Popular crypto exchange Bitget and venture capital firm Foresight have committed $30 million to the development of Telegram-based blockchain platform, The Open Network (TON). In a Twitter post, TON announced that the funding will help scale up some of the applications built on its network, especially P2E projects like Hamster Kombat and Notcoin.
According to the announcement, the investment in the Open Network ecosystem will be allocated through the acquisition of Ton, the core currency powering the Open Network. With the investment in TON, Bitget and Foresight have become key players in the Open blockchain’s governance and future development initiatives.
Bitget CEO Gracy Chen says the exchange’s partnership with the Open Network blockchain lays the groundwork for its vision to become a leader in the industry. According to Chen, Bitget’s integration into TON’s decentralized architecture will also strengthen the development of its products and services delivery.
Don’t forget that Open Network has emerged as one of the fastest-growing blockchains around. According to data from DefiLlama, the TVL in various Open Network projects has crossed the $400 million milestone, a feat that speaks to its widespread acceptance.
The co-founder of Foresight Ventures Forest Bai believes TON projects present a viable use case for mass adoption. According to him, the rise in the TON blockchain signifies the biggest growth opportunity embedded in the crypto market. In the statement, the exec says TON boasts more than 1,000 dApps, with most of them boasting millions of users. Also, he expressed the commitment of Foresight to supporting developers within the TON ecosystem by providing investment, technical support, and incubation.
Hamster Kombat to launch on TON next week
Meanwhile, Hamster Kombat, one of the most popular projects on TON, will finally make its debut on September 26. Its imminent launch has triggered wild excitement in the crypto community, particularly among those seeking to capitalize on its airdrop program. Renowned as a tap-to-earn game, Hamster Kombat allows users to play the role of the CEO of a crypto exchange.
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