TON Foundation Joins Forces With Future3 Campus for Incubation Program Aimed at Boosting Toncoin App Development

 Key takeaways

• Toncoin (TON) launches new ecosystem fund in collaboration with Future3 Campus, aiming to support founders who are building new ‘Web 2.5’ applications in Telegram
• Future3 Campus will provide a $50 million seed fund that will include $7.5 million split between 15 early stage mini-apps
• The TON price prediction algorithm expects a short-term consolidation after a period of sustained growth for The Open Network ecosystem, forecasting a +4.28% move in the next 30 days

Future3 Campus will provide a $50 million seed fund as The TON Bootcamp prepares mini-apps for integration with Telegram

The current price of Toncoin (TON) is $2.38, up +0.82% in the past 24 hours and +10.49% in the past month.

TON Foundation has unveiled a new initiative that aims to encourage the expansion of its application ecosystem. The foundation, which represents The Open Network (TON) blockchain, has partnered with Future3 Campus to provide a $50 million seed fund that can support new ‘mini-apps’ within Telegram instant messenger.

? @Future3Campus partners with TON Foundation to launch The TON Bootcamp, a 5-month incubation program aiming to boost mini-app development within @telegram’s #TON-based Web3 ecosystem.

? Details: https://t.co/jvS5ae8jlS
✍️ Apply by Dec 18 here: https://t.co/VfU1ONG3yU pic.twitter.com/BVhWzIuCtb

— TON ? (@ton_blockchain) November 22, 2023

An increasing number of Telegram-native applications have launched in 2023 thanks to its seamless connection to TON. Binance Research found that more than $10 million of on-chain volume was processed by Telegram trading bots by mid-2023, and TON Foundation has launched several initiatives in recent months to encourage ecosystem growth.

The new partnership with Future3 Campus will provide 15 founders with up to $500,000 each in a bid to support the next wave of innovation on Telegram. The program will also include a developer bootcamp that sheds more light on ‘Web 2.5’, as Telegram mini-apps bridge the gap between Web2 development and Web3 network benefits.

In total, The TON Bootcamp lasts for 5 months and provides founders with a variety of useful tools that can help them to launch new mini-apps on Telegram. TON Foundation stated in a recent Telegram post that participants will “get priority access to Telegram’s 800 million active users, among other benefits.”

TON continues to expand following official business partnership with Telegram and a series of positive developments

A recent update from TON Foundation stated that Q3 2023 was “the most exciting quarter ever witnessed” for the decentralized blockchain network. TON achieved a ground-breaking partnership with Telegram which provides tApps with seamless access to more than 800 million active users. The price of TON rose +58% while the news broke, as the blockchain aims to onboard up to 500 million Telegram users by 2028.

TON hopes to attract 30% of Telegram’s active user base in the coming years

Following a highly successful period for TON in which the total number of accounts rose to 3.5 million and the total number of on-chain wallet addresses rose to 800,000, the network’s native cryptocurrency was then listed as an approved digital currency by Dubai International Finance Centre (DIFC).

TON joins Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP (XRP) on an exclusive list of digital assets that can be used in the traditional finance system of Dubai. This provides another indication for TON’s growth potential as a cryptocurrency that could support true global use over the coming years.

Algorithm predicts that TON will consolidate its recent action over the next month, forecasting a +4.28% move during the period

TON rose by +40% between its October low at the $1.92 price level and its November high at $2.70. The cryptocurrency has retraced since reaching its recent peak, falling back to support at $2.30 and so far holding it well.

The TON price prediction algorithm expects a consolidation over the next month in which TON would, for the most part, continue to range between $2.30 and $2.65. This could precede a breakout over longer time frames if the wider crypto markets enjoy another leg up.

In total, the price prediction algorithm expects TON to rise +4.28% in the next 30 days, which would take the token to $2.48 by 22nd December.

Bottom line: TON Foundation’s partnership with Future3 Campus is designed to support ecosystem growth as TON seeks to maintain its recent bullish momentum

From an official partnership with Telegram instant messenger that unlocks direct access to 800 million active users to the number of on-chain wallet addresses growing 2x in a year, TON has enjoyed a period of growth that looks set to continue into 2024 and beyond.

To help support the expansion of the ecosystem, Future3 Campus is supplying $50 million where a significant portion will be used to fund early-stage founders building new Telegram mini-apps.

On balance, TON continues to make strides towards becoming one of the most widely-used blockchain networks that currently exists. The TON price prediction algorithm expects a period of muted volatility for the native token, but 2024 could see higher prices as long as the current structure holds.