The TON Blockchain: Attracting Investments and Revolutionizing Advertising on Telegram

Mirana Ventures invests $8 million in The Open Network ecosystem as Bybit plans to utilize Telegram's newly launched advertising platform.

Web3 firms are drawn to TON as Telegram Ad Platform launches

TON Space is the native Web3 wallet available to Telegram users to manage Toncoin tokens and digital collectibles. Source: TON Space

The TON blockchain, which powers Telegram’s new advertising platform, is creating waves in the Web3 world. With over 800 million monthly active users, Telegram has become an attractive platform for businesses and investors alike.

Mirana Ventures Investing $8 Million in TON

The latest player to invest in the TON ecosystem is Mirana Ventures, which has acquired $8 million worth of Toncoin tokens. Mirana Ventures intends to use the investment for ongoing product developments involving the TON Foundation, Bybit, and Ethereum layer 2 Mantle Network.

Telegram Ad Platform Goes Live

The Telegram Ad Platform, built on the TON blockchain, officially went live in March 2024. This revolutionary platform allows Telegram channel owners worldwide to receive financial rewards by selling exclusive advertising space and sharing revenue with channel owners in Toncoin.

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Bybit’s Increasing Involvement in TON

Bybit, a cryptocurrency exchange, has been increasingly involved in the TON ecosystem. In 2023, Bybit carried out a cashback program and staking involving Toncoin, generating over $22 million in trading volume with the help of approximately 130,000 Telegram users. Bybit’s interest in Telegram’s advertising platform is driven by the immense potential of its massive monthly active user base.

The Legal Battle and TON’s Future

TON was originally developed by Telegram, but due to a legal battle with the United States Securities and Exchange Commission, the messaging application had to abandon its development efforts in May 2020. However, a small group of open-source developers took over the project, leading to the establishment of the TON Foundation in May 2021. TON Space, the self-custodial wallet within Telegram, allows users to manage Toncoin tokens and native collectibles.

Integration with Mantle Network

In addition to Mirana Ventures’ investment, the TON Foundation announced the integration of TON Space with Mantle Network. This integration allows Mantle Network users to access gamified campaigns and advertising offerings within Telegram, further expanding the capabilities of the TON ecosystem.

Q&A Section

Q: How does the Telegram Ad Platform work?

A: The Telegram Ad Platform allows Telegram channel owners to sell advertising space and earn revenue in Toncoin. This incentivizes channel owners to create engaging content and attracts businesses looking to tap into Telegram’s massive user base.

Q: What is the significance of Bybit’s involvement in the TON ecosystem?

A: Bybit’s involvement signifies the potential of the TON ecosystem and the value it holds for businesses in the cryptocurrency industry. Bybit’s cashback program and staking initiatives generated millions of dollars in trading volume, demonstrating the effectiveness of the TON blockchain.

The Future of TON and Telegram

Industry players recognize the early mover advantage of the TON ecosystem and its connection to Telegram. The TON Foundation president, Steve Yun, believes that capital allocation and tapping into the TON ecosystem can accelerate mass adoption of blockchain technology and bring Telegram to the forefront of crypto and Web3.

With investments pouring in and exciting developments on the horizon, the TON blockchain is shaping up to be a game-changer in the advertising industry and beyond.

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