Telegram-based Blum Secures $5 Million for AI-Powered Trading Innovations | News
Summary
The investment round was led by gumi Cryptos Capital, which also included participation from prominent venture funds like Spartan, No Limit Holdings, YZi Labs, OKX Ventures, and moreBlum plans to allocate the funds toward developing its Telegram-based trading platform.Blums rapid growth trajectory has garnered attention across the Web3 space. The latter has already attracted more than 1 million users and has become the largest trading bot in Telegram.Additionally, the team plans to further develop its Blum Memepad platform, which is used to create meme coins within the same interface. This meme coin project leads The Open Network (TON) and ranks second globally, with over $200 million in trading volume, 200,000 tokens created, and 380 coins listed on DEXs.The investors highlighted several key aspects of Blum that attracted their attention: Transition from the tap-to-earn model to the trade-to-earn model Potential to become the leading platform within the TON ecosystem, which currently lacks large DEXThis funding marks a significant milestone for Blum as it will fuel the development of our trading features. Our funding approach was not merely about securing capital; it was about carefully selecting partners whose expertise and resources can amplify the user experience, said Gleb Kostarev, CEO and Co-Founder of Blum.Blum also received funding from The Open Platform (TOP) and Binances venture arm, Binance Labs.Telegram-based tap-to-earn crypto games, such as Hamster Kombat, Notcoin, and Catizen, are experiencing a swift decline in users. With strong backing from leading investors and players, were confident that this process will accelerate significantly, said Vlad Smerkis, CMO Co-Founder of Blum.