KuCoin Ventures allocates a $20,000 grant to promote expansion of the TON ecosystem.
Posted: December 1, 2023 10:09 AM Updated: December 1, 2023 10:09 AM
Correction and fact check date: December 1, 2023, 10:09 AM
briefly
KuCoin Ventures announced a $20,000 grant to TON to support five mini-applications in the ecosystem focused on payments and GameFi.
KuCoin Ventures, the investment arm of cryptocurrency exchange KuCoin, will provide a $20,000 grant to decentralized network The Open Network (TON) for ongoing initiatives in the ecosystem. Funds will be allocated to five TON-based mini-applications focused on payments or GameFi.
KuCoin Ventures’ funding for TON also supports innovative projects, R&D efforts, community-building activities, and marketing campaigns within the ecosystem. Ongoing initiatives such as Future3 Campus and TON Bootcamp are among the beneficiaries.
“Through powerful programs like the Future3 Campus Bootcamp and the support of KuCoin Ventures, we are promoting real-world blockchain solutions in payments and gaming within the TON ecosystem. “The TON Foundation is celebrating industry-leading companies solidifying their commitment to TON’s next generation of mini-app developers,” said Ian Wittkopp, Head of Accelerator at the TON Foundation.
KuCoin Ventures also expressed its intention to pave the way for the future of cooperation between cryptocurrency exchanges and public chains.
TON Network attracts multiple investments
Earlier this week, Web3 investment firm Animoca Brands made a strategic investment in the system, making it the network’s largest validator. According to the announcement, the company plans to strengthen TON’s gaming projects, including TON Play, with the goal of launching Web3-based games directly on Telegram.
TON also recently attracted investment from MEXC Ventures, a subsidiary of MEXC, a global cryptocurrency exchange. In conjunction with the funding, MEXC and the TON Foundation have entered into a strategic partnership aimed at promoting global Web3 accessibility by lowering barriers to entry.
With the new grant, the development of Web3 within the TON network gains further momentum, signaling a shift in emphasis towards the integration of decentralized and user-centric technologies leading to a more interconnected, transparent and community-driven digital environment.
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Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
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alice davidson
Alisa is a reporter for Metaverse Post. She focuses on everything related to investing, AI, metaverse, and Web3. Alisa holds a degree in Art Business and her expertise lies in the fields of art and technology. She developed a passion for journalism through writing about VCs, notable cryptocurrency projects, and participating in science writing.
more articles