Pantera Capital, a crypto-focused venture capital firm, has made an undisclosed investment in The Open Network (TON) due to its connection to the popular messaging service, Telegram. Pantera believes that TON has the potential to become one of the largest crypto networks, especially since Telegram has 900 million monthly users and 36.7 million monthly downloads, making it well-positioned to bring crypto to the world.
In a detailed blog post, Pantera highlighted several advantages of TON. It praised the architecture of the TON blockchain, which offers high performance and scalability that rivals other leading blockchains. Additionally, Pantera commended the utility and user-friendly interface of TON’s wallet. The firm also praised the mini-apps that TON enables on Telegram, as well as the new monetization opportunities such as ad revenue sharing and tradable customized usernames, virtual phone numbers, and emojis.
Pantera emphasized the significance of the Telegram-TON linkup, as TON was originally designed to integrate with Telegram but faced regulatory challenges from the United States Securities and Exchange Commission. However, Telegram was able to relaunch TON with the help of independent developers, making it the only major messaging platform to incorporate Web3.
Pantera currently manages $5.2 billion in assets across four funds and recently announced the formation of a new $1 billion fund in April.
Cointelegraph reached out to Pantera for further information but did not receive a response at the time of publication.