Abu Dhabi's Launch of 'Hub71+ Digital Assets' Opens up TON Foundation Ecosystem to $2B Start-Up Hub

The TON Foundation, a non-profit association of developers and enthusiasts that exists to advance The Open Network (TON), has opened up its ecosystem to start-ups and investors based at Hub71+ Digital Assets, an Abu Dhabi-based Web3 specialist ecosystem backed by the Government of the United Arab Emirates (UAE), with more than $2 billion of capital to deploy.

Hub71+ Digital Assets will channel start-ups into the growing TON ecosystem, enabling innovative projects to benefit from revolutionary technology to unite all blockchains and Web2 internet into one open network.

Hub71+ Digital Assets will also give priority access to the pool of capital available to TON-based projects put forward by TON Foundation. The $2 billion of capital in government funding committed to fund Web3 startups and blockchain technologies in the Abu Dhabi-based hub will pave the way for the UAE to play a pivotal role in the Web3 ecosystem.

Furthermore, the collaboration with Hub71+ Digital Assets will cement TON Foundation's position among regulators and key stakeholders in the emerging digital economy of the UAE, enhancing opportunities for it to engage in consultation and licensing initiatives.

Start-ups based at Hub71+ Digital Assets will also have the opportunity to apply for funding with the $250 million TONcoin.Fund. TONcoin.Fund is interested in meeting teams that are building TON-native products, aimed at tapping into 700 million Monthly Active Users (MAU) on Telegram Messenger.

TONcoin.Fund also considers cross-chain projects that bring users, liquidity and value to the TON ecosystem. The fund's portfolio includes investments across all sectors of Web3, including DeFi, GameFI, SocialFi, metaverse, payments, stablecoins and DAOs.

"Through our partnership with Hub71, we are excited to welcome innovative founders and strategic investors into the TON ecosystem," said Steve Yun, Founding Member of TON Foundation. "Empowered by the leading regulatory framework of Abu Dhabi, we look forward to nurturing an organic yet explosive growth of the two blockchain ecosystems together."

Web3 startups, from seed to unicorn stage, will benefit from the ability to scale globally through Hub71+ Digital Assets, unlocking access to a host of programs, initiatives, and its extensive range of Web3 focused corporate, government and investment partners in the UAE and global markets. Hub71+ Digital Assets will be based at Hub71 in Abu Dhabi Global Market (ADGM) where Web3 startups can operate in a progressive regulatory environment, which offers world-class blockchain and virtual asset infrastructure.

Hub71+ Digital Assets will contribute to supporting the UAE Digital Economy Strategy, which aims to double the contribution of the digital economy to non-oil GDP to more than 20 per cent within 10 years.


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