Web3 investment firm Animoca Brands will invest in the TON Blockchain protocol. It will also be its largest validator as it aims to develop GameFi on the platform. TON price reacted positively to this development. The altcoin rose despite the weak market outlook.
Animoca Brands invests in TON, altcoin price rises
Web3 investment firm Animoca Brands is poised to become the largest validator on The Open Network (TON) Blockchain. It also plans to offer blockchain-based games to messaging app Telegram’s 800 million users. The value of Animoca’s investment is not yet clear. However, it appears that some of the investment was made directly into staked TON as part of the validator agreement. Following this development, the TON price made a move northward. At press time, the altcoin was trading at $2.47, up 2.28% on a daily basis.
TON daily price chart. Source: CoinMarketCapWhat will the parties benefit from cooperation?
Animoca conducted extensive market research on the altcoin project’s broader ecosystem. He also focused on the platform’s ability to drive cryptocurrency and GameFi adoption. The firm plans to strategically support TON Play, a gaming infrastructure project based on the TON Blockchain. The infrastructure allows gaming apps to be built on TON and launched on Telegram, or even port existing web-based games to the messaging app.
Ton Play will enable developers to offer games to approximately 800 million Telegram users through the web app and the mobile app’s PlayDeck bot, which allows users to browse a catalog of mobile games. Meanwhile, Animoca has a portfolio of more than 400 Web3 projects. Now, it will also explore the possibility of porting some of these to Telegram. Animoca Brands Research has also developed its own TON Analytics Dashboard, which aggregates various metrics from TON’s open internet ecosystem, including TON Blockchain, TON DNS, TON Storage, and TON Sites.
Animoca Brands Research has created a live dashboard that tracks the underlying networks of the TON ecosystem. Source Animoca BrandsThis altcoin project is trying to bring Web3 into the mainstream
TON Foundation growth director Justin Hyun said research reports provided by Animoca will play a key role in infusing Web3 functionality into Telegram users’ daily experiences. Animoca Brands co-founder Yat Siu made some statements about the investment in TON. Siu noted that the investment is in line with efforts to encourage the transition and adoption from Web2 to Web3. In this context, Siu shared the following comment:
Taking part in the validation of the network underlines our belief in the successful realization of the vision behind the TON project, which strives to bring Web3 into the mainstream.
Siu stated that Animoca has identified significant growth potential for games within the TON ecosystem. He also added that he aims to develop TON-based games in the next few years. To be informed about developments cryptokoin.comDon’t forget to follow
