Exploring The Partnership Between TON and Telegram
A Bold Goal: 500 Million Blockchain Users by 2028
- The partnership, initiated in September 2023, aims to convert 30% of Telegram’s active user base into blockchain adopters by 2028.
- Telegram Mini Apps play a crucial role in bridging Telegram’s web2 audience with TON’s web3 ecosystem.
- By July 2024, Mini Apps had already accumulated 500 million Monthly Active Users (MAUs).
The Playbook: From Games to Tokens to DeFi
- Start with Tap-to-Earn Games like Notcoin, Hamster Kombat, and Catizen to attract users.
- Convert Gamers into Crypto Owners by offering in-game points exchangeable for on-chain tokens.
- Keep Users Engaged with DeFi tools such as staking and token rewards.
Explosive Growth for TON Blockchain
- Witnessed a significant increase in wallet activations from 0.8 million in September 2023 to 32 million by October 2024.
- Experienced a surge in monthly transactions to 220 million in October 2024, dominated by Toncoin transactions.
- Total Value Locked (TVL) reached $726 million by October 2024, fueled by DEXs and liquid staking protocols.
Telegram’s Win: Profits and User Engagement
- Premium Account subscriptions doubled from 5 million in January 2024 to 10 million by September.
- Revenue is on track to hit $1 billion in 2024, driven by premium accounts, collectibles, and Toncoin-powered ads.
- New features like Telegram Stars and USDT on TON enhance user engagement within the app.
Challenges Ahead
- Retention rates post-onboarding remain a concern, with even top projects struggling to retain users beyond 60%.
- Aiming for 500 million users requires a substantial increase from the current 30 million activated wallets.
What’s Next?
- Part 3 of Animoca Brand’s report will delve into TON’s governance structure and future strategies.
- As the partnership between TON and Telegram progresses towards their 2028 goals, they are laying the foundation for potential global blockchain adoption.
