TON Foundation raises $400M via token sale 🚀
The Open Network Foundation secured over $400 million from prominent venture capital firms through token-based investments. This move demonstrates a growing interest in the Telegram messaging ecosystem, with investors purchasing Toncoin, the native cryptocurrency.
Participating firms include Sequoia Capital, Ribbit, and Benchmark, viewing their investments as strategic partnerships to expand the TON blockchain ecosystem. Originally developed by Telegram, the TON blockchain now operates independently and supports Mini Apps development for Telegram.
TON Foundation aims to onboard 30% of active Telegram users to the blockchain in the next three years, signaling significant ecosystem growth. The foundation claims that Toncoin has over 121 million unique holders. This comes at a time when venture capital is increasingly drawn to crypto projects, fueling industry legitimacy and expansion.
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