The capital is yet another sign of increased interest in the blockchain ecosystem that has placed a focus on GameFi and tap-to-earn through the Telegram messaging application.
The network interest is not a surprise considering Telegram’s success. The platform already boasts more than 950 million users, driving increased activity and adoption. Despite controversy facing the application, and CEO Pavel Durov, TON should only continue to drive.
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TON Gets $30 Million Investment as Ecosystem Continues to Expand
Throughout the year, Toncoin emerged as a surprising player in the crypto space. The asset thrived alongside the TON network. The Telegram blockchain became one of the fastest risers through the intrigue that many in the market had toward its development.
Now, that development is set to continue. Telegram’s TON Network has continued to garner investment interest, with it receiving another $30 million from cryptocurrency exchange Bitget and Foresight Ventures. The latter is an investment firm with a focus on Web3 development.
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“The surge of the TON ecosystem represents the biggest growth opportunity in the cryptocurrency market this year, and in the next 3-5 years,” Foresight CEO Forest Bai told BeInCrypto. Moreover, Haskey Captial Investment Manager Junbo Yang also noted that TON boasts a “huge competitive edge,” in how it combines crypto transactions and GameFi.
The network has gathered interest from other major crypto entities like Binance. The two have teased the release of a new play-to-earn game on the Telegram application. Altogether, it reinforces the growing intrigue that TON has received throughout the year so far. Moreover, that could be massive for Toncoin, as the native token looks to thrive from the blockchain’s growth.