Telegram's New Era: Blockchain Technology Adoption and Revenue-Sharing Plans Unveiled by Pavel Durov
Summary:
Pavel Durov, the founder of Open Network, has declared plans to further incorporate blockchain technology in the messaging app Telegram, at Token2049 event in Dubai. Contrary to traditional monetization methods, Durov stated that Telegram aims to share its ad revenue with its network/TON's content creators. The company is also planning to allow the tokenization of emojis and stickers via Tether. Overall, the adoption of blockchain technology is expected to bolster user privacy and freedom, and help the platform circumnavigate limitations on in-app purchases.
At the Token2049, Pavel Durov of the Open Network assured a diverse audience in Dubai about the potential of blockchain technology in shaping the future of the messaging app, Telegram. His central theme was how this revolutionary technology can be a tool for advocating freedom and privacy. He expressed the aim to enrich the features of the Open Network and hone Telegram's potential.
Durov reveled in the symbolism of their logo, a paper airplane, which perfectly encapsulates their values - the power of unbound movement in any direction. The firm, which boasts over 900 million monthly users, is keen on empowering its users to develop tools, businesses, and apps using Telegram. Relevant Report: Following the inception of Telegram’s Ad Platform, Web3 firms are taking keen interest in TON
Unlike most messaging and social media platforms that capitalise on user data, Durov shared that Telegram has adopted a more ethical alternative. Their monetization method involves sharing ad revenue with its content creators via its Ad Network. This unique approach has been termed as one of the most considerate revenue-sharing models in the realm of social media.
Further, as per Durov, creators will receive half of the revenue earned from ad displays and broadcast channels via the TON network. He is hopeful that this advertising market, powered by blockchain, could be worth a substantial number of billions and allow users to enjoy a sizeable share of the earnings.
The implementation of blockchain protocols would enable Telegram to overcome the limitations set by Apple and Google on in-app purchases. However, Telegram has managed to circumnavigate these issues by enabling developers and merchants to sell goods and services by aligning with 40 payment providers, including Stripe.
Durov also shed light on future projects, including the tokenization of stickers and emojis on Telegram using the TON blockchain. Tokenizing stickers is the next move we plan to make, he announced. He conveyed that Telegram has capitalized on Tokenization before, paving the way for it to become the first social platform to tokenize user namespace. This move led to generating sales worth $350 million.
In conclusion, Durov emphasized the necessity for Telegram to leverage the scalability that TON's network provides. This move is expected to enable processing of tens to hundreds of millions of transactions in the future. Following his speech, Tether declared the introduction of the USDT and Tether Gold (XAUT) tokens on the TON network. Magazine-script: Hip-hop stars endorse cryptocurrency with a "Get Bitcoin or perish trying" motto.
Published At
4/19/2024 5:06:37 PM
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