SINGAPORE, Oct. 30, 2024 (GLOBE NEWSWIRE) -- OKX Ventures, The Open Platform (TOP) and Folius Ventures today announced the launch of a $10 million Telegram Growth Hub. Designed to boost innovation in TON blockchain and expand Telegram's mini-app ecosystem, the Telegram Growth Hub will fund and support projects that enhance user engagement on TON.
Telegram Growth Hub will focus on three key areas:
- User onboarding and educational tools: Projects that simplify onboarding through intuitive UI/UX and educational tools, making TON accessible for new users
- Trading capabilities and networks: Initiatives that develop on-chain trading features, such as DEX and NFT trading, liquid staking and other advanced trading functionalities
- Mini-app ecosystem expansion: Innovative mini-apps for Telegram, including gaming and entertainment applications that expand TON’s use cases
Selected projects will benefit from comprehensive support, including:
- Capital for talent acquisition and community building
- Access to OKX's suite of developer resources, such as OKX Connect, a powerful new solution designed to streamline wallet integration for developers building on TON
- Access to TOP's tool-box of developer resources and infrastructure, including Tonkeeper, TON Apps API, Playdeck, Ton App Chain, Ston.fi and Getgems NFT Platform to build, scale and engage users on TON
- Mentorship, guidance and networking from experts, marketing support and introductions to key stakeholders in the OKX, TOP and Folius Ventures networks
Telegram Growth Hub will select up to 10 promising projects for a two-month acceleration program. Selected teams will be eligible for funding from the $10 million fund. Applications are open until November 29, 2024. To apply, please visit: https://tally.so/r/mJk9R7.
OKX Ventures Partner Jeff Ren said: "We've long recognized the immense potential of the Telegram ecosystem and its choice of TON as its preferred blockchain. TON's seamless integration with Telegram's user base, coupled with the messaging app's nearly one billion monthly active users, positions the ecosystem for mass adoption. This program represents our commitment to fostering innovation and supporting projects that will shape the future of decentralized applications on Telegram. We're excited to see how developers will leverage this opportunity to create new utilities that cater to Telegram's diverse and expanding user base."
TOP MD Andrey Klebanov said: “At TOP, our goal is to empower builders with the tools and resources they need to create impactful, scalable solutions on TON. 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.”
Folius Ventures Founder Jason Kam said: "Adoption through significantly reduced onboarding, onramp, and on-chain friction has been our north star since day one of founding Folius — and we see tremendous potential for TON and Telegram achieving that purpose. The impact the TON ecosystem has had on the broader Web3 space is sizable and self-evident, and we look forward to contributing to the case of mass adoption through our support of the ecosystem growth hub program."
Telegram Growth Hub represents a significant step towards fostering innovation in the rapidly growing Telegram ecosystem. With Telegram's user base expanding by approximately 2.5 million new users daily, the fund aims to capitalize on this growth and drive the development of next-generation products for mass adoption.
For further information, please contact:
Media@okx.com
About OKX Ventures
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
About The Open Platform (TOP)
The Open Platform (TOP) is a VC and venture builder for early-stage projects on the TON blockchain. TOP provides a powerful toolkit of funding, expertise, and technology resources, streamlining access to critical tools like wallets, developer resources, SDKs, APIs, and marketplaces. With this support, TOP enables developers to build scalable Web3 products ready for widespread adoption.
For more information, please visit: top.co
Social links: Linkedin | X
About Folius Ventures
Founded in September 2021, Folius Ventures is a hybrid investment fund that focuses on the APAC Web3 landscape with a preference for small-cap / micro-cap and/or Seed-stage / Series-A targets. With most of its backed founders being in Asia, the firm focuses primarily on the application layer, including B2C apps, games, centralized exchanges, and other products with well-defined business models and strong cashflow potential. The team is spread across Asia.
Find out more about Folius Ventures here.
