HashKey, Catizen Team Up to Expand TON Ecosystem

HashKey Group, a leading Asian digital asset service provider, has partnered with Telegram Mini App Catizen, marking its first Web3 collaboration.

The HashKey Group and Catizen partnership on the TON ecosystem is a significant advancement for Web3 and GameFi.

According to a press statement, Catizen members will receive “compliant and reliable digital asset services” from the licensed HashKey Global exchange.

The partnership, which “will focus on the Ton ecology,” is a significant achievement for both organizations as they collaborate to create “global digital entertainment infrastructure” and game finance (GameFi) technologies.

HashKey’s Selection of Catizen

The digital asset organization cooperated with Catizen due to the ecosystem’s rapid expansion within The Open Network (TON).

Ben El-Baz, managing director of HashKey Global, provided an exclusive interview in which he outlined the reasons behind the company’s decision to collaborate with Catizen:

“Over the past one or two quarters, the number of developers on the TON blockchain has rapidly increased, signaling the arrival of a thriving and prosperous period for the ecosystem.”

El-Baz claimed to have “seen several experienced teams” engaged in “games like Catizen” and “ton of projects in decentralized finance (DeFi).

GameFi on Web3, Catizen

The head of the Catizen Foundation, Tim Wong, spoke about the difficulties with GameFi and how they affect Web3 games:

“The issue of longevity impacts not only Web3 GameFi but also Web2 games. The lifecycle of any mini-game, or even a well-crafted game, is typically short.”

Wong emphasized the significance of data tracking for gauging user involvement and mentioned that the execution of a project’s market strategy and decision-making depends on “a well-designed back-end system”:

“[…] it is easy for third party platform to collect the onchain interactions and onchain users in Catizen. The latest data shows we have over 120M DAUs [daily active users] at present.”

TON Ventures fund launch

Executives from the previous TON Foundation established the TON Ventures fund on August 14, providing $40 million in investment to encourage early-stage cryptocurrency initiatives on TON.

Former TON Accelerator director Ian Wittkopp said that the venture capital firm would give early-stage TON-based startups “new support and capital.”

The venture capital firm wants to link developers and investors to promote faster development and innovation across the TON ecosystem.