Ethereum

2024

when

Foundation

In a move that’s set to accelerate the already rapid expansion of The Open Network (TON) ecosystem, two former senior members of the TON Foundation have spun out to launch TON Ventures, a new venture capital firm backed by a $40 million fund. 
Ian W., the former Director of TON Accelerator, and Inal K., the ex-Gaming Lead at TON Foundation, are the driving force behind this initiative. Their past collaboration led to the success of popular TON Web3 games like Catizen and Gatto, as well as the perpetual exchange Tradoor. 
TON Ventures aims to empower founders with the tools and infrastructure required to create applications with the potential for mass adoption and long-term sustainability. In addition to financial backing, the selected projects will benefit from the team’s extensive experience, global network, and hands-on support. 
“TON and Telegram have created a paradigm shift for web3. With our deep experience in the ecosystem, we believe the highest leverage point is in capital allocation for TON. Now, we have the exciting opportunity to share our insights and strategies for thriving in the unique design space created by TON and Telegram, empowering a new generation of innovators and builders,” said Ian W., Managing Director of TON Ventures. 
The launch of TON Ventures comes at a time when the TON ecosystem is experiencing explosive growth. In recent months, TON has surpassed Ethereum in daily active users, with total assets in use on the platform soaring to $1.14 billion in July—up from $71 million at the start of the year. 
The rise of tap-to-earn gaming in 2024 has also played a significant role in this growth, drawing hundreds of millions of new users into the Web3 gaming space. A prime example is the meteoric rise of Notcoin, a game that captured the attention of 35 million players in just three months, distributing over 90% of its token supply to its dedicated community. 
TON Ventures will focus its support on consumer applications that leverage Telegram’s social graph, Telegram Mini Apps, and tools and infrastructure that support founders as they build mass appeal applications. In addition to funding, chosen projects will get to leverage the team’s global resources and extensive experience, while receiving benefits such as Telegram Ads, media support, access to strategic partnerships, and exclusive access to growth and traffic experiments at TON. 
As we move forward, TON Ventures is poised to be a catalyst for the continued expansion and success of the TON ecosystem. By bringing together visionary investors and groundbreaking projects, they’re not just investing in technology—they’re investing in the future of decentralized innovation.

TON Foundation Alums Launch $40M TON Ventures to Fuel Ecosystem Growth

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