PinGo Lab Completes Seed Round Investment to Accelerate Growth in the TON Ecosystem

October 10, 2024 – PinGo Lab, a rapidly emerging leader in decentralized infrastructure, has successfully completed its first seed round investment. The funding attracted contributions from prominent venture capital firms including CGV FOF, K24 Fund, Catcher VC, and Landscape Capital. This strong financial backing reflects the venture community’s confidence in PinGo’s innovative approach and potential to redefine the landscape within the TON ecosystem.

PinGo Lab has been gaining momentum with its recent developments, particularly the integration of mini app into its ecosystem attracting 200k+ users. With the highly anticipated DePin Gala event, PinGo showcases its leadership in combining blockchain-powered DePin solutions with forward-thinking Web3+ technology. 

PinGo: Transforming from Web2 to Web3

Originally a Cpin Web2 company,  PinGo has built a strong foundation with nearly 100,000 devices, which are set to be integrated into its own DePin Network in the future. These devices form the backbone of PinGo's unique decentralized infrastructure and will drive the next wave of its expansion.

PinGo's suite of products is designed to capitalize on this network growth. Among its key offerings are the "Pinger" CDN service, the Punny bot and a data analysis bot in development to help filter and classify broad traffic on Telegram. These tools cater to both Web2 and Web3 clients, ensuring that PinGo’s platform offers scalability and real-world utility.

A Sustainable Revenue Model

PinGo has built a robust revenue model that positions it for long-term sustainability. In its existing Web2 business, PinGo provides CDN services to major manufacturers, with each machine generating approximately $0.7 per day. This translates to a steady monthly revenue of around $2 million. Additionally, the modular network deployed on the TON blockchain will charge gas fees for various user activities, while service fees will be charged in PINGO for tasks launched through its Punny bot.

PinGo’s foray into AI-generated content (AIGC) and its expansion into NFTs further diversify its offerings. Users who hold these NFTs can unlock free Pinger computing power, adding another incentive for community engagement and growth.

Strong Metrics, Strong Community

The PinGo network boasts impressive engagement, with over 30,000 Daily Active Users (DAU) and more than 160,000 Monthly Active Users (MAU). Its community continues to grow, now surpassing 85,000 members, while the number of Punny bot holders has reached an impressive 200,000. This solid user base underscores PinGo's rapid adoption and strong market position within both the Web2 and Web3 spaces.

Looking Forward

The successful completion of the seed round, backed by five venture capital firms, is just the beginning of PinGo’s expansion strategy. The funds will be allocated towards further development of the PinGo ecosystem, including the launch of its proprietary DePin network. PinGo is committed to driving the next wave of decentralized innovation, combining cutting-edge technology with real-world utility.

As PinGo continues to expand and innovate, its upcoming DePin Gala event will serve as a platform to introduce new products, partnerships, and milestones. With a clear vision and solid backing from leading investors, PinGo is well on its way to becoming a dominant force in the decentralized technology space.

This post is commissioned by Foresight Ventures and does not serve as a testimonial or endorsement by The Block. This post is for informational purposes only and should not be relied upon as a basis for investment, tax, legal or other advice. You should conduct your own research and consult independent counsel and advisors on the matters discussed within this post. Past performance of any asset is not indicative of future results.