- Blum secured $5 million in funding to enhance its AI-driven, Telegram-based decentralized trading platform.
- The company is shifting from tap-to-earn to trade-to-earn, ensuring sustained user engagement and market growth.
- With multichain support, an expanding trading bot, and its Blum Memepad initiative, Blum aims to dominate the TON ecosystem.
Blum, a gamified decentralized exchange (DEX) operating through Telegram, has successfully raised $5 million in its latest funding round. The investment was led by gumi Cryptos Capital, with additional support from notable venture firms such as Spartan, No Limit Holdings, YZi Labs, and OKX Ventures. This funding is expected to accelerate Blum’s expansion and the development of its AI-driven trading platform.
Blum’s Vision for Blockchain and AI-Driven Trading
Since its official launch in July 2024, Blum has rapidly gained traction in the Web3 space. The platform boasts a Telegram community exceeding 32 million members, making it one of the largest in the cryptocurrency industry. With its innovative approach, Blum has recorded 2.2 million unique wallet activities, positioning itself as a major player in decentralized trading.
The company has transitioned from a “tap-to-earn” model to a more sustainable “trade-to-earn” strategy. This shift allows users to engage in decentralized trading while earning rewards, ensuring higher engagement and long-term user retention. The funding will be utilized to enhance trading functionalities, introduce multichain support, and expand its trading bot, which has already attracted over 1 million users.
Key Features and Future Plans
Blum aims to develop its Blum Memepad, a platform enabling the creation of meme coins within the same ecosystem. This initiative has already achieved significant success, ranking second globally in trading volume within The Open Network (TON) ecosystem. To date, Blum Memepad has facilitated over $200 million in trading volume, supported the creation of 200,000 tokens, and listed 380 coins on various decentralized exchanges.
Blum’s potential to dominate the TON ecosystem is one of the key reasons why investors are backing the project. Venture capitalists cited its high user activity, rapid adoption, and the ability to fill a critical gap in the decentralized exchange market as primary factors behind their investment.
Decline of Tap-to-Earn and Blum’s Adaptation Strategy
The cryptocurrency industry has witnessed a decline in tap-to-earn games, such as Hamster Kombat, Notcoin, and Catizen. According to Google Trends data, interest in tap-to-earn fell by 80% between June and December 2024. This downturn highlights the challenges of sustaining engagement solely through initial incentives like airdrops.
Blum has proactively adjusted its strategy by shifting focus to AI-driven trading solutions and user-centric trading experiences. By integrating AI and blockchain technology, Blum ensures that traders remain engaged, leveraging a variety of tools to enhance trading efficiency and profitability.
A Promising Future for Blum
The latest funding injection marks a critical milestone for Blum’s growth. The company’s co-founders, CEO Gleb Kostarev and CMO Vlad Smerkis, emphasized that the investment is not just about capital but also about securing strategic partners who can elevate the platform’s capabilities. Blum also secured funding from Binance Labs and The Open Platform (TOP), further strengthening its position within the crypto ecosystem.
With a strong backing of investors and a clear vision for AI-powered decentralized trading, Blum is well-positioned to revolutionize the trading experience within Telegram and beyond.
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