Animoca Brands Becomes Largest Validator on TON Blockchain
Hong Kong-based game software and venture capital company Animoca Brands has announced that it has become the largest validator on The Open Network (TON) blockchain. The company aims to support the growth of various gaming and GameFi projects on the TON blockchain.
Immediate Response from Traders
The announcement from Animoca Brands has led to an immediate positive response from traders, resulting in an upward movement in the price of TON.
Expanding Investment in TON Blockchain
Animoca Brands, a Fortune crypto 40 company, has increased its involvement in the TON blockchain by becoming its largest validator. The company’s co-founder and executive chairman, Yat Siu, emphasized their commitment to onboard millions of Web3 users and facilitate a smooth transition from Web2 to Web3.
“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.”
Animoca Brands will continue to support third-party gaming and GameFi projects within the TON ecosystem. They are particularly interested in the user-friendliness and scalability of TON-based dApps. One project they are actively supporting is TON Play, a gaming infrastructure project on the TON blockchain.
The collaboration between Animoca Brands and TON also includes the creation of an analytics dashboard to provide key metrics and help users easily access Web3 mini-apps. Animoca Digital Research, a subsidiary of Animoca Brands, will publish research papers exploring how TON Blockchain can accelerate the mainstream adoption of cryptocurrencies.
Rise in TON Price
Following the news, the price of TON has increased by 3% in the past 24 hours, currently trading at $2.47. The trading volume has also risen by 50%, indicating growing interest from traders.
Shift in Focus for Animoca Brands
Recently, Animoca Brands has shifted its focus away from the U.S. due to regulatory concerns. The company faced issues with the SEC regarding its SAND cryptocurrency, which was labeled as an unregistered security. The SEC also targeted exchanges Binance and Coinbase in relation to this matter.
Hot Take: Animoca Brands Takes a Leading Role in TON Blockchain
Hong Kong-based game software company and venture capital firm, Animoca Brands, has made a significant move by becoming the largest validator on the TON blockchain. With a commitment to onboard millions of Web3 users, Animoca Brands aims to facilitate a seamless transition from Web2 to Web3. By supporting third-party gaming and GameFi projects within the TON ecosystem, Animoca Brands is leveraging the user-friendliness and scalability of TON-based dApps. This strategic investment has already resulted in a 3% increase in TON’s price, indicating positive sentiment among traders. As Animoca Brands continues to expand its presence in the blockchain industry, it will be interesting to see how their involvement in TON further shapes the future of gaming and crypto adoption.
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