Telegram's Web3 Games: The Next Big Crypto Coin?

Telegram has become a powerhouse in the crypto space as it rolls out Web3 games, reaching a staggering 950 million users. This isn't just a flash in the pan; it's a strategic move that could reshape the crypto landscape.

Rise of 'Notcoin'

The introduction of 'Notcoin' is a game changer, no pun intended. Launched at the beginning of 2024, it was primarily driven by a massive token AirDrop. Imagine getting $1 billion worth of tokens – 80 billion NOT tokens to be precise. No wonder users are flocking to Telegram's gaming section.

But don't let the success of 'Notcoin' blind you. Soon after, games like 'Hamster Kombat,' 'Yescoin,' and 'Catizen' were released, but they didn't quite hit the same mark. Still, the TON Blockchain has seen user accounts grow from 4 million to 128 million in one year. Toncoin's market cap also saw a massive uptick, reaching $14 billion.

• Now, 20% of Telegram’s user base is actively gaming in the app.
• 950 million users strong.
• 'Notcoin' drove a $1 billion AirDrop, distributing 80 billion tokens.
• TON accounts skyrocketed from 4 million to 128 million in a year.
• Toncoin’s market cap reached $14 billion.

The fact that crypto fiends can simply create wallets while playing on Telegram has turned this into a much larger Web3 ecosystem.

Financial Backing

Telegram's move into profitability in 2024 with $1 billion in revenue shows that it knows what it's doing. This revenue is not just from games, but also from in-app purchases, token trades, and advertising.

With over 950 million monthly active users, the platform is a goldmine for Web3 games. 21% of the Web3 games launched in 2024 chose Telegram as their home base.

Tech Advantage

Using its own blockchain, TON, allows for fast, low-cost transactions. The integration of TON and Telegram has been key, allowing users to migrate to the TON network with ease.

But let's not kid ourselves. With great growth comes great challenges.

Risky Business

While the initial growth is impressive, it's worth wondering about the sustainability. Will these games stand the test of time? Look at Axie Infinity and the pitfalls it faced. Plus, Telegram has debt and competitive pressures to juggle.

Participating in AirDrops comes with its own set of risks: scams, spam attacks, and privacy concerns are just the tip of the iceberg.

As Web3 gaming evolves, so do the risks. For instance, the potential for scams and phishing attacks looms large. Many airdrops are fraudulent. Relying on airdrops can dilute the value of existing tokens. There are also regulatory and tax implications to consider.

Looking Ahead

But the initial response to Telegram's Web3 games is undeniably strong. If it can navigate the pitfalls, Telegram could not just ride the next big crypto coin wave, but create one.