Telegram's Mini Apps Emerge as Potential Avenue for Mass Blockchain Adoption
Summary:
Telegram's Mini Apps, launched in partnership with Tencent and the Open Network (TON) Foundation, might lead to widespread adoption of blockchain. According to Justin Hyun, TON Foundation's director of investments, these dApps act as an inconspicuous approach to introduce users to blockchain. The platform plans to onboard 500 million blockchain users by 2028 through simple use cases on these apps. This comes as Telegram introduces an ad platform that uses TON blockchain for payments. Also, TON has introduced a $115 million community incentive program.
Miniature decentralized apps (dApps) on Telegram, also known as Mini Apps, could serve as a covert vehicle to mainstream blockchain adoption, according to Justin Hyun, the director of investments at TON Foundation. He shared the organization's approach to educate people about blockchain through the use of these easy-to-use dApps seamlessly integrated into their Telegram experience.
Mini Apps on are a product of a partnership between Tencent, The Open Network (TON) Foundation, and Telegram, initiated in 2020. This open platform enables Web3 businesses to integrate their crypto-oriented apps within the messaging platform itself. The creation of this super-app-like platform was meant to incentivize crypto-friendly businesses.
Hyun believes that for blockchain to level up to the next 500 million user mark, it must offer elementary use cases where users don't necessarily perceive blockchain interaction. He added that introducing half a billion people to the blockchain by 2028 would require interactions with blockchain that users aren't aware of on the frontend.
Certain Mini Apps on Telegram will also provide financial inducements specific to Web3 to users, as Hyun has elaborated.
Telegram, which is the globe's third-largest messaging app in terms of monthly downloads, boasts over 800 million active monthly users globally, as per Statista.
On February 28, Telegram unveiled its ad platform, which will employ the TON blockchain to process payments. From now on, Telegram channel owners across over 100 countries can receive financial compensation for their contributions once the ad platform opens up to all advertisers. Channel owners will begin earning half of the total ad revenue Telegram makes from showcasing ads on their channels.
Furthermore, TON initiated a $115 million community incentive program on March 20. This will allocate $38 million for token mining and user rewards, $22 million for airdrops, $15 million for The League developer ecosystem, and $40 million to bolster liquidity pools.
Published At
3/29/2024 4:23:53 PM
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