• TON, the blockchain powering Telegram’s new ad platform, is attracting investment due to its access to Telegram’s 800 million users
• Recent partnerships and investments suggest TON has the potential to become a major player in Web3 adoption.

The TON (The Open Network) blockchain continues to generate significant interest within the Web3 space, attracting investments and partnerships due to its unique position within the popular messaging app Telegram. This article explores the recent developments within the TON ecosystem, highlighting the potential for mass adoption driven by Telegram’s user base and the strategic investments being made.

Mirana Ventures Joins the TON Ecosystem

Mirana Ventures, a prominent Web3 investment firm, recently injected $8 million into the TON ecosystem by acquiring the network’s native token, Toncoin. These funds will be used to support ongoing product development initiatives involving the TON Foundation, Bybit crypto exchange, and the Ethereum layer 2 scaling solution, Mantle Network.

This investment underscores the growing confidence in TON’s potential, particularly within the context of the recently launched Telegram Ad Platform. Built on the TON blockchain, this platform allows Telegram channel owners worldwide to monetize their content by selling advertising space. Revenue generated through the platform is shared with channel owners, exclusively distributed in Toncoin.

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Bybit Leverages TON’s User Base

Bybit’s involvement with TON extends beyond Mirana Ventures’ recent investment. Over the past year, the cryptocurrency exchange has actively engaged with the ecosystem through initiatives like cashback programs and staking opportunities involving Toncoin. These initiatives reportedly generated over $22 million in trading volume, highlighting the potential for further growth through Telegram’s massive user base of 800 million.

“The Open Network, as the native blockchain and wallet tech stack in Telegram, the centerpiece communications infrastructure of crypto and Web3, is uniquely positioned to help accelerate mass adoption”

From Telegram Project to Open-Source Community

It’s important to note that TON’s journey wasn’t always straightforward. Initially developed by Telegram, the project faced legal challenges from the US Securities and Exchange Commission (SEC) in May 2020, leading Telegram to abandon further development. However, a dedicated group of open-source developers took over the project, ultimately establishing the TON Foundation in May 2021. Notably, TON Space, the built-in self-custodial wallet within Telegram, allows users to manage Toncoin tokens and native digital collectibles.

Connecting Telegram Users to the Broader Web3 Landscape

The recent integration between TON Space and Mantle Network represents another significant development. This integration enables Mantle Network users to access gamified campaigns and advertising offerings within Telegram through TON-based MNT tokens. This collaboration effectively connects Telegram users with the broader Web3 ecosystem, fostering further adoption and engagement.

Industry Recognizing TON’s Potential

Industry leaders are clearly recognizing the potential of TON. David Toh, managing partner of Mirana Ventures, emphasized the unique position of TON’s native blockchain and wallet technology within Telegram, describing it as “the centerpiece communications infrastructure of crypto and Web3.” This sentiment is echoed by Steve Yun, president of the TON Foundation, who highlights the growing number of industry players seeking early mover advantages within the TON ecosystem and its connection to Telegram’s user base.

As previously reported, prominent Web3 investment firm Animoca Brands also solidified its position within the TON ecosystem by becoming the largest validator, further demonstrating the growing confidence in TON’s future.

In conclusion, TON’s strategic positioning within the popular messaging app Telegram, coupled with recent investments and partnerships, suggests the potential for significant growth and mass adoption within the Web3 space. The continued development of the TON ecosystem and its connection to diverse Web3 projects holds exciting possibilities for the future.