Bitget and Foresight Ventures have teamed up to invest in the Telegram ecosystem.
Cryptocurrency exchange Bitget and Web3 investor Foresight Ventures have made a strategic investment of $30 million in The Open Network (TON) ecosystem.
This investment was made to support the development of Telegram-based projects, with a particular focus on games with a “tap-to-earn” model, such as “HamsterKombat” and “Notcoin.”
The investment was made by purchasing tokens directly from whales in the TON ecosystem. It was stated that it was not a traditional fundraising round, but rather a deal made directly with large TON holders.
Bitget and Foresight Ventures aim to take a greater part in the management of the TON Blockchain and contribute to its future development plans. All purchased TON tokens will remain locked as part of long-term commitments and will be released according to a specific schedule.
TON Blockchain has seen significant growth thanks to its connection to Telegram’s 900 million user base. According to DeFiLlama data,
The total value locked on TON has surpassed $400 million. Additionally, in April, Tether (USDT) expanded to the TON Blockchain and began supporting peer-to-peer payments on Telegram, bringing the authorized amount of USDT on TON to $1 billion.
Forest Bai, CEO of Foresight Ventures, emphasized that the TON ecosystem offers the biggest growth opportunity in the cryptocurrency market, and stated that this potential will continue for the next 3 to 5 years.
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