Crypto Giant Pantera Capital Backs The Open Network (TON) Amid Telegram Integration Surge

Pantera Capital Invests in The Open Network (TON) as Telegram Integration Gains Momentum

Pantera Capital, a prominent venture capital firm in the crypto sphere, has recently injected an undisclosed amount into The Open Network (TON), marking a significant milestone for TON’s growth within the vast user base of the Telegram messaging platform.

This investment underscores the increasing interest from notable investors in emerging blockchain technologies and their potential to revolutionize various industries.

Pantera Capital‘s decision to invest in TON is driven by its belief in the platform’s integration with Telegram as a pivotal step towards bringing cryptocurrency to the masses. Particularly, the recent implementation of ad revenue-sharing on Telegram highlights TON’s expanding utility.

Through the use of the Toncoin (TON) token, this feature showcases the platform’s potential for widespread adoption. Channel owners can now earn 50% of advertisement revenue generated within their channels, as reported by BeInCrypto.

With Telegram boasting an impressive monthly active user base of over 900 million, the environment for TON’s growth and development appears promising.

“We see TON network’s current stage as just the beginning, and we’re excited to witness its ecosystem’s adoption and the introduction of new features among Telegram users,” expressed the firm.

Telegram has recently augmented its platform by enabling users to conduct purchases and payments using the TON token, including facilitating transactions with the Tether (USDT) stablecoin. This enhancement came before the funding from Pantera Capital, coinciding with TON’s integration with stablecoin issuer Tether.

Moreover, TON developers have allocated $5 million in TON tokens to drive the adoption of an innovative palm-scanning identity verification technology among users.

Following the announcement, TON’s token price saw a significant uptick. At the time of writing, TON is trading at $5.39, marking an increase of 12.45% for the last 24 hours.