Animoca Brands, a venture capital firm primarily focused on gaming and the metaverse, made a significant investment in the Telegram Open Network (TON) ecosystem, becoming the leading validator on the TON blockchain.
The recently announced news reveals Animoca Brands’ active involvement in fostering gaming projects within the ecosystem, particularly through its support for TON Play, a gaming infrastructure project on the network.
Animoca Brands’ investment, based in Hong Kong, adds to the growing appeal of TON, endorsed by Telegram as its preferred blockchain for Web3-related developments. This endorsement, announced in September, broadens the scope for TON-based projects by potentially providing access to the extensive user base of 800 million on the popular messaging application.
While the press release regarding the investment doesn’t specify the exact amount, the designation of Animoca Brands as the primary validator underscores the significance of its commitment to the success of the TON ecosystem. The firm goes beyond mere investment, actively playing a role in supporting third-party gaming projects through TON Play.
TON Takes Flight Thanks to Animoca Brands
TON Play, TON’s gaming infrastructure project, significantly benefits from this backing, receiving strategic and financial support from Animoca Brands. This endorsement has the potential to expedite the development of TON Play and, consequently, drive the growth of gaming projects within its ecosystem.
The choice of TON as Telegram’s preferred blockchain emphasizes confidence in the technology’s capabilities to meet the needs of Web3-related developments. This preference not only attracts significant investors like Animoca Brands but also provides TON-based projects with a crucial stamp of approval that can draw in more developers, investors, and participants into the ecosystem.
Yat Siu, the co-founder of Animoca Brands, commented that this strategic investment in TON is a key part of their broader commitment to help onboard the next million Web3 users by facilitating a seamless transition from Web2 to Web3
This support not only strengthens Animoca Brands’ position in the gaming space but also contributes to the ongoing momentum of TON adoption within the realm of Web3.
