Telegram is on the verge of a huge achievement; with Pavel Durov, the founder announcing that the platform is nearing 1 billion active users this year, having recently reached 950 million.
The platform is also introducing an app store and an in-app browser with support for web3 pages, expected to launch this month.
The messaging platform has a long-standing interest in cryptocurrency and blockchain technologies. Although its initial coin offering failed in 2018, Telegram has not given up in the space, interestingly auctioning usernames on the TON blockchain since December 2022.
The platform has focused on enabling developers to create mini-apps and games that use cryptocurrency for transactions and has recently started sharing advertising revenue with channel owners through the distribution of toncoin, a token on the TON blockchain.
Telegram has also introduced a feature allowing channel owners to convert stars to toncoin for discounted advertising or cryptocurrency trading.
Despite these advances, Telegram has faced challenges with scams and fraudulent schemes targeting its users, particularly involving toncoin theft.
To tackle this, the company is implementing measures such as displaying the registration month and primary country for public accounts.
Durov has outlined plans for a decentralised verification marketplace, allowing organisations to issue labels for channels using their mini-apps.
The surge in user numbers is attributed to the growing interest in games on Telegram, particularly those linked to the TON blockchain.
This includes the rapid success of games like Notcoin and Hamster Kombat, which have attracted millions of players with their innovative play-to-earn models.
Notcoin, for instance, enabled players to convert virtual earnings into NOT tokens on the TON blockchain, supported by exchanges like Binance and OKX. This success has helped push the TON blockchain to a market cap of $17 billion, making it one of the top ten cryptocurrencies globally.
Hamster Kombat has been a unique success, amassing over 250 million users by offering engaging gameplay and the promise of future token launches on the TON network.
Other games such as Yescoin, TapSwap, and PixelTap have also emerged, with some collaborating to offer mutual benefits for token holders.
Telegram’s reintegration of the TON network since 2020 has facilitated various initiatives, including sharing ad revenue with channel owners.
