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TON Ecosystem Grows Rapidly: New $40M Fund Launched
#TON #TONCOIN #TTonVentures $TON

The TON ecosystem, which has seen explosive growth recently, is making headlines again. Known for popular web3 games like Hamster Kombat, TON is attracting millions of users. Originally started by messaging app Telegram, the blockchain is now getting its own venture capital fund.

Launch of TON Ventures

On Wednesday, TON Ventures announced its formation as an independent, for-profit entity spun out from the network's development foundation. The new organization is led by Ian Wittkopp, former director of TON Accelerator, and Inal Kardan,

Rapid Growth of the TON Ecosystem

The TON ecosystem has gained significant momentum, particularly with the rise of web3 games like Hamster Kombat and Notcoin. These games are built on The Open Network (TON), a decentralized layer-1 blockchain initially developed by Telegram. After regulatory concerns led Telegram to settle a lawsuit with the U.S. Securities and Exchange Commission (SEC) in 2020, the network continued as an independent operation.

TON’s Market Impact

TON's native token, toncoin (TON), has seen a dramatic price increase, surging 339% over the past year. With a market capitalization of $16 billion, TON is now one of the top 10 largest cryptocurrencies.