Latest news from Telegram: Animoca Brands, a leading company in the web3 sector, has become an official validator of the TON crypto ecosystem.
The TON blockchain, also known as “The Open Network”, can now count on the presence of one of the reference figures in the GameFi industry, who will help manage a validation node for the network and, in the near future, contribute to building a gaming community together.
The crypto universe of Telegram is constantly improving over time, with strongly positive on-chain metrics signaling a growing infrastructure.
In the coming years, we can easily expect TON to land among the most renowned cryptographic networks in the blockchain landscape.
Let’s see all the details of the partnership below.
Anomica Brands becomes a validator of the Ton blockchain: another small milestone for Telegram’s crypto ecosystem
TON Foundation, the entity that governs Telegram’s crypto infrastructure, announced yesterday that Anomica Brands, a game software development company, will become the largest validator of the Ton blockchain.
The strategic collaboration aims to expand the number of managers of the cryptographic network nodes by including one of the most appreciated and well-known companies in the world of web3 in the list of professionals.
Animoca Brands, which boasts well-known projects in its portfolio such as Yuga Labs, Axie Infinity, Polygon, Consensys, Fireblocks, OpenSea, Dapper Labs, Yield Guild Games, and many others, will contribute to the development and growth of a wide range of decentralized games within the TON cryptographic ecosystem.
Before accepting the agreement with Telegram’s crypto universe, the company has delved into the internal dynamics of the blockchain by conducting careful analysis and identifying a fertile ground for expansion in the coming years.
In particular, Animoca Brands highlighted how the scalability of the TON network and the ease of use of dapps based on it are among the most interesting elements that could drive mainstream adoption of the technology.
The company has also provided its stakeholders with an analysis dashboard where they can view Ton’s key growth parameters, accessible through this link.
We can observe, for example, the metric of the number of daily transactions managed by the network: this data has fluctuated in the last few days between 235,000 and 170,000 tx, with a cumulative number of 166 million tx, demonstrating that there is a strong active user base within the ecosystem.
In concrete terms, the partnership, in addition to electing the Hong Kong company as a validator of the Telegram cryptographic network, will help seamlessly integrate existing web3 users into new web3 mini-apps, with a strong use case value.
The goal is therefore to shift the focus of the average user’s attention from typical web2 products to web3 products, through small gradual steps.
In this context TON Play represents a central infrastructure in the architecture of Telegram where Ton-based games can be launched, or existing games can be transferred directly to the social media.
Animoca Brands will essentially support the onboarding process of new users on this cryptographic section and help build new GameFi experiences.
Regarding this news, Justin Hyun, Growth Director at TON Foundation, stated that:
“Animoca Brands’ investment in The Open Network is a fundamental step towards the next era of blockchain-based games. Its new analytics platform and in-depth research reports represent alignment with the TON Foundation’s mission. Together, we will seamlessly infuse Web3 into the daily experiences of Telegram users, especially in games, so that a global audience can appreciate it.”
Market analysis of the TON currency
Toncoin (TON), the reference cryptocurrency within the Telegram ecosystem, could gain a strong competitive advantage over other competing cryptographic assets through its collaboration with Animoca Brand.
The currency, which currently has a value of 2.43 dollars, boasts a market capitalization of 8.29 billion dollars and a trading volume in the last 24 hours of about 45 million dollars.
2023 hadn’t started off well for TON, with the crypto recording a -50% in trading during the first half of the year.
From August onwards, however, it managed to recover all the lost ground, even reaching the local highs set at $2.90, which separate from price levels that are still relatively unexplored.
The current price action suggests that the coming months could also be bullish for TON: a structure of higher highs and higher lows, as highlighted in the weekly chart of the crypto, is typical of an asset that is trending upwards.
It should be considered, however, that the current price compression in the trading range of 2.3-2.5 dollars could temporarily result in both a positive and negative breakout. The important thing for the currency is that the support of 1.9 dollars does not fail, which essentially divides the expectations of the bulls and bears.
The volumes of the second half of the year are encouraging and suggest that there are more chances of a bullish continuation rather than a reversal.
Infrastructure development represents the key factor that could indirectly lead Telegram’s cryptocurrency and the entire decentralized ecosystem to grow in the coming years, eventually competing with industry giants like Ethereum, BNB chain, and Solana.
At the moment, despite the rapid evolution of recent years, the road is still long and it will be necessary to build successful applications in order to achieve this goal.
If things were to go in the right direction, TON would definitely receive appreciation from investors, who could push its value above $5 during the next bull run.
