OKX Ventures is the investment arm for OKX. has announced a five-million dollar investment in TON Ventures. TON Ventures is the venture capital fund that supports The Open Network.
OKX stated in a X post, that the funds will be used to build Telegram native applications on TON’s Blockchain infrastructure. The goal is to create a community of builders with experience to help develop best practices to build TON applications.
Investors behind TON Ventures
In a recent interview with Cryptonews.com, Ian Wittkopp discussed with Inal Kardan the $40 million fund that he co-manages. Wittkopp stated that the CIS and Asia were seen as important markets for funding. TON Ventures is planning to introduce Web 2 users to the blockchain gaming industry.
TON Ventures, so far, has backed platforms like DeLabs and Goat Gaming. It also supports creator economy infrastructure, like Memetics. This allows Telegram communities build mini-economies. Moreover, apps that use artificial intelligence (AI), such as Grably, source data from Telegram and TON.
The OKX Ventures Team was one of first to support the TON Value Proposition, which is at the intersection between Telegram’s Social Graph and TON’s Blockchain Rails. “They [OKX Ventures] are doing an incredible job attracting top developers and funding them, pushing the TON eco-system to new heights,” Wittkopp said.
The TON fund typically invests up to $5000 in early-stage projects. TON Ventures has announced that it will be focusing on the emergence and expansion of mid-core games, as well as the monetization options available to creators in the months ahead.
OKX Ventures and Aptos Foundation launched a $10-million accelerator fund earlier this year for projects built using Aptos. The fund is designed to boost widespread Web3 adoption through the support of infrastructure, gaming, and DeFi projects.
