Gamee Secures Funding from Pantera Capital to Expand on The Open Network

Animoca Brands' gaming subsidiary, Gamee, has received an investment from Pantera Capital to expand its presence on The Open Network (TON). This move sees the California-based venture capital firm further bolster its commitment to TON, following a significant investment in the network earlier this year.

While the exact sum of the investment was not revealed, it is understood to facilitate Gamee's growth on TON via WatBird, a Telegram-based app. This funding follows a recent investment from TON Ventures, a venture capital firm focused on supporting TON-based startups.

Commenting on the news, Gamee co-founder Bozena Rezab highlighted the significance of the investment, stating it represents "a significant vote of confidence in our vision to seamlessly integrate web3 mechanics into the gaming experiences we’ve cultivated for our community of 90 million gamers." She added: "This support will help us accelerate our mission to strengthen the community’s engagement with the TON ecosystem."

For Pantera Capital, this investment marks another strategic move into TON. In May, the firm announced its "largest investment ever" in the network, showcasing its belief in TON's potential to "introduce crypto to the masses because it is used extensively within the Telegram network."

This investment in Gamee follows Pantera's acquisition of $250 million worth of Solana (SOL) from the estate of the bankrupt FTX exchange, demonstrating the firm's continued commitment to expanding its presence within the blockchain space.

Gamee's recent investment from Pantera Capital signifies a growing interest in the potential of TON, and highlights the firm's confidence in the platform's ability to drive mass adoption of cryptocurrency. As Gamee continues to expand its presence on TON, it is expected to play a pivotal role in attracting new users and bolstering the network's overall growth.