Three firms are joining forces to launch a $10million Telegram Growth Hub designed to boost innovation in the TON blockchain and expand Telegram’s mini-app ecosystem.
The new Telegram Growth Hub was launched by OKX Ventures, the investment arm of crypto exchange and Web3 tech company OKX, The Open Platform (TOP), VC and venture builder for early-stage projects on the TON blockchain, and Folius Ventures, a hybrid investment fund focusing on the APAC Web3 landscape.
The Telegram Growth Hub will fund and support projects that enhance user engagement on TON, focusing on three key areas:
User onboarding and educational tools: Projects that simplify onboarding through intuitive UI/UX and educational tools, making TON accessible for new users
Trading capabilities and networks: Initiatives that develop on-chain trading features, such as DEX and NFT trading, liquid staking and other advanced trading functionalities
Mini-app ecosystem expansion: Innovative mini-apps for Telegram, including gaming and entertainment applications that expand TON’s use cases
Telegram Growth Hub will select up to 10 promising projects for a two-month acceleration programme. Selected teams will be eligible for funding from the $10million fund.
Jeff Ren, partner at OKX Ventures, said: “We’ve long recognised the immense potential of the Telegram ecosystem and its choice of TON as its preferred blockchain. TON’s seamless integration with Telegram’s user base, coupled with the messaging app’s nearly one billion monthly active users, positions the ecosystem for mass adoption.
“This programme represents our commitment to fostering innovation and supporting projects that will shape the future of decentralised applications on Telegram. We’re excited to see how developers will leverage this opportunity to create new utilities that cater to Telegram’s diverse and expanding user base.”
Backing TON innovation
Aside from funding, selected projects will also benefit from further support, including:
Capital for talent acquisition and community building
Access to OKX’s suite of developer resources, such as OKX Connect, a new solution designed to streamline wallet integration for developers building on TON
Access to TOP’s developer resources and infrastructure, to build, scale and engage users on TON
Mentorship, guidance and networking from experts, marketing support and introductions to key stakeholders in the OKX, TOP and Folius Ventures networks
Applications to join the programme will remain open until 29 November 2024.
Andrey Klebanov, managing director at TOP, said: “At TOP, our goal is to empower builders with the tools and resources they need to create impactful, scalable solutions on TON. By collaborating with OKX Ventures and Folius, we’re further providing developers with both the financial backing and specialised support they need to bring transformative projects to life within Telegram’s thriving Web3 ecosystem.”
Jason Kam, founder of Folius Ventures, also commented: “Adoption through significantly reduced onboarding, onramp, and on-chain friction has been our north star since day one of founding Folius — and we see tremendous potential for TON and Telegram achieving that purpose. The impact the TON ecosystem has had on the broader Web3 space is sizable and self-evident, and we look forward to contributing to the case of mass adoption through our support of the ecosystem growth hub programme.”
The post Three Firms Launch $10Million Telegram Growth Hub to Boost TON Blockchain Innovation appeared first on The Fintech Times.
