Oak Grove Ventures has announced a $5 million investment in DuckChain, a blockchain platform leveraging TON-based EVM (Ethereum Virtual Machine) solutions to enable decentralized applications (dApps) within the Telegram ecosystem.
DuckChain’s funding round also saw participation from prominent backers, including dao5, Tandem by Offchain Labs, Kenetic Capital, DWF Ventures, Skyland Ventures, and angel investors from leading projects like Camelot and Quantstamp.
Empowering Developers and Bridging Web2 to Web3
DuckChain aims to harness Telegram’s massive user base of over 30 million active users to drive the adoption of blockchain technology. By seamlessly integrating with Telegram’s ecosystem, DuckChain enables developers to build scalable dApps tailored to both developers’ and users’ needs, bridging the gap between Web2 and Web3 technologies.
Strategic Investment for Blockchain Advancement
Oak Grove Ventures, a global investment firm specializing in Web3, AI, and biotechnology startups, views its investment in DuckChain as a strategic move to accelerate the adoption of decentralized applications. With offices in key hubs like Silicon Valley, Singapore, Hong Kong, and Tokyo, Oak Grove Ventures focuses on identifying and nurturing innovative projects at their early stages.
“This partnership reflects our belief in DuckChain’s unique vision and its potential to simplify the transition to Web3 for developers and consumers,” Oak Grove Ventures said in a statement.
Driving Broader Adoption of Blockchain Technology
DuckChain’s TON-based EVM solutions and integration with Telegram are seen as pivotal to making blockchain technology more accessible and user-friendly. Oak Grove Ventures emphasized that DuckChain’s efforts to streamline the development of decentralized applications could play a key role in fostering broader blockchain adoption.
With strong backing from major investors, DuckChain is positioned to be a leader in the next wave of blockchain innovation, particularly in the Telegram ecosystem, further solidifying its role in shaping the Web3 era.
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