Animoca becomes largest validator of Telegram’s TON blockchain
2 min read
Web3 investment firm Animoca Brands is set to become the largest validator of Telegram’s TON (The Open Network) blockchain and plans to deliver blockchain-based games to the messaging app’s 800 million strong user base.
An announcement shared with Cointelegraph outlined how the partnership will involve the provision of funding, research, and an analytics platform for third-party TON ecosystem applications.
The value of Animoca’s investment was not disclosed at the time of publishing, but part of the investment is understood to have been made directly into Toncoin, which has been staked as part of the validator agreement.
Animoca Brands co-founder Yat Siu said the investment in TON is aligned with the firm’s efforts to drive adoption and the transition of Web2 to Web3.
“Taking part in the network’s validation underlines our faith in the successful realization of the vision behind the TON project as it looks to bring Web3 into the mainstream.”
Siu added that Animoca has identified significant growth potential of gaming within the TON ecosystem and intends to drive the development of TON-based games over the next few years.
The partnership with TON is the second instance of Animoca becoming a validator of a proof-of-stake blockchain protocol in Nov. 2023. The firm joined fan token blockchain Chiliz Chain as a validator for its native proof-of-stake authority protocol on Nov. 14.
Chiliz Chain is the backbone of Socios.com, which operates a plethora of fan tokens for some of the biggest global football and sports teams. Europe’s most loved football clubs and several household sports brands have tapped into the solution to power Web3 fan tokens and other blockchain-based offerings.
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