- OKX Ventures, TOP, and Folius Ventures are pooling resources to launch a $10 million fund dedicated to projects that will expand the TON blockchain within Telegram’s ecosystem.
- The fund will prioritize projects that enhance user onboarding, create advanced trading tools, and build mini-apps for Telegram.
- Selected projects will gain access to mentorship, marketing support, and a suite of developer tools from OKX and TOP, including wallet integration solutions, APIs, and NFT platforms.
- With Telegram adding 2.5 million users daily, the program seeks to leverage this growth by enabling blockchain-based functionalities directly on Telegram, targeting widespread adoption of Web3 tools.
OKX Ventures, The Open Platform (TOP) and Folius Ventures have launched a $10 million fund to launch the “Telegram Growth Hub.”
The Telegram Growth Hub aims to empower developers focused on TON (The Open Network) by providing funding, resources, and community-building tools for projects that could transform Telegram into a hub of blockchain innovation.
The Telegram Growth Hub is structured around three key pillars, each aligning with Telegram’s growing vision of decentralized app integration:
User Onboarding and Education: Simplifying onboarding on TON through user-friendly interfaces and educational tools for newcomers.
Advanced Trading Capabilities: Expanding TON’s on-chain functionalities to include decentralized exchange (DEX) and NFT trading, liquid staking, and other high-demand trading solutions.
Mini-App Ecosystem: Enabling developers to create diverse mini-apps—from gaming to entertainment—that engage users and enhance Telegram’s use cases.
Telegram’s decision to anchor its blockchain efforts in TON, a network specifically built to integrate with its platform, is likely to shape the app’s future as a multifaceted Web3 ecosystem.
With nearly a billion monthly active users, the platform adds approximately 2.5 million new users each day. This offers vast potential for blockchain-based tools and applications tailored to such a massive, dynamic audience.
OKX Ventures Partner Jeff Ren emphasized the impact of TON’s interoperability with Telegram, calling it “a foundational piece in the ecosystem’s journey toward mass adoption.”
Ren noted that the initiative underscores OKX’s commitment to decentralization, positioning the ecosystem for “new utilities that cater to Telegram’s diverse and expanding user base.”
Participating developers will not only gain funding but will also access an extensive suite of developer resources. Through OKX’s platform, they can utilize OKX Connect for streamlined wallet integration.
TOP adds further infrastructure, including tools like Tonkeeper, TON Apps API, and the Getgems NFT Platform, which provide the foundational support needed to scale decentralized apps on TON.
Selected teams will enter a two-month accelerator, receiving mentorship, marketing support, and introductions to leading figures across the OKX, TOP, and Folius networks.
Andrey Klebanov, Managing Director at TOP, mentioned that the program is “designed to empower builders with the tools and resources needed for impactful, scalable solutions.”
His remarks reflect an ambition to cultivate not just standalone applications but a full-fledged ecosystem within Telegram, where decentralized services can be seamlessly integrated and accessible to users worldwide.
From Folius Ventures’ perspective, Jason Kam highlighted that the fund aligns with Folius’ mission of reducing friction for users entering Web3.
Kam praised TON’s role in the broader blockchain space, adding, “We look forward to supporting the ecosystem growth hub program as it takes TON’s user-friendly blockchain experiences to a larger audience.”
Applications for the program, open through November 29, 2024, offer up to 10 projects the chance to secure funding from the $10 million fund, advancing projects that bridge the gap between Web2 and Web3 in Telegram’s increasingly decentralized ecosystem.
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