Telegram Ad Platform goes live, continuing to attract Web3 firms to TON.

Mirana Ventures, a Web3 investment firm, has invested $8 million in the TON blockchain, which powers Telegram’s advertising platform. This investment will be used for ongoing product developments involving the TON Foundation, Bybit, and the Ethereum layer 2 Mantle Network. The Telegram Ad Platform, built on the TON blockchain, was launched in March 2024, allowing Telegram channel owners to sell advertising and share revenue in Toncoin. Bybit has been increasingly involved in the TON ecosystem, with previous initiatives generating over $22 million in trading volume. By utilizing Telegram’s massive user base, Bybit plans to leverage the advertising platform. Initially developed by Telegram, the TON project was taken over by open-source developers after a legal battle with the SEC. The TON Foundation was established in May 2021, and TON Space, the self-custodial wallet within Telegram, allows users to manage Toncoin tokens and collectibles. In addition to Mirana Ventures’ investment, the TON Foundation announced the integration of TON-based MNT tokens with Mantle Network, enabling Mantle Network users to access gamified campaigns and advertising offerings within Telegram. TON Foundation president Steve Yun emphasized the growth potential of the partnership between Mirana, Mantle, Bybit, and TON. Animoca Brands, a Web3 investment firm, also made an undisclosed investment and became the largest TON validator.