- Shortly after making the largest investment in the token history earlier this year, Pantera Capital is increasing its wager on the TON token.
Funding for a new fund dedicated to investing in Toncoin (TON -2.50%) from The Open Network is being sought after by Pantera, a cryptocurrency venture capital firm that is increasing its stake in the token by double.
The fund, named the Pantera TON Investment Opportunity, seeks to acquire money to purchase additional TON tokens.
In order to guarantee a spot in the fund, interested parties must submit a form expressing their interest in the chance by June 21. The form states that a backer must invest a minimum of $250,000.
Pantera has a large wager on TON
Pantera launched its new TON fund not long after making the biggest TON investment since the company’s founding in 2003.
Pantera is extremely optimistic about the token’s future, as evidenced by the most recent TON fundraising initiative.
We think the TON network is still in its infancy, and we can’t wait to see how the Telegram user community embraces its ecosystem and new features. A Pantera partner named Ryan Barney stated last month.
Telegram was the one that first introduced the Telegram Open Network, or TON blockchain. But after the US Securities and Exchange Commission asserted in 2019 that Telegram’s sale of tokens known as Grams violated federal securities laws, the business pulled out of the project. Telegram and its affiliate TON Issuer Inc. agreed to pay a $18.5 million civil penalty and repay investors for more than $1.2 billion in 2020.
After that, the TON blockchain was independently developed by the open-source community, although Telegram kept the network operational.
The messaging behemoth unveiled a 50/50 revenue split between the platform and channel operators along with a unique TON token payment mechanism earlier this year for channel owners.
Growth of TON blockchains accelerates
Recently, there has been a sharp increase in the quantity of TON blockchain transactions and users. Additionally, Tether’s USDT stablecoin became accessible on the TON network in April.
With more than 400 million USDT in circulation in less than two months, the network has adopted USDT more quickly than any previous blockchain, according to Pantera’s email.
According to Pantera’s email, Telegram gaming mini-apps have grown at an astounding rate, surpassing all previous cryptocurrency games.
When comparing Notcoin and Hamster Kombat with Axie Infinity, the company found that, in just five months after introduction, Notcoin had 35 million players and about 10 million daily active users, while Hamster Kombat had 100 million players and between 40 and 45 million daily active users. Bots, though, might be included in those figures.
With around $5 billion in assets under management, Pantera is a venture capital firm. Currently, it is raising $1 billion for a new cryptocurrency fund called Fund V, which it plans to use for venture equity, exceptional opportunities, early-stage tokens, and liquid tokens.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
