The Open Network (TON) has raised over $400 million from top-tier venture capital firms, signaling a major leap forward for blockchain adoption within Telegram’s ecosystem. Leading investors in this round include Sequoia Capital, Benchmark, Ribbit Capital, Draper Associates, and VY Capital.
TON Becomes Telegram’s Financial Backbone
Telegram founder Pavel Durov emphasized the growing role of TON in the app’s operations. Over the past year, TON has effectively become Telegram’s default financial infrastructure. It’s now:
• The main way for creators to cash out earnings
• The go-to method for ad payments in most markets
• The required blockchain for mini apps used by hundreds of millions
Additionally, Telegram’s digital products—such as usernames and virtual gifts—are now exclusively issued as TON-based NFTs.
Why Investors Are Betting Big on TON
What sets TON apart is its strong technical foundation. Its advanced sharding architecture allows it to handle massive transaction volumes, making it one of the few blockchains designed to scale for close to a billion users.
This capability, coupled with Telegram’s global user base, caught the attention of major investors. Shaun Maguire of Sequoia Capital praised TON’s blend of crypto infrastructure and user-centric product design, highlighting the synergy between Telegram’s reach and TON’s vision.
Massive Expansion Ahead
With this new funding, TON is aiming to bring 300 million Telegram users—about 30% of its base—onto its blockchain by 2028. To drive adoption, the project will focus on:
• On-chain mini-games and collectibles
• Native Telegram features like stickers as blockchain assets
• User-friendly DeFi tools
• In-app payments for real-world goods and services
These initiatives aim to merge everyday digital interactions with blockchain technology, making crypto usage seamless and engaging.
As TON evolves, this landmark investment marks a turning point—not just for Telegram, but for the broader Web3 and creator economy landscape.
