Telegram is launching a Web3-enabled mini app store and in-app browser later this month, highlighting 2024 as a pivotal year for blockchain adoption.
Telegram Mini App Launch & Web3 Integration Impact
Telegram, the widely used messaging application boasting around 900 million users globally, is poised to make a substantial foray into the Web3 realm. Pavel Durov, the CEO, has declared intentions to introduce a tiny app store with Web3 capabilities and an in-app browser that will support Web3 pages before the end of this month.
This move comes as they continue to strengthen its position in the cryptocurrency ecosystem. The platform has already seen success with blockchain-based initiatives, particularly tap-to-earn games utilizing the TON blockchain. These games have attracted tens of millions of users, with the Notcoin game alone helping to onboard over 1 million wallets to the TON network during its token generation event.
Durov emphasized the importance of 2024 for blockchain adoption, stating, “2024 will go down in history as the year when hundreds of millions of people became familiar with blockchain. We’re proud that Telegram is at the epicenter of this societal transformation.”
In addition to expanding its Web3 capabilities, they plan to enhance security measures. The app will soon display registration dates and principal countries for public accounts, similar to Instagram. Furthermore, they plan to allow organizations to issue labels for channels through their mini apps, creating a decentralized marketplace for third-party verification.
TON Blockchain Growth and Ecosystem Development
The TON blockchain has experienced substantial growth recently. Its Total Value Locked (TVL) has more than doubled since May, surpassing $760 million. The network’s native token, Toncoin, has also seen impressive price appreciation, more than tripling in value since the beginning of the year.
To further develop its ecosystem, the TON Foundation has launched a startup accelerator program called “Triangle.” This initiative, in partnership with Sign and 1inch, aims to foster growth within the Telegram and TON crypto ecosystem. The program brings together key players in the blockchain space, including the popular game Notcoin, demonstrating a concerted effort to expand and strengthen the TON network’s presence in the broader crypto landscape.
