OKX Ventures invests $5 million in TON Ventures to promote the development of the next generation of Telegram native applications

On December 10, 2024, OKX Ventures, the investment arm of the global leading cryptocurrency exchange and on-chain technology company OKX, 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 build a network of experienced developers to promote best practices in TON application development.

This initiative complements the $10 million Telegram Growth Hub launched by OKX Ventures in collaboration with The Open Platform and Folius Ventures, focusing on enhancing technical expertise and development standards. With direct access to Telegram's 950 million monthly active users and successful mini-apps like Notcoin, OKX Racer, and Catizen, TON demonstrates 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, particularly in decentralized finance, gaming, creator economy, and infrastructure projects. The fund has achieved significant results in early investments, including supporting the development of platforms like DeLabs and Goat Gaming, promoting the construction of creator economy infrastructure like Memetics, and helping the Telegram community create a mini-economy. Additionally, TON Ventures has invested in AI applications like Grably, which leverages TON and Telegram to gather data and 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 demonstrate our commitment to nurturing an ecosystem of experienced developers. The TON ecosystem needs seasoned developers who not only master technical best practices but also deeply understand the user experience needs of Telegram-native applications. This investment, along with our recently launched Telegram Growth Hub, reflects our long-term trust in TON's potential to drive the mainstream adoption of on-chain technology. We look forward to working closely with the founding team of TON Ventures, whose expertise in the ecosystem will be a significant driving force in expanding the next generation of TON-native applications."

TON Ventures partner Ian Wittkopp remarked, "The OKX Ventures team is one of the earliest supporters to recognize the core value of TON, which combines Telegram's social network with TON's blockchain technology, aiming to create 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 very pleased to deepen our collaboration with the OKX Ventures team and look forward to close cooperation in the coming years."

TON Ventures has successfully raised $40 million in initial funding, led by founders Ian and Inal with their deep ecological expertise. The fund typically provides up to $500,000 in investment 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 monetization tools for creators, and promoting further growth in the TON decentralized finance space.

About OKX Ventures

OKX Ventures is the investment arm of OKX, a global leading cryptocurrency exchange and Web3 technology company, focusing on discovering high-quality blockchain projects worldwide, supporting cutting-edge technological innovation, promoting the healthy development of the blockchain industry, and investing in projects with long-term value. OKX Ventures is dedicated to supporting entrepreneurs in the blockchain industry, helping them build innovative businesses, and providing global resources and rich experience for projects. For more information, please visit OKX Ventures Official Website.

About TON Ventures

TON Ventures is a leading venture capital firm focused on driving innovation in The Open Network (TON) ecosystem, supporting early-stage innovative startups built in the unique design space of TON and Telegram. TON Ventures provides financial investment, operational support, ecosystem expertise, and opportunities for projects to connect with top global industry partners. By facilitating close collaboration between investors and projects, TON Ventures is committed to accelerating the large-scale adoption of decentralized technologies and empowering the next generation of Web3 entrepreneurs. For more information, please visit: tonventures.io.

Disclaimer

This content is for informational purposes only and does not constitute and should not be construed as (i) investment advice or recommendations, (ii) an offer or solicitation to buy, sell, or hold digital assets, or (iii) financial, accounting, legal, or tax advice. We do not guarantee the accuracy, completeness, or usefulness of such information. Digital assets (including stablecoins and NFTs) are subject to market fluctuations, involve high risks, and may depreciate or even become worthless. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation and risk tolerance. Please consult your legal/tax/investment professionals regarding your specific circumstances. Not all products are available in all regions. For more details, please refer to OKX Terms of Service and Risk Disclosure & Disclaimer. The OKX Web3 mobile wallet and its derivative services are subject to separate terms of service. You are responsible for understanding and complying with applicable local laws and regulations.

For more information, please visit: https://www.okx.com/zh-hans/learn/okx-disclaimer