TON receives $8m investment, announces Telegram web3 SuperApp launch

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The Open Community, or TON ecosystem, acquired an $8 million funding from the web3 firm Mirana Ventures.

In response to an Open Community (TON) blog post dated Mar. 6, the workforce behind TON defined how the strategic funding can be used shifting ahead.

“This collaboration offers monetary assist to TON and long-term help in constructing Telegram’s Web3 SuperApp, together with collaborating with different blockchains, akin to Mantle Community.”

TON workforce

The TON workforce reported that, along with Mirana Ventures, it’s introducing the SuperApp to advertise mass adoption of blockchain know-how by accelerating the event of an accessible and user-friendly utility.

In latest weeks, TON has proven spectacular growth. Specifically, the native token of the Toncoin challenge (TON) has grown by 30% over the previous month and was nominated for the 2024 CoinMarketCap Crypto Awards.

TON receives $8m investment, announces Telegram web3 SuperApp launch - 1
Supply: CoinMarketCap

Among the many potential causes for the expansion, Pavel Durov, founding father of the Telegram messenger, introduced a brand new monetary reward system within the TON cryptocurrency. Beginning in March, homeowners of Telegram channels from greater than 100 international locations will begin to obtain 50% of the revenue that the messenger earns by putting promoting of their channels.

The following day, the Telegram founder announced new measures to restrict the platform’s TON share to roughly 10% of the full subject. Durov says this may scale back the token’s volatility and enhance the variety of long-term cryptocurrency holders.

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