The Open Network, or TON ecosystem, received an $8 million investment from the web3 company Mirana Ventures.

According to an Open Network (TON) blog post dated Mar. 6, the team behind TON explained how the strategic investment would be used moving forward.

“This collaboration provides financial support to TON and long-term assistance in building Telegram’s Web3 SuperApp, along with collaborating with other blockchains, such as Mantle Network.”

TON team

The TON team reported that, together with Mirana Ventures, it is introducing the SuperApp to promote mass adoption of blockchain technology by accelerating the development of an accessible and user-friendly application.

In recent weeks, TON has shown impressive development. In particular, the native token of the Toncoin project (TON) has grown by 30% over the past month and was nominated for the 2024 CoinMarketCap Crypto Awards.

Among the possible reasons for the growth, Pavel Durov, founder of the Telegram messenger, announced a new financial reward system in the TON cryptocurrency. Starting in March, owners of Telegram channels from more than 100 countries will begin to receive 50% of the income that the messenger earns by placing advertising in their channels.

The next day, the Telegram founder announced new measures to limit the platform’s TON share to approximately 10% of the total issue. Durov says this will reduce the token’s volatility and increase the number of long-term cryptocurrency holders.