TON Society Launches to Deepen Community Decentralization

Key points

The TON Society was created to manage TON events and enhance community interaction.
TON Ventures launches $40 million fund to support TON ecosystem projects.

Former TON Foundation directors have created TON Society, a startup dedicated to promoting decentralization within The Open Network (TON) ecosystem. The initiative will manage TON events and official community channels.

The initiative is led by Jack Booth and Ekin Tune, both of the TON Foundation, who serve as executives. According to them, the company is a spin-off from the foundation to become an independent entity representing the TON community. Booth, who previously served as marketing director, said the split was necessary to “become a spokesperson” for the community.

Identity in chain, grassroots community

The company was born as a grassroots initiative across nine global event centers in Asia and Europe. It now aims to encourage active community participation through a system of on-chain achievement badges. These badges will help establish an on-chain reputation for members and contribute to the development of the TON Society ID.

This on-chain ID system will allow members to participate in reputation-based governance on TON and support projects to engage users. Jack Booth explained that the ID system will be integrated into various aspects of TON Society, including membership, event attendance, hackathon access, and qualification for airdrops with partner projects.

In a parallel development, former high-ranking members of the TON Foundation have launched TON Ventures, a new venture capital firm with a $40 million fund. This fund aims to support early-stage cryptocurrency projects developing within the TON ecosystem and connect investors with developers to foster innovation and growth.

crypto Briefing previously reported how the TON Foundation confirmed in April that a Toncoin-based economy is emerging within Telegram, fueled by Open League rewards and a new focus on Toncoin for advertising payments.

Earlier this month, Toncoin was listed on Binance. A month earlier, the TON blockchain introduced gas-free transactions for its users.

By implementing on-chain reputation systems and providing financial support to promising projects, these initiatives seek to drive innovation and user engagement in the rapidly evolving blockchain space.