Crypto Quill

Telegram, the popular messaging app with over 800 million monthly active users, has announced the launch of a new advertising platform that will reward channel owners with toncoin, the native token of the TON blockchain. The Telegram Ad Platform, which will go live in March 2024, will allow channel owners to monetize their content by selling ads and sharing 50% of the revenue with Telegram.

Telegram’s Shift to Monetization

Telegram has been known for its privacy-focused and user-centric approach, which has made it a preferred choice for many crypto and Web3 enthusiasts. However, until now, the app did not have any official way of generating revenue from its massive user base. According to Telegram CEO Pavel Durov, broadcast channels on Telegram generate over one trillion views per month, but only a fraction of them are monetized.

The introduction of the Telegram Ad Platform aims to change this landscape, offering channel owners in nearly 100 countries the opportunity to earn from the content they create. The platform will use a bidding system to match advertisers with relevant channels, and will settle payments on the TON blockchain using toncoin. Channel owners will receive 50% of the ad revenue, while Telegram will keep the other half.

Durov said that this model will ensure that Telegram remains free and independent, while also providing a fair and transparent way of rewarding content creators. He also said that users will have the option to opt out of ads if they prefer an ad-free experience.

TON Blockchain’s Role in the Digital Economy

The decision to use toncoin as the currency for the Telegram Ad Platform not only boosts the token’s value, as evidenced by its 40% surge following the announcement, but also solidifies the TON blockchain’s position as a pivotal player in the digital economy. The TON blockchain, which was initially developed by Telegram but later handed over to a group of open-source developers after a legal battle with the US Securities and Exchange Commission, is a scalable and decentralized network that supports smart contracts, decentralized applications, and digital collectibles.

The TON blockchain has attracted significant investment from Web3 players looking to tap into Telegram’s huge user base and leverage its native blockchain and wallet technology. For example, Mirana Ventures, a Web3 investment firm, recently acquired $8 million worth of toncoin to support the development of products involving the TON Foundation, Bybit, and Mantle Network. Bybit, a cryptocurrency exchange, has also integrated toncoin into its platform, offering cashback and staking programs to its users. Mantle Network, an Ethereum layer 2 solution, has connected its MNT tokens to the TON blockchain, allowing its users to access gamified campaigns and advertising offerings within Telegram.

David Toh, the managing partner of Mirana Ventures, said that the TON blockchain is uniquely positioned to help accelerate mass adoption of Web3, as it is the native blockchain and wallet tech stack in Telegram, the centerpiece communications infrastructure of crypto and Web3. Steve Yun, the president of the TON Foundation, said that several industry players want to gain early mover advantage by allocating capital and tapping into the TON ecosystem and its embedded connection to Telegram.

The Future of Social Media and Blockchain

Telegram’s launch of the advertising platform using the TON blockchain reflects a growing trend of social media platforms embracing blockchain technology to offer more transparent, equitable, and user-centric monetization models. Blockchain technology can provide a way of verifying and rewarding content creation, as well as enabling peer-to-peer transactions and value exchange. Moreover, blockchain technology can also enhance the privacy and security of social media users, as well as their control over their own data and identity.

As more social media platforms adopt blockchain technology, the potential for innovation and disruption in the digital space is immense. Telegram’s move could inspire other platforms to follow suit, or even create new platforms that leverage the power of blockchain and crypto. The future of social media and blockchain is bright, and Telegram is leading the way.