Telegram, the popular messaging app, is experiencing a meteoric rise in user base, with its founder, Pavel Durov, announcing a staggering 950 million active users and aiming to breach the billion mark within the year.
This represents a significant increase from the 900 million reported just months ago. Durov attributes much of this growth to the surging popularity of games built on the Telegram-backed blockchain, The Open Network (TON).
At the heart of Telegram's user explosion is the phenomenon of "tap-to-earn" games.
These simple yet addictive games, such as Notcoin and Hamster Kombat, reward players with in-game currency for minimal effort.
The allure of potentially converting these virtual coins into real cryptocurrency has captivated millions.
Notcoin, in particular, was a watershed moment, attracting over a million new wallets to the TON network during its token generation event.
Hamster Kombat, another sensation, boasts an even larger player base, surpassing 250 million users.
This game's popularity has even drawn the attention of governments, with Iran expressing concerns about its potential to distract voters.
The success of these games has spurred a wave of copycats, with new crypto games emerging on Telegram regularly.
Many of these new entrants are planning to launch their own cryptocurrencies on the TON blockchain, further expanding the ecosystem.
Capitalising on its growing user base and the success of blockchain-based games, Telegram is making a decisive push into the Web3 space.
The platform is set to launch a dedicated mini app store and an in-app browser with full Web3 support later this month.
This strategic move positions Telegram as a central hub for Web3 applications and services, accessible directly within the familiar messaging interface.
Durov envisions 2024 as a pivotal year for blockchain adoption, with hundreds of millions of people gaining exposure to this technology.
Telegram aims to be at the forefront of this transformation by providing a user-friendly onramp to the decentralised world.
To bolster trust and transparency, Telegram is introducing measures to combat scams.
The platform will soon display registration dates and originating countries for public accounts, similar to Instagram.
Additionally, a decentralised marketplace for third-party verification will be established, allowing organisations to issue labels for channels through their mini apps.
The Open Network (TON) blockchain, the backbone of Telegram's Web3 initiatives, has experienced remarkable growth.
Its total value locked (TVL) has more than doubled in recent months, surpassing $760 million.
The native token, Toncoin, has also seen a dramatic price increase, tripling in value since the beginning of the year.
To foster innovation and growth within the TON ecosystem, the TON Foundation has launched the "Triangle" startup accelerator program.
This collaborative effort with Sign and 1inch aims to provide support and resources to promising projects.
The inclusion of popular games like Notcoin as part of this initiative reflects the commitment to building a robust and thriving TON ecosystem.
With its expanding user base, strategic foray into Web3, and the burgeoning TON blockchain, Telegram is well-positioned to become a major player in the decentralised future and Web3’s Wechat.
Telegram's explosive growth and ambitious Web3 integration paint a picture of a potential challenger to WhatsApp's messaging throne.
WhatsApp currently leads with around 2 billion users, far surpassing its nearest competitor, WeChat.
However, Telegram's seamless Web2 and Web3 fusion, fueled by the TON ecosystem's success, could spark a significant user base shift.
We've seen similar dominance in regional markets like WeChat in China.
Could Telegram replicate WeChat’s dominance in China on a global scale?
With its aggressive expansion and integration strategies, Telegram might not just catch up but potentially surpass WhatsApp, heralding a new era in digital communication.
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