Blum, a Gameified Telegram-based decentralized exchange (DEX), has raised $5 million. The investment round was led by Gumi Cryptos Capital. This includes participation from well-known venture funds such as Spartan, No Limit Holdings, Yzi Labs and Okx Ventures.
Blum plans to allocate funds for the development of a telegram-based trading platform.
Blum’s $5 million funding to drive blockchain and AI trading
Blum’s rapid growth trajectory has attracted attention throughout the Web3 space. The Telegram community has over 32 million members and is currently considered one of the largest communities in the crypto sector.
Since its official launch in July 2024, Blum has recorded notable achievements, including the best on-chain activities with 2.2 million unique wallets. This rapid adoption, coupled with the project’s transition from a tap-to-areen model to a trade-to-trade model, has positioned itself as a major player in decentralized trading.
With $5 million in funding set aside, Blum plans to implement new features, including multi-chine support and expanding its trading bots. The latter has already attracted over a million users and has become the largest trading bot on telegrams.
Additionally, the team plans to develop further Blum Memepad platforms, which will be used to create meme coins within the same interface. This memecoin project leads the Open Network (TON) and ranks second globally, with over $200 million trading volume, tokens with 200,000 tokens created and 380 coins listed in DEXS Masu.
Investors highlighted some important aspects of Blum that attract their attention:
The migration of high-level user activity from the “TAP-to-earn” model to the “Trade-to-earn” model could become a major platform within the TON ecosystem, where there is currently a lack of large DEXs
“This funding is an important milestone for Blum as it encourages the development of trading functions. We are deeply grateful to our partners and early supporters who gave us their confidence in our vision. From day one, Blum has been attracting attention from both investors and users. Our fundraising approach wasn’t just about securing capital. Gleb Kostarev, CEO and co-founder of Blum states:
Blum also received funding from Open Platform (Top) and Binance Labs, a venture arm of Binance.
The decline of tap-to-alene and Blum’s strategy to maintain user interest
Telegram-based tap-to-alene crypto games, such as Hamster Combat, Knotcoin, and Katizen, have experienced a rapid decline in users. According to Google Trends data, interest in “Tap-to-earn” fell 80% from June to December 2024.
This trend in the Tap-to-Arene project illustrates the challenges faced by platforms that rely solely on initial user incentives such as airdrops. Blum adapted the model. The project is already moving away from the tap-to-year strategy. Instead, it focuses on maintaining engagement through AI-powered trading and features that keep users investing in the platform for a long time.
“Our mission is to create the ultimate trading app, designed by traders and communities at the heart of it. We have taken a deliberate approach, and we can develop the features in stages and create them. We are making sure that it is done right. We are building a platform that provides everything traders need, from powerful multi-chine trading bots to AI-driven meme pads and futures trading. Vlad, the CMO & co-founder of Blum Smerkis said:
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