The Open Platform became the first Web3 unicorn

The blockchain company The Open Platform, which develops infrastructure and applications based on TON, announced raising $28.5 million in a Series A funding round. The company's valuation reached $1 billion, making TOP the first "unicorn" in Telegram's Web3 ecosystem.

The round was led by venture fund Ribbit Capital, with Pantera Capital — one of the largest crypto funds — among the investors. In total, TOP has raised $70 million in investments since its founding. The round was purely equity-based, without token issuance, indicating strong investor confidence in the company's strategy.

TOP is closely integrated with Telegram — a messenger with over 900 million monthly active users. It is responsible for developing the official Telegram Wallet and supporting Web3 features in the TON ecosystem: from decentralized applications in gaming, AI, and finance to full-fledged cryptocurrency transaction infrastructure directly within Telegram.

Key development areas for TOP:
— buying, storing, and exchanging Toncoin and Bitcoin directly in Telegram, supporting P2P payments and integrating with dApps
— launching mini-applications such as Notcoin and Hamster Kombat, with millions of users
— focus on Asian, African, and European markets, where Telegram is most popular
— emphasis on gaming Web3 applications and P2E mechanics using TON
— strategic collaboration with Telegram and the TON Foundation, supported by Ribbit and Pantera.

The raised funds will be directed toward scaling Telegram's Web3 products, developing new services, and expanding its global presence. According to analysts, if the ecosystem continues to grow actively, the price of Toncoin could reach $10–12 by the end of 2025.

Source: blockchainmagazine.net