Telegram's Transformation in the Crypto Landscape

CEO Pavel Durov recently announced plans to launch a mini app store and an in-app browser with support for web3 games, aiming to enhance the web3 experience for Telegram's 900 million users.

Key Highlights:

Blockchain Integration:

- Telegram and The Open Network (TON) blockchain are leading this shift.

Gaming Impact:

- Tap-to-earn games like Notcoin, Yescoin, and Hamster Kombat are gaining traction. Notcoin alone helped TON onboard over 1 million wallets².

Growth Metrics:

- TON's Total Value Locked (TVL) surged from $300 million in May to over $760 million today.

- Toncoin's price tripled this year, rising from $2.30 to over $7.00².

Why This Matters:

Telegram's initiative could make 2024 a landmark year for blockchain adoption. As Durov stated, "2024 will go down in history as the year when hundreds of millions of people became familiar with blockchain"³.

Challenges and Opportunities:

- Addressing challenges like combating scams with measures such as displaying account registration dates and principal countries.

- Allowing organizations to issue labels for channels, creating a decentralized marketplace for verification².

What's Next?

With the $500 billion annual gaming market ripe for disruption, Telegram's integration of blockchain and web3 could be a game-changer.