Hassan Maishera
TL;DR
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Animoca Brands has become the largest validator in the TON ecosystem.
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The gaming and metaverse-focused firm didn’t reveal the details of its investment.
Animoca Brands Invests In TON
Gaming and metaverse-focused venture capital firm Animoca Brands announced on Tuesday that it has invested in the TON ecosystem. Thanks to this latest development, Animoca Brands has become the largest validator on the TON blockchain.
The partnership means that Animoca Brands is helping third-party gaming projects to build in the ecosystem by supporting TON Play. TON Play is TON’s gaming infrastructure project.
While commenting on this latest development, Justin Hyun, Director of Growth at TON Foundation, said,
"Animoca Brands' investment in The Open Network is a pivotal step towards the next era of blockchain-based gaming. Its new analytics platform and in-depth research reports represent alignment with TON Foundation's mission. Together, we will infuse Web3 seamlessly into the daily experiences of Telegram users, particularly in gaming, for a global audience to enjoy."
Animoca didn’t provide details on the terms of its investment. However, Yat Siu, co-founder and executive chairman of Animoca Brands, said,
“This strategic investment in TON is a key part of our broader commitment to help onboard the next million Web3 users by facilitating a seamless transition from Web2 to Web3. Taking part in the network’s validation underlines our faith in the successful realization of the vision behind the TON project as it looks to bring Web3 into the mainstream. We have already seen significant growth potential in games with TON, and we’re looking forward to working with the other innovative teams building exciting TON-based games.”
The partnership between the two entities is set to make it easier for Web3 apps to onboard existing Web2 users. The collaboration will focus on facilitating a seamless transition from Web2 to Web3.
Telegram endorsed TON as its blockchain of choice for Web3-related developments earlier this year, a move that made it possible for TON-based projects to target Telegram’s 800 million user base.
