HashKey Group, a leading digital asset financial services provider in Asia, has partnered with Catizen to venture into the Web3 space. The collaboration will leverage The Open Network (TON) ecosystem to develop gaming finance (GameFi) products and global digital entertainment infrastructure. Through this partnership, HashKey Global, the licensed exchange under HashKey Group, will provide Catizen users access to regulatory-compliant and reliable digital asset services. The TON ecosystem has seen significant growth in recent quarters, with an increasing number of developers and projects in decentralized finance (DeFi) and gaming indicating a prosperous period for the ecosystem.
Tim Wong, Chairman of the Catizen Foundation, discussed the challenges in the GameFi and Web3 gaming sector, emphasizing the issue of game longevity affecting both Web3 and traditional Web2 games. Wong highlighted the importance of robust data tracking systems to measure user engagement and make informed strategic decisions. Catizen currently has over 120 million daily active users, making it crucial for third-party platforms to track on-chain interactions and users. This partnership coincides with the launch of TON Ventures, a venture capital firm that announced a $40 million fund to support early-stage crypto projects within the TON ecosystem, aiming to connect investors with builders to foster growth and innovation in the blockchain.
Furthermore, TON recently partnered with decentralized data oracle Pyth Network to enhance data delivery for developers building on the TON blockchain. The collaboration will integrate Pyth’s advanced oracle data feeds to provide TON developers with the necessary tools to create innovative decentralized applications (DApps). Pyth’s pull oracle technology stands out for its real-time, institutional-quality price data delivery, essential for building robust DeFi applications on TON. In addition, TON integrated with IntoTheBlock (ITB), an onchain analytics and DeFi services provider, to further enhance the capabilities and offerings within the TON ecosystem.
In June, Telegram launched “Telegram Stars,” a new digital payment feature for users to make in-app purchases on both iOS and Android devices. This feature aligns with the surge in Telegram’s mini apps, attracting millions of users daily. Hamster Kombat, a mini app gaining traction within Telegram, is a simulator game where players can increase their exchange income by purchasing “upgrade cards” and completing quests. This highlights the increasing popularity and adoption of mini apps within the Telegram platform, offering users engaging and interactive experiences with the potential for financial rewards.
Overall, the collaborations and developments within the TON ecosystem, particularly with partners like Catizen, Pyth Network, and ITB, signify a growing interest in blockchain technology and decentralized finance. The emphasis on GameFi products, digital entertainment infrastructure, and data oracles underscores the importance of innovation and user engagement in creating sustainable and successful projects within the Web3 space. As the ecosystem continues to expand and attract more developers and investors, the future looks promising for TON and its partners in driving growth, innovation, and adoption within the blockchain industry.
