- The Open Network (TON) secured over $400M from top VC firms like Sequoia and Draper, showing rising confidence in its blockchain and Telegram integration.
- TON targets onboarding 30% of Telegram’s 950M+ users by 2028 through seamless access to Web3 via mini-apps.
The Open Network (TON) has raised over $400 million from some of the most influential names in venture capital, according to Telegram Founder Pavel Durov. This is no ordinary investment—giants like Sequoia Capital, Benchmark, Ribbit, Draper Associates, and Vy Capital all contributed to the funding.
Telegram Partnership Gives TON the Fast Lane Advantage
On the other hand, there is one factor that makes this big investment make sense: the strategic partnership between TON and Telegram.
Since January, as reported by CNF, TON has officially become the exclusive blockchain for all mini-apps within Telegram. This means that all small applications such as games, payment tools, and blockchain-based services on Telegram will run on the TON network.
Think of it like having your own private toll road in a big city that is always congested. Telegram, with over 950 million monthly active users, is indirectly giving TON the main stage. So if you build a Web3 application and can immediately appear in front of hundreds of millions of Telegram users without the need for expensive advertising, who wouldn’t be interested?
Skeptics Rethink as TON Activity Skyrockets
As of press time, the TON token is trading at about $3.79, up 4.89% in the last 24 hours. Its transaction volume has also reached $164.57 million, a figure that makes anyone who has been skeptical start to take notice.
In the past year, the number of active accounts on the TON network has jumped from 4 million to more than 41 million. The number of Toncoin wallets has also exceeded 121 million. It’s like a small town suddenly turned into a densely populated country in just a matter of months.
Crypto Finds a Real-World Use Case With Travala
Interestingly, TON is not only playing in the world of social applications. In June 2024, they also partnered with Travala, a global travel booking platform that has more than 2.2 million hotels, 600 airlines, and more than 410 thousand activities in 230 jurisdictions.
Travala accepts Toncoin as a means of payment—and this is not just a formality. This means that TON has entered the realm of real transactions. If you’ve always thought crypto was just for trading or staking, now you can use TON to book hotels or buy plane tickets.
Chasing 30%: A Bold Target for Mainstream Adoption
With hundreds of millions of dollars in funding now ready to be disbursed and Telegram’s almost unmatched support in the messaging app world, TON has a golden opportunity to penetrate the market of ordinary users—not just the crypto community that already understands the ins and outs of DeFi.
The TON Foundation has even stated its target: to bring 30% of Telegram’s total users into their blockchain ecosystem by 2028.
