Bitget Wallet, the Bitget exchange’s non-custodial bitcoin wallet, has partnered with Foresight Ventures to launch a $20 million financing campaign to support Telegram’s Mini App ecosystem. The project, announced on November 11, seeks to provide financial, technical, and marketing resources to developers working on Telegram Mini Apps, thereby creating new chances in the digital arena.
Telegram Mini Apps, which include popular platforms like as Notcoin and Hamster Kombat, have had a significant impact on the growth of the TON blockchain. However, TON has recently faced challenges, including a large reduction in its total value lock (TVL). According to the latest recent data, TON’s TVL peaked at $776.6 million in July 2024 before falling to $356 million. The market’s reaction to Telegram CEO Pavel Durov’s legal troubles in August, which harmed investor and user trust, also contributed to the decline.
Bitget Wallet and Foresight Ventures seek to address these challenges by providing additional funding and ongoing support to both new and existing TON initiatives. The program will give developers access to Bitget’s OmniConnect developer toolkit, as well as operational and marketing help, including exposure to Bitget’s Telegram wallet user base. We hope that this comprehensive aid package will encourage community growth and involvement, which are critical to the ecosystem’s long-term viability.
Bitget Wallet and Foresight Ventures’ fresh investment aims to restore TON’s stability and foster future innovation in the Telegram ecosystem. The program aims to support the next wave of Mini Apps, assisting TON in achieving greater acceptability and community participation by strategic investment, technical assistance, and market exposure.
