May 13, 2024
Telegram Transforms Social Media with Blockchain Tech
Dear Subscriber,
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| By Marija Matic |
There are tons of messaging apps out there. And, barring a few minor differences, most of them offer the same experience.
But you can forget being limited to just chatting with friends when it comes to Telegram.
That’s because it’s growing for a brand-new reason: It’s tapping into the crypto realm.
For years, social media platforms have dangled the idea of social coins, but none have truly delivered and become SocialFi giants.
That is, until Telegram launched its own blockchain and token, Toncoin (TON, “B-”).
Over 900 million monthly users on Telegram provided a strong enough platform for TON to be the first social coin to break through the noise. As such, it is on its way to achieving real traction and adoption.
It’s gained 23% over the past seven days, largely driven by the upcoming launch of a new memecoin called Notcoin (NOT, Not Yet Rated). Users will need to hold TON to claim the new coin since Notcoin operates on the Toncoin blockchain.
Consequently, there is a surge in demand for TON, driving TON prices higher.
Its steady price growth is a sign that users are buying into Telegram's innovative approach.
However, while the popularity of memecoins is no doubt in play at the moment, the bigger appeal of Telegram's associated cryptocurrency goes beyond meme-driven trends.
Rather, the draw is in how the platform prioritizes user experience and puts its users in control.
Telegram’s User and Crypto-Friendly Ethos
There are two big features Telegram offers that set it apart from other messaging apps for users.
First up is privacy. Telegram prioritizes privacy, with features like disappearing messages and usernames instead of phone numbers. Users can even create secret chats that can't be screenshotted, giving one control over the conversations.
Second is customization. By increasing how personalized users can make their accounts, groups and channels, Telegram becomes a one-stop shop for everything online.
Want to create content and share it with the world? Done.
Feeling curious? Chatbots can answer your questions, give you weather updates, allow you to trade or even help you with customer support — all without ever leaving the app.
Telegram even lets users create their own chatbots and mini-apps to personalize their experience exactly how they like it.
This is the true power of customization, catering to those who crave a finely tuned social space.
Considering both privacy and individuality are both highly valued in the crypto community, it's no surprise that crypto enthusiasts are flocking to the Telegram. Its approach is a perfect fit for younger generations who value decentralization and having control over their own data and needs.
And with the integration of the Toncoin blockchain, Telegram is only getting started.
Recently, it added a new feature allowing users to purchase ad space using TON and keep 50% of the ad revenue generated from their channels, which collectively boast over a trillion views monthly.
This revenue-sharing model is a game-changer, offering creators a tangible way to benefit from the platform's success.
And it stands in stark contrast to other major messenger apps and even social media platforms, which are still struggling with monetization, let alone crypto integration.
And even ones that are working on some complex types of monetization … are still reluctant to properly share that ad revenue with the content creators generating it.
The centralization and extreme control exerted by existing social media platforms is exactly why my colleague Jurica Dujmovic claimed that it could be the next big TradFi sector to be disrupted by crypto ideology and technology.
By utilizing its position as a major messenger platform while adapting to crypto ideology, Telegram has brilliantly set itself apart from both traditional platforms and crypto-based social media to be the best of both worlds.
More to Come
Telegram's explosive expansion into memecoins with NOT — which has already made its mark by becoming the largest web3 game in the world with 36 million players — is only the beginning.
It also established a collaboration with Tether (USDT), a popular stablecoin pegged 1-to-1 to the U.S. dollar.
Offering USDT on the TONblockchain further expands the ecosystem and allows for free, instant and easy cross-border payments within chats.
Due to high demand, USDT on Toncoin has already reached $200 million in circulation, in less than a month after launch.
In case you were wondering, that is a new record as the fastest growing launch in the history of Tether.
Additionally, promising decentralized applications are being built on the TON network, such as W3BFLIX — a streaming service and film crowdfunding platform with aims of being the Netflix of Telegram.
So, if one is looking for an engaging platform that respects privacy, lets them customize their experience, and is embracing the future of crypto, then Telegram might just be their new favorite app.
And while Telegram isn’t publicly traded, you could get a piece of Telegram’s success and continued growth through the TON token, which powers its blockchain endeavor.
As this ecosystem flourishes, Toncoin is well-positioned to become a permanent major player in the altcoin market.
Savvy investors may want to consider keeping this project on their radar.
Best,
Marija Matić
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