Animoca Brands Officially Becomes Largest Validator On TON Blockchain

Hong Kong-based game software company and venture capital company Animoca Brands on Tuesday became the largest validator on The Open Network (TON) blockchain. The company plans to assist with the growth of various gaming and GameFi projects on the TON blockchain.

Traders have responded immediately to the Animoca Brands announcement triggering an upside move in TON price.

Animoca Brands Expands Investment in TON Blockchain

A Fortune crypto 40 company Animoca Brands has become the largest validator of The Open Network (TON) Blockchain, the company announced in a press release on November 28.

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

“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 is continuing its commitment to the TON ecosystem, assisting with the growth of third-party gaming and GameFi projects within TON’s ecosystem. The user-friendliness of TON-based dApps and TON Blockchain’s scalability are the two reasons for further investment. TON Play is one TON-based gaming infrastructure project committed for Animoca Brands’ support.

To take a deeper dive into the numbers behind TON, the Animoca digital asset team has created an analytics dashboard to visualize key metrics of TON Blockchain. The collaboration will help users to easily onboard into Web3 mini-apps. The company has been a key backer of Web3.

Additionally, two research papers that Animoca Digital Research will publish explore the potential of TON Blockchain to accelerate the mainstream adoption of crypto.

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TON Price Jumps 3%

TON price jumped 3% in the past 24 hours, with the price currently trading at $2.47. The 24-hour low and high are $2.38 and $2.47, respectively. Furthermore, the trading volume has increased by 50% in the last 24 hours, indicating a rise in the interest of traders.

Recently, Animoca Brands shifted its focus away from the U.S. after the SEC labeled Animoca’s SAND cryptocurrency as unregistered security while targeting exchanges Binance and Coinbase.

Also Read: Why Is USTC and LUNC Price Soaring? What Is Mint Cash?

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

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