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Animoca Brands, a Hong Kong-based metaverse and gaming venture firm, has announced a strategic investment into Ton Network, and is also now the blockchain platform’s largest validator.

As announced on November 28, the Web3 firm will use the collaboration to enhance the TON ecosystem, providing funding and research. Toncoin (TON) price was up 3% on Tuesday after the news, trading around $2.46.

Animoca Brands revealed that its investment in TON had seen it become the blockchain platform’s largest validator. Apart from this, the Web3 investor is also geared towards supporting third-party gaming and GameFi projects building on TON. The goal is to help onboard more users from Web2 to Web3.

We’re pleased to announce that we have officially become the largest validator of @ton_blockchain. As projects look to scale, we will assist with the growth of various #gaming and #GameFi projects on TON.
Full details: https://t.co/VwXRPIZ8Gy pic.twitter.com/fJF6a85KEu

Justin Hyun, director of Growth at TON Foundation, said via a press release:

“Animoca Brands’ investment in The Open Network is a pivotal step towards the next era of blockchain-based gaming. Its new analytics platform and in-depth research reports represent alignment with TON Foundation’s mission. Together, we will infuse Web3 seamlessly into the daily experiences of Telegram users, particularly in gaming, for a global audience to enjoy.”

Yat Siu, co-founder and executive chairman of Animoca Brands, noted:

“This strategic investment in TON is a key part of our broader commitment to help onboard the next million Web3 users by facilitating a seamless transition from Web2 to Web3. Taking part in the network’s validation underlines our faith in the successful realization of the vision behind the TON project as it looks to bring Web3 into the mainstream.”

The investment in TON comes after an “extensive research” by Animoca, according to details in the press release. The research included two papers that explored TON Blockchain and its potential to “accelerate the mainstream adoption of crypto.”

As higglighted in the report, TON-based dApps’ user-friendliness and the blockchain network’s scalability are two elements that could catapult community growth amid TON Foundation’s goal of promoting crypto adoption and financial freedom.

One of the projects to get Animoca Brands’ support will be TON Play, a gaming infrastructure provider on TON. With TON Play, gaming projects can access the infrastructure and solutions they need to build and launch games directly onto Telegram.

Developers can also use web apps to directly port any web game inside Telegram.

The post Animoca Brands becomes TON Blockchain’s largest validator appeared first on Invezz

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