Analysis: The rise of Telegram ecosystem games this year has driven the number of accounts on the TON network from about 4 million to 128 million

Chain games have not entered the mainstream on a large scale in 2024, but they have made great progress in terms of gameplay and user acquisition. Joonmo Kwon, a veteran gaming executive and CEO of Delabs Games, said: “The Web3 gaming world has made significant progress since the rise and subsequent fall of ‘Axie Infinity,’ while Axie’s early success demonstrated the potential of a blockchain-based economy. , but its decline also reveals difficulties in sustainable token economics and user retention.” The biggest development in Web3 gaming is the emergence of the Telegram ecosystem, an application used by nearly 1 billion people. Telegram-based games use the TON blockchain. In the space of a year, the number of accounts on the TON network grew from about 4 million to 128 million, according to TonStat. By the middle of this year, the GameFi market had reached a valuation of about $17 billion, largely due to the rise of the Telegram gaming ecosystem, according to Kwon. However, despite rising adoption of Web3 games in 2024, The Block's GMCI Gaming Index shows that major gaming-related tokens are down about 7% year-to-date as of December 18. The index includes major gaming tokens such as BEAM, GALA, and IMX, but excludes TON (which is up more than 100% this year).