Bitget and Foresight Ventures Invest $30 Million in The Open Network

Cryptocurrency exchange Bitget and Foresight Ventures have announced a $30 million investment into The Open Network (TON) blockchain, aiming to enhance the development of Telegram-based projects.

Focus on Tap-to-Earn Games

The investment particularly focuses on tap-to-earn games. Casual video games on Telegram, such as Hamster Kombat and Notcoin, have recently attracted millions of users looking to earn crypto tokens.

Engagement in Development

Bitget and Foresight intend to engage more deeply in the TON blockchain’s governance and future development plans. The firms stated that the investment will be allocated through the acquisition of TON tokens.

Strong Use Cases for Adoption

Projects based on TON provide a compelling use case for mass adoption, especially within the Telegram ecosystem, which has seen significant growth as it evolves for web3 startups.

“The surge of the TON ecosystem represents the biggest growth opportunity in the cryptocurrency market this year,” said Forest Bai, Chairman of The Block and co-founder of Foresight Ventures.

Although Telegram and TON operate independently, the messaging app and blockchain protocol are closely aligned in their growth strategies.