TONCoin Fund Launches $250Million Fund To Support Web3 Startups
The TON Foundation has selected the TONcoin Fund as its official ecosystem fund. The TONcoin will also be launching an ecosystem fund that will support TON-based projects. Following the launch, the project has secured $250 million in funding from major companies across the industry. The Open Network will be offering opportunities for the speedy adoption of blockchain technology.
In addition, the integration of Telegram could make TON the first blockchain project to become accessible to millions of users worldwide. The integration effort is possible through native interface proposals as well as via in-app bots.
Also, the TON Foundation will be the roadmap for the ecosystem to grow as it seeks to offer support in a decentralized way.
Top firms that participated in the funding include Huobi, 3Commas Capital, MEXC Pioneer Fund, Kucain Ventures, Kilo Fund, TON Miners, and blockchain startup Orbs. The fund will be deployed via grants, investments, and incubation programs.
The Fund To Be Utilized For Web3-related Developments
Managing Partner of TONCoin Fund Benjamin Rameau stated that TON Foundation is working closely with the fund to make sure that the overall aim is achieved. The project is also aimed at helping the TON blockchain to reach its full potential.
Rameau noted that the fund will be utilized mainly on Web3-related developments. Presently, it is incubating in the non-fungible token (NFT) and decentralized exchange projects.
“We are also eying opportunities with wallets, NFT marketplaces, and decentralized finance,” he stated.
TON Ensures Greater Access To Blockchain Technology
Rameau has been in the digital network ecosystem for some time. He is a partner at crypto trading platform 3Commas Capital as well as the founder of Jerry Metaverse DAO. He admitted that his interest in TON blockchain grew when he started the Telegram bot-based mobile gaming platform known as Gamee.
However, he discovered that TON represents an ideal platform to create blockchain solutions that “people actually want to use”. He also discovered that the platform will ensure greater access and adoption of blockchain technology.
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