Bitget and Foresight Ventures Invest in The Open Network (TON) Blockchain

Cryptocurrency exchange Bitget and Foresight Ventures have announced a $30 million investment into The Open Network (TON) blockchain.

Objectives of the Investment

The investment aims to enhance the development of Telegram-based projects, focusing on tap-to-earn games. Casual Telegram-based video games such as Hamster Kombat and Notcoin have attracted millions of users in recent months by offering the opportunity to earn crypto tokens.

With this new investment, Bitget and Foresight plan to engage more deeply in TON blockchain governance and its future development. The companies stated, "This investment will be allocated through the acquisition of TON tokens."

The Potential of TON-Based Projects

TON-based projects present a strong use case for mass adoption within the Telegram ecosystem, which has experienced substantial growth as it expands offerings for web3 startups. The Block Chairman and Foresight Ventures' co-founder and CEO Forest Bai remarked that "the surge of the TON ecosystem represents the biggest growth opportunity in the cryptocurrency market this year."

Although Telegram and TON operate independently, they work in lockstep for mutual benefit.