Telegram Messenger to Share 50% Ad Profits with Public Channels, Spurs Toncoin Value
Summary:
Telegram Messenger is set to share 50% of its ad revenue with the owners of public channels globally, provided they have at least 1,000 subscribers. The payouts will be made in Toncoin, the platform’s native digital currency. Following the announcement, the price of Toncoin has risen by 111%. To facilitate the initiative, Telegram has added Toncoin as a payment method for ads. The new profit-sharing scheme paves the way for channel owners to monetize their following beyond selling posts and products or charging membership fees.
Telegram Messenger, a popular instant messaging platform, has announced a new initiative that will allow public channel owners to share in the company's advertising profits. The arrangement, introduced on March 31, specifies that channels with a significant follower base will receive 50% of ad-derived revenue in the form of Toncoin (TON), the platform's native cyber currency. However, to qualify for this scheme, channels must have a minimum of 1,000 subscribers.
The genesis of this initiative was first made public by Pavel Durov, Telegram's founder and CEO, in February 2024 to create additional earning opportunities for channel proprietors. With this announcement, TON prices have seen a substantial uptick of 111%, moving from $2.51 on February 29 to $5.30 on April 1, as reported by Cointelegraph Markets Pro and TradingView.
Telegram channels rake in over 1 trillion views monthly, and the platform has now made arrangements for channel owners to withdraw their share of ad profits without any fees. As of now, Telegram is the third most popular messaging app with monthly downloads surpassed only by WhatsApp Messenger and Snapchat, as per data from Statista.
To promote the new policy, Telegram has integrated Toncoin as a payment option for purchasing advertisements on its platform. Nonetheless, the platform exclusively serves ads within Telegram channels, with the ad content being contingent on the type of content shared on the channel.
Before this revenue-generating scheme was made official, Telegram channel owners leveraged their followership through selling paid posts, membership fees for private channels, and product sales, among others.
In an interview with Cointelegraph on March 29, the Director of Investment at TON Foundation, Justin Hyun, posited that the blockchain-based mini-decentralized applications (DApps) facilitated on Telegram could be instrumental in promoting mainstream blockchain adoption. He aims to onboard 500 million customers by 2028 using blockchain applications that are user-friendly and do not necessarily require users to have a deep understanding of the underlying blockchain technology.
Published At
4/1/2024 1:34:38 PM
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