OKX Ventures invests $5M in TON Ventures

OKX Ventures, the investment arm of crypto exchange and global on chain technology company OKX, announced a $5M investment in TON Ventures, a venture capital fund dedicated to accelerating growth within The Open Network (TON) blockchain ecosystem.
The investment is aimed at establishing a network of experienced builders to develop best practices for TON applications.
This move complements OKX Ventures’ recently launched $10M Telegram Growth Hub, in partnership with The Open Platform and Folius Ventures, by focusing on technical expertise and development standards.
Led by former TON Foundation executives Ian Wittkopp (Director of Acceleration) and Inal Kardan (Gaming Lead), TON Ventures is primarily focused on backing early-stage consumer applications building on TON, with an emphasis on decentralized finance, gaming, creator economy and infrastructure projects. The fund has shown early success backing projects like the DeLabs and Goat Gaming platforms, creator economy infrastructure like Memetics that enable Telegram communities to build mini-economies, and AI applications like Grably that leverage TON and Telegram to source data for AI models.
Having secured $40M in initial funding, TON Ventures typically deploys investments of up to $500K for early-stage projects, while maintaining flexibility for larger opportunities. In the coming months, TON Ventures will focus on supporting the emergence of midcore gaming experiences, an expansion of monetization tools available to creators and the continued growth of the decentralized finance sector on TON.
TON has direct access to Telegram’s 950 million monthly active users and mini-apps like Notcoin, OKX Racer and Catizen.
Source: VCWire
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