TON Society has announced the launch of a new $90m Ecosystem fund today. The TON Alpha-Vista Fund (TAV Fund) is backed by major cryptocurrency funds from around the globe, including VistaLabs, Alphanonce, Miner’s Fund and Kilo Fund. These funds will be closely supporting early-stage projects built on the The Open Network (TON) blockchain.
The TAV Fund aims to encourage the establishment of new projects based on TON, and ultimately to promote the use of TON as the layer-1 blockchain of choice worldwide. Its support will take the form of advisory services, networking with industry leaders, and financial backing.
Justin Hyun, Head of Incubation at TON Foundation, noted: “The TON Alpha-Vista Fund is the latest ecosystem fund to launch with an explicit focus on the TON blockchain. This marks another exciting milestone in TON’s growth and is further proof of the value seen in the TON blockchain. We are excited to support the innovative developers building on our blockchain and are looking forward to seeing the ecosystem develop.”
The TAV Fund builds on a raft of recent announcements by TON, including the TONcoin Fund’s separate $250m ecosystem fund and TON Foundation’s $1bn fundraise. It also closely follows the launch of TON Foundation’s grants and sponsorship program. As a result, each project that successfully receives funding from the TAV Fund will also receive a grant from TON Society of up to $10,000 USD.
Recently TON broadened its offer by launching a payment service, enabled through the use of the @wallet bot within the Telegram app. This service introduced a new way to send Toncoin without transaction fees for Telegram users.
Jack Shin, Head of FTX Korea, a branch of the leading global exchange, said: “TON is very competitive and advanced in terms of expandability and speed. It is ultra-fast, cheap, and user-friendly. We highly regard the potential of services and projects built natively on TON and offered through social networks.”
Jihun Mun, Alphanonce CEO, commented: “We will proactively cooperate with other incubation partners to contribute to expanding the TON ecosystem.”
Haemin Park, Partner at Vistalabs, commented: “Through the TAV Fund, we will foster an environment where founders can continuously challenge boundaries and provide support to realize amazing ideas natively on TON. Projects natively built on TON have the potential to be serviced and used by millions of people, and we have confidence that such projects will provide unprecedented values to global users.”
Projects with interest in building on TON and working with the TAV Fund are encouraged to apply here: https://tav-incubation.com/
For the list of third-party ecosystem funds building on TON, please visit: https://society.ton.org/