TON Launches $100M Fund to Boost Blockchain Ecosystem

The TON Foundation, the developer of the Telegram Open Network (TON), has announced the launch of a $100 million fund to support projects built on the TON blockchain. The fund, called the TON Ecosystem Development Fund, aims to boost the growth and adoption of the TON network by providing financial and technical support to developers and projects.

The TON Ecosystem Development Fund will focus on supporting projects that align with the TON Foundation's vision for a decentralized, scalable, and user-friendly blockchain network. The fund will provide grants, investments, and other forms of support to projects that contribute to the development of the TON ecosystem, including but not limited to:

• Decentralized applications (dApps) and smart contracts
• Infrastructure and tooling for developers
• Decentralized finance (DeFi) projects
• Non-fungible tokens (NFTs) and digital assets
• Gaming and virtual reality projects

The TON Foundation has stated that the fund will be managed by a team of experienced investors and blockchain experts, who will evaluate proposals based on their potential to drive innovation, adoption, and growth within the TON ecosystem. The fund will be open to projects from around the world, with a focus on supporting diversity and inclusion in the blockchain industry.

In addition to the TON Ecosystem Development Fund, the TON Foundation has also announced a series of other initiatives aimed at promoting the growth and adoption of the TON network. These include:

• A new grant program for AI builders, called Magnum Opus, which will provide $10 million in retroactive grants to support projects at the intersection of generative AI, autonomous systems, and decentralized technology.
• The launch of a new grant program by AirDAO, which aims to promote blockchain adoption, develop its ecosystem, and enable real-world use cases by providing funding, exposure, and expert guidance to early-stage creative projects or the expansion of existing projects.

These initiatives, along with the TON Ecosystem Development Fund, demonstrate the TON Foundation's commitment to fostering innovation and growth within the TON ecosystem. By providing financial and technical support to developers and projects, the TON Foundation aims to create a vibrant and thr