The TON (The Open Network) ecosystem received a significant boost on October 30, 2024, with the announcement of a $10 million growth fund called Telegram Growth Hub. A joint venture between TOP, OKX Ventures, and Folius Ventures, the fund aims to support projects built on TON, the blockchain integrated with the popular messaging app Telegram.
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The Telegram Growth Hub has launched a two-month accelerator program for 10 promising projects. Selected participants will receive funding and support to develop and scale their ventures. Applications for the program are open until November 29, 2024.
Jeff Ren, Partner at OKX Ventures, highlighted the immense growth potential of the Telegram ecosystem, emphasizing TON’s unique integration with the messaging platform. With Telegram boasting nearly 1 billion monthly active users, Ren believes the seamless connection between TON and Telegram positions the ecosystem to effortlessly onboard new users into the Web3 space. The Telegram Growth Hub will serve as a catalyst for innovation and development within the Telegram ecosystem.
Amidst rapid user and project growth, the Telegram Growth Hub has identified three key areas of focus:
okx, folius và top hợp tácImage: TOP partners with OKX and Folius Ventures. Credit: HitechNectar.
Key Focus Areas for Telegram Growth Hub
Educational Protocols
This category prioritizes projects that simplify the Web3 onboarding process for newcomers, utilizing intuitive UI/UX design to make the experience more accessible.
Trading Protocols
Projects focusing on building and enhancing trading functionalities for both tokens and NFTs fall under this category. The goal is to diversify user experience and offer robust trading options within the Telegram ecosystem.
Mini-Apps
This area encompasses the development of mini-applications within the Telegram platform, ranging from gaming to other entertainment-focused apps. These mini-apps leverage Telegram’s vast user base to provide engaging and accessible Web3 experiences.
Andrey Klebanov, Director at TOP, stated that their commitment extends beyond financial support. TOP provides developers with the necessary tools and resources to build and expand within the TON ecosystem. The partnership with OKX Ventures and Folius Ventures brings not only funding but also valuable expertise to help projects achieve comprehensive growth.
Jason Kam, Founder of Folius Ventures, echoed this sentiment. He emphasized that reducing barriers to entry for Web3 has been a core principle for Folius Ventures since its inception. He views TON and Telegram as crucial components in achieving this goal and believes the Telegram Growth Hub will play a vital role in driving the adoption and widespread use of the ecosystem. The fund represents a collaborative effort to foster innovation and propel the TON ecosystem forward.
