In a groundbreaking move, Telegram has introduced a crypto wallet leveraging the TON blockchain’s infrastructure, a development that stands to benefit its 800 million-strong user base. The announcement came during the Token2029 conference, a notable event in the crypto space.
A Milestone in Telegram’s Journey
After nearly three years of anticipation following the revelation of plans to venture into the Web3 ecosystem, the team behind Telegram and the TON blockchain has broken their silence. This initiative marks a significant milestone in Telegram’s journey, showcasing the messaging app’s commitment to evolving and embracing the potential of blockchain technology.
TON Blockchain: Enhancing Telegram
The TON blockchain, a creation of the Telegram team, is fundamentally designed to augment the Telegram platform. Previously, in December 2022, the team utilized TON for username sales, a move that underscored the blockchain’s potential in enhancing user experience on Telegram.
Furthermore, the TON team has expressed a preference for projects developed atop the TON blockchain when it comes to advertising on Telegram Ads, indicating a symbiotic relationship between the blockchain and the messaging platform.
Wallet Launch: What to Expect
Currently, the wallet is accessible exclusively within the Telegram settings, not as a standalone application. However, users can look forward to a global rollout slated for November, albeit with exceptions including the USA and a few other countries.
During the announcement at the Token2029 conference, attendees who scanned a specific code were treated to an airdrop of TON tokens, a gesture that facilitated a firsthand experience of the newly minted wallet in the Telegram application.
Market Response and Future Prospects
The market responded favorably to the announcement, with the TON blockchain’s native token witnessing an over 11% surge in value within 24 hours, reaching a trading price of $1.94, as per data from Coinmarketcap.
As Telegram takes a decisive step into the future, integrating blockchain technology into its offerings, users can anticipate a seamless and enriched experience. The integration heralds an era of expansive possibilities, setting the stage for a future where technology meets convenience, all within the familiar setting of Telegram.