TON Labs Acquired $6 Million In Support Of Free TON Blockchain

TON labs acquired $6 million in support of a free TON blockchain and this investment round was led by Runa Capital and RTP Global as we can see more in our latest blockchain news today.

The development arm behind the Free Ton Blockchain, TON Labs acquired $6 million via an investment round that was led by venture capital company Runa Capital. The funding will go towards building a new production environment for the Free TON blockchain which the company described as the fastest decentralized protocol because of its unique dynamic sharding mechanics. Dmitry Chikachev who is a general partner at Runa Capital said that Ton Labs is now the only blockchain company that received funding from the company:

 “As a deep tech and software investor, we appreciate the technical challenges solved by the company and see a strong potential in the high-performance decentralised computing platform FreeTON.  The team, their sophisticated approach and the open-source TON project itself radically differ from other ventures in the blockchain space, and Runa is thrilled to support such a unique project.”

In addition to Runa Capital, RTP Global is an investor of early-stage technology companies that contributed to the funding round. The executive Stephan Ivanov said:

 “We believe TON Labs can finally take the blockchain from the niche and geeky space today to a mainstream technology that strongly complements the current IT landscape.”

Free TON received a mainnet status back in 2020 after reaching “sufficient decentralization” or more than 400 validators and decentralized autonomous organizations. The project launched in May 2020 as an infrastructure solutions provider for the Telegram Open Network so when the New York Federal Court launched an injunction on the team, it prevented more developments of the network and Free TON emerged as an independent project that finalized the Telegram code and created the new TON Operating System.

What have an NFT marketplace, a Chrome wallet browser extension, and the @dune_network to #freeton swap architecture got in common?

They're all contests (with over 750,000 #TON💎 up for grabs!) running right now, over on https://t.co/TOcEj6VIXi pic.twitter.com/G2LL6lm7EX

— Free TON (@CommunityTon) March 22, 2021

As reported previously, Free TON merged with Dune Network which was expected to provide support for wider adoption of the blockchain technology and decentralized governance with the merger expected to be finalized later this year after the full allocation of the TON Crystals to the Dune Network.

Also, as reported recently, TON Labs partners with China’s BSN to build applications on the Telegram protocol and according to the announcement, the partnership grants BSN developers access to the TON technology.