- OKX Ventures invests $5 million in TON Ventures for Telegram-powered apps on TON blockchain.
- Investment adds to the recently launched $10 million Telegram Growth Hub.
OKX Ventures Invests $5 Million in TON Ventures
OKX Ventures, the investment arm of global crypto exchange OKX, has invested $5 million in TON Ventures to support the development of Telegram-powered TON applications.
The investment was announced by the OKX Ventures team on Dec. 10, with a focus on accelerating the TON ecosystem’s developer ecosystem.
According to OKX Ventures partner Jeff Ren, the investment showcases the long-term belief in TON’s potential to drive mainstream adoption of onchain technologies.
Telegram Growth Hub
OKX Ventures also unveiled the $10 million Telegram Growth Hub in partnership with The Open Platform and Folius Ventures to introduce blockchain applications to Telegram’s 950 million monthly active users.
Eyeing Web3 Expansion
TON Ventures has seen significant growth in mini-apps such as Catizen, Notcoin, and OKX Racer. TON Ventures partner Ian Wittkopp emphasized the intersection of Telegram’s social graph and TON’s blockchain rails to develop a vibrant ecosystem of Web3 consumer applications.
With $40 million in funding secured, TON Ventures aims to focus on gaming and monetization tools for future development.
