Bitget and Foresight Ventures invested $30 million in Ton
Bitget and Foresight Ventures announced a $30 million investment in Open Network. The companies will buy Ton Tokens and support GameFi and tap projects to earn.
Crypto exchange Bitget and web3 investment company Foresight Ventures announced a strategic investment of $30 million in the TON blockchain.
In an announcement on September 18, the two companies will share their investment in acquiring the TonCoin (TON) token. The partnership aims to fuel development and tap into the ecosystem for Open Network's GameFi.
The development of the environment
Bitget and Foresight Ventures invest in new trends in the TON network. Telegram has over 900 million users, which has played a major role in Ton's growth into the leading blockchain network.
Gracie Chen, the CEO of Bitget, commented on the investment, which coincides with the crypto exchange's continued support for TON.
“By combining our expertise in crypto infrastructure with TON's decentralized architecture, we are well positioned to strengthen the development of innovative products and solutions. Together, we are bringing the crypto industry closer to mass adoption than ever before, added the Bitgate CEO.
Catizen, DOGS and a TON of other dApps
As well as an increase in on-chain transactions, Tons recorded a total value of locked and decentralized exchanges, among other metrics. The development comes amid huge demand and adoption for projects like Hamster Kombat, Catizen and DOGS.
Bitgate partnered with DOGS for an airdrop in August and introduced advanced integration of tons of dApps in early June.
Forest Bai, co-founder and CEO of Foresight Ventures at TON TVL, suggests that the blockchain ecosystem that has grown over the past six months may be poised for explosive growth in the next three to five years.
According to Bai, the partnership will provide additional support to developers, supporting new development through inoculation, investment and marketing.
The $30 million investment will increase Bitget and Foresight Ventures' involvement in Ton's management and future plans. While Ton continues to see growth, the past month or so has not been all smooth sailing for the blockchain network.
Launching DOGS disrupted the network, causing significant outages due to congestion. Telegram CEO Pavel Durov has also seen the arrest of Tonkcoin in France.
