This investment further demonstrates the deep support of OKX Ventures for the TON ecosystem. Previously, OKX Ventures had just launched a $10 million "Telegram Growth Hub".
This $5 million investment aims to build a network of seasoned developers to develop the best solutions for TON applications.
On December 10, 2024, the investment arm of the leading global cryptocurrency exchange and on-chain technology company OKX, OKX Ventures, announced a $5 million investment in TON Ventures. TON Ventures is a venture capital fund focused on accelerating the growth of The Open Network (TON) blockchain ecosystem. This investment aims to create a network of seasoned developers to drive the implementation of best practices for TON application development.
This initiative complements the $10 million Telegram Growth Hub launched by OKX Ventures in partnership with The Open Platform and Folius Ventures, focusing on enhancing technical expertise and development standards. Leveraging the advantage of directly reaching 950 million monthly active users on Telegram, as well as the success of mini-apps like Notcoin, OKX Racer, and Catizen, TON has demonstrated strong potential for large-scale adoption.
TON Ventures is led by former TON Foundation executives Ian Wittkopp (Head of Acceleration Program) and Inal Kardan (Head of Gaming), focusing on supporting early consumer applications built on TON, with a focus on decentralized finance, gaming, creator economy, and infrastructure projects. The fund has already achieved significant results in early-stage investments, including supporting the development of platforms like DeLabs and Goat Gaming, driving the construction of creator economy infrastructure like Memetics, and helping the Telegram community create mini-economies. Additionally, TON Ventures has invested in AI applications like Grably, which leverage TON and Telegram data to support AI models.
OKX Ventures partner Jeff Ren stated: "As one of the early supporters of TON, our investment and collaboration with TON Ventures further demonstrates our commitment to cultivating a seasoned developer ecosystem. The TON ecosystem requires seasoned developers who not only master technical best practices but also deeply understand the user experience needs of native Telegram applications. This investment, as well as our recently launched Telegram Growth Hub, reflects our long-term trust in TON's potential to drive mainstream adoption of on-chain technology. We look forward to working closely with the TON Ventures founding team, whose expertise in the ecosystem will be a key driver in expanding the next generation of TON native applications."
TON Ventures partner Ian Wittkopp said: "The OKX Ventures team has been one of the earliest supporters recognizing the core value of TON, which combines Telegram's social network with TON's blockchain technology, aiming to build a vibrant Web3 consumer application ecosystem that attracts millions of users. They have excelled in attracting top developers and providing funding support, driving the rapid development of the TON ecosystem. We are thrilled to deepen our collaboration with the OKX Ventures team and look forward to a close partnership in the years to come."
TON Ventures has successfully raised an initial $40 million, led by founders Ian and Inal with their deep ecosystem expertise. The fund typically provides up to $500,000 in investments for early-stage projects, while remaining flexible to larger investment opportunities. In the coming months, TON Ventures will focus on supporting the development of core gaming experiences, expanding creator monetization tools, and further driving the growth of TON's decentralized finance domain.
About OKX Ventures
OKX Ventures is the investment arm of the leading global cryptocurrency exchange and Web3 technology company OKX, focused on identifying high-quality blockchain projects globally, supporting technological innovations, and promoting the healthy development of the blockchain industry by investing in projects with long-term value. OKX Ventures is committed to supporting blockchain entrepreneurs in building innovative companies and providing global resources and rich experience for projects. For more information, please visit the OKX Ventures website.
About TON Ventures
TON Ventures is a leading venture capital firm focused on driving innovation in the The Open Network (TON) ecosystem, supporting early-stage innovative startups built in the TON and Telegram unique design space. TON Ventures provides financial investment, operational support, ecosystem expertise, and opportunities to connect with global industry-leading partners. By fostering close collaboration between investors and projects, TON Ventures is committed to accelerating the mass adoption of decentralized technologies and empowering the next generation of Web3 entrepreneurs. To learn more, please visit:tonventures.io.
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