The Open Network (TON) and the messaging giant Telegram are aiming to bring a staggering 500 million users into the world of Web3 by 2028, according to a recent report by Bybit, the second-largest cryptocurrency exchange by trading volume. This ambitious collaboration seeks to leverage Telegram’s massive user base of nearly one billion to make decentralized applications (dApps) readily accessible within the messaging platform.
The report paints a picture of a potential game-changer in the Web3 landscape. TON, a blockchain network originally conceived by the Telegram team, is well-positioned to replicate the success of WeChat’s Mini Programs in China. These mini-apps have transformed the popular messaging platform into a one-stop shop for various services, from payments to social media interactions. Similarly, TON’s vision sees Telegram integrating dApps seamlessly with its messaging functionalities, potentially catapulting TON as the leading platform for widespread Web3 adoption.
Early signs are encouraging. Bybit highlights significant milestones already achieved, including 280,000 daily active users on the TON network and a daily transaction volume of 800,000. Interestingly, Toncoin, the native cryptocurrency of the TON network, has seen a remarkable rise of over 200% in 2024, propelling it to become the fifth-most valuable Layer-1 network with a market cap exceeding $17.5 billion.
But what’s the secret sauce behind this ambitious plan? TON’s strategy hinges on two key elements: the TON Space wallet and Telegram Mini-Apps. The TON Space wallet, a self-custody solution integrated within Telegram, allows users to manage their digital assets directly within the messaging app. This removes the barrier of needing a separate crypto wallet, making it easier for users unfamiliar with crypto to take their first steps.
Telegram Mini-Apps further enhance user engagement. These mini-applications, readily accessible within the Telegram interface, primarily focus on “Tap-to-Earn” games like Notcoin and Hamster Kombat. These games offer a fun and interactive way for users to discover crypto rewards, potentially sparking their interest in broader Web3 exploration. Additionally, the report highlights the growth of DeFi (Decentralized Finance) Mini-Apps, offering users options for trading and staking cryptocurrencies within the familiar Telegram environment.
By embedding Web3 capabilities into a widely used messaging platform, TON and Telegram are creating a unique opportunity to bridge the gap between traditional social media and the decentralized future. This collaboration has the potential to significantly increase mainstream adoption of digital assets and decentralized finance, ushering in a new era of financial inclusion and user control. However, it remains to be seen whether TON can maintain its momentum and replicate the success of WeChat’s Mini Programs. Regulatory hurdles and user education will continue to play a crucial role in realizing this ambitious vision.
This collaboration is undoubtedly a significant development in the Web3 space. As TON and Telegram continue to integrate their services, the coming years will reveal the true impact of this partnership on mainstream Web3 adoption.
