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Animoca Brands Invests in TON Network, Becomes Largest Validator
The gaming and metaverse-focused firm declined to provide details of its investment.
Nov 28, 2023, 12:00 p.m. 1 min read
Gaming and metaverse-focused venture capital firm Animoca Brands has made an investment in the TON ecosystem and become the largest validator on the TON blockchain.
Hong Kong-based Animoca Brands is assisting third-party gaming projects to build in the ecosystem by supporting TON Play, the network's gaming infrastructure project, according to an announcement on Tuesday.
Animoca declined to provide details on the terms of its investment when contacted by CoinDesk.
TON received the endorsement of Telegram as its blockchain of choice for Web3-related developments in September, giving potential TON-based projects a prospective target audience of the messaging app's 800 million users.
Read More: Animoca Brands Courts $50M Investment From Saudi Arabia's NEOM
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The inclusion could attract fresh passive inflows from index-tracking funds, while the firm's stock tanked 95% from its peak over the past year.
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- SharpLink will join the Russell 2000 and Russell 3000 indexes effective June 29.
- The company held nearly 873,000 ETH, worth roughly $1.8 billion at current prices.
- The inclusion comes as many digital asset treasury firms have slowed or halted crypto purchases.
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