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The TON Foundation raised a remarkable $400 million by selling Toncoin to prominent venture capital organizations like Sequoia Capital and Benchmark. This achievement represents a major milestone in TON’s efforts to build its blockchain ecosystem on the Telegram messaging app.
Enormous Users Growth
The TON blockchain has seen tremendous growth, with 41 million users now. Telegram itself has reached over 1 billion users, offering a huge opportunity for TON’s growth. With this investment, TON plans to onboard 30% of Telegram’s active users into its ecosystem within the next three years.
What This Means for TON
The funds raised will be utilized to speed up the development of TON’s ecosystem, improving blockchain scalability, smart contract functionality, and decentralized applications (dApps). Investors view TON as a key driver of Web3 integration into messaging platforms, taking advantage of Telegram’s enormous user base to spur adoption.
The Future of TON and Telegram
TON’s vision is of hassle-free crypto payments, DeFi applications, and NFT marketplaces directly on Telegram. This injection of funds will most likely attract more developer support, innovative projects, and mass adoption within the ecosystem.
With solid support from influential investors and a lofty roadmap, the TON Foundation has all the momentum to transform blockchain adoption via Telegram. The next couple of years will be crucial in deciding whether TON succeeds in bringing in hundreds of millions into Web3.
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