Blum Raises $5 Million for AI Trading and Web3 Advancements

Blum, a gamified Telegram-based decentralized change (DEX), raised $5 million. The funding spherical was led by gumi Cryptos Capital, which additionally included participation from outstanding enterprise funds like Spartan, No Limit Holdings, YZi Labs, OKX Ventures, and extra

Blum plans to allocate the funds towards growing its Telegram-based buying and selling platform.

Blum’s $5 Million Funding to Propel Blockchain and AI Trading

Blum’s fast progress trajectory has garnered consideration throughout the Web3 area. With its Telegram neighborhood surpassing 32 million members, it’s now thought of one of many largest communities within the crypto sector.

Since its official launch in July 2024, Blum has recorded notable achievements, together with the very best on-chain exercise with 2.2 million distinctive wallets. This quick adoption, coupled with the mission’s transition from a tap-to-earn mannequin to a trade-to-earn mannequin, positions it as a significant participant in decentralized buying and selling.

With $5 million funding secured, Blum intends to implement new options, together with multichain help and the growth of its buying and selling bot. The latter has already attracted greater than 1 million customers and has grow to be the biggest buying and selling bot in Telegram.

Additionally, the staff plans to additional develop its Blum Memepad platform, which is used to create meme cash inside the similar interface. This meme coin mission leads The Open Network (TON) and ranks second globally, with over $200 million in buying and selling quantity, 200,000 tokens created, and 380 cash listed on DEXs.

The traders highlighted a number of key facets of Blum that attracted their consideration:

High person exercise

Transition from the “tap-to-earn” mannequin to the “trade-to-earn” mannequin

Potential to grow to be the main platform inside the TON ecosystem, which at the moment lacks giant DEX

“This funding marks a significant milestone for Blum as it will fuel the development of our trading features. We are profoundly grateful to our partners and early supporters for their confidence in our vision. From day one, Blum has captured the attention of both investors and users. Our funding approach was not merely about securing capital; it was about carefully selecting partners whose expertise and resources can amplify the user experience”, mentioned Gleb Kostarev, CEO and Co-Founder of Blum.

Blum additionally acquired funding from The Open Platform (TOP) and Binance’s enterprise arm, Binance Labs.

Tap-to-Earn Decline and Blum’s Strategy to Retain User Interest

Telegram-based tap-to-earn crypto video games, comparable to Hamster Kombat, Notcoin, and Catizen, are experiencing a swift decline in customers. According to knowledge from Google Trends, curiosity in “tap-to-earn” dropped by 80% from June to December 2024.

This pattern in tap-to-earn tasks illustrates the challenges platforms face relying solely on preliminary person incentives like airdrops. Blum has tailored its mannequin. The mission has already shifted away from the tap-to-earn technique. Instead, it focuses on sustaining engagement via AI-powered buying and selling and options that preserve customers invested within the platform long-term.

“Our mission is to create the ultimate trading app, designed with traders and the community at its core. We’re taking a deliberate approach, rolling out features step by step to ensure they’re done right. From a powerful multichain trading bot to a AI-driven Memepad and futures trading, we’re building a platform that offers everything a trader needs and beyond. With strong backing from leading investors and players, we’re confident that this process will accelerate significantly”, mentioned Vlad Smerkis, CMO & Co-Founder of Blum.