Source: DemandsageBenchmark partner Peter Fenton said Telegram’s user base is expected to eclipse 1.5 billion by 2030. Related: Toncoin surges as Pavel Durov leaves France after monthsVenture capital deals on the riseVenture capital funding continues to pour into blockchain projects as the industry gains newfound legitimacy in the United States and other markets. According to Simon Wu, partner at the San Francisco-based venture firm Cathay Innovation, crypto and blockchain projects “are gaining traction as viable solutions, especially in financial sectors like asset management, transactions, and tokenization.”As legitimacy grows, capital follows.
The Open Network Foundation, also known as TON Foundation, said several venture capital firms invested more than $400 million in the TON blockchain, signaling growing interest in the Telegram messaging ecosystem. Sequoia Capital, Ribbit, Benchmark, Draper Associates, Kingsway, Vy Capital, Libertus Capital, CoinFund, SkyBridge, Hypersphere and Karatage participated in the investment by purchasing Toncoin (TON), the native cryptocurrency of The Open Network. TON Foundation described the token purchases as strategic partnerships that will help expand the TON ecosystem, though no further details were provided.
TON Foundation claims that the Toncoin cryptocurrency has more than 121 million unique holders. According to the announcement, TON Foundation seeks to onboard 30% of active Telegram users to the blockchain in the next three years. By March, Telegram had 1 billion monthly active users, doubling in just under three years.
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