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OKX Ventures, The Open Platform, and Folius Ventures have teamed up to support innovation on the TON blockchain. The trio has established a $10 million Telegram Growth Hub to fund and support user-engaging blockchains, therefore expanding the Telegram mini-app ecosystem.
OKX Ventures has established a Telegram Growth Hub by partnering with The Open Platform (TOP) and Folius Ventures. The three entities have contributed $10 million to support promising projects in The Open Network (TON) and Telegram ecosystems.
The Telegram Growth Hub aims to support projects in three categories
The Telegram Growth Hub will focus on supporting projects in three critical areas. The first category will be projects that simplify onboarding through an intuitive user interface and user experience.
The second category of projects under the Telegram Growth Hub radar are those that incorporate on-chain mechanisms, such as trading features and decentralized exchanges, NFT trading, and liquid staking.
The third category is the mini-app ecosystem. The Telegram Growth Hub seeks to promote innovative mini-apps in the TON ecosystem that focus on gaming and entertainment applications to expand utility in the TON ecosystem.
According to a press release, the trio’s alliance seeks to support up to ten promising projects that will benefit from the fund. Project owners will first submit an online application on or before November 29th. The applications will then undergo a selection process, and up to ten projects will be chosen.
The fund will benefit projects that qualify comprehensively. The Telegram Growth Hub will offer seed capital for community building and talent acquisitions. Apart from financial support, the hub will offer selected projects access to OKX’s suite of developer resources including OKX Connect which smoothens wallet integration for TON developers.
The selected projects will also gain access to The Open Platform’s toolbox of dev infrastructure and resources, including Tonkeeper, Playdeck, Ton App Chain, and Getgems NFT platform to build. Additionally, they will receive moral support, including mentorship, networking, guidance, and marketing support from industry experts.
The developers will also gain access to key industry players and stakeholders in the teams behind OKX Ventures, The Open Platform, and Folius Ventures.
Entity representatives comment on the alliance
OKX Ventures Partner, Jeff Ren, commented on the alliance, stating that the Telegram ecosystem has immense potential. Ren said that the program is part of OKX Ventures’ commitment to promoting innovation and supporting new projects that promise to change the decentralized application ecosystem in The Open Network.
TOP MD Andrey Klebanov also referenced the alliance in a quote stating that TOP aims to empower builders to develop impactful solutions on TON. Klebanov said the alliance will provide specialized support and funding to promising projects to transform Telegram’s thriving Web3 ecosystem.
“By collaborating with OKX Ventures and Folius, we’re further providing developers with both the financial backing and specialized support they need to bring transformative projects to life within Telegram’s thriving Web3 ecosystem.”
– Andrey Klebanov
Folius Ventures Founder Jason Kam said that Folius Ventures sees massive potential for the TON ecosystem. The founder highlighted that TON’s impact on the broader Web3 ecosystem is significant enough, and Folius Ventures looks to contribute to the ecosystem’s further growth.