Telegram and TON Blockchain are Ahead of Elon Musk, Creating the West’s Web3 ‘WeChat’

Telegram, the hugely popular messaging app with 900 million users, is making waves in the cryptocurrency world. The key? Integrating Tether (USDT), the world's third-largest crypto, directly onto its TON blockchain that was once a controversial project forced to operate independently. This move has the potential to revolutionise how people use TON and send money globally.

USDT Finds a New Home: Why TON Matters

For TON, this partnership is a major win. By hosting Tether's massive $109 billion market cap stablecoin, TON gains instant credibility and a significant user base.

Tether, known for its stability pegged to the US dollar, has traditionally relied on the Tron blockchain. However, TON's growing popularity and user-friendly features like its wallet have attracted the attention.

This partnership comes on top of TON's recent successes, including a new digital identity partnership and integration with Telegram's ad platform, further solidifying TON's position in the blockchain space. It was first announced at Dubai’s Token 2049 with the presence of Tether, Telegram and The Open Platform CEOs – Paolo Ardoino, Pavel Durov and Andrew Rogozov.

Tether CEO Paolo Ardoino believes this paves the way for,

"the first real power app that can both serve as a communication system and a bank account."

Founding member of TON blockchain, Andrew Rogozov, shared the excitement on his X account, featuring a photo of himself (left), CEO of Telegram – Pavel Durov (middle) and CEO of Tether – Paolo Ardoino (right) at Dubai's Token 2049. (Source: X.com @rogozov)

Telegram's Global Reach: A Perfect Match for Tether

Telegram's dominance in regions like India, Russia, and Brazil, where local currencies can be volatile, makes it an ideal platform for Tether. Unlike USDC, another popular stablecoin, Tether enjoys strong real-world adoption, offering a stable alternative for everyday transactions.

Will TRON Fade Away? The Future of Tether's Blockchain Choice

This move raises questions about TRON, the blockchain that currently holds nearly half of all Tether tokens. TRON relies heavily on Tether, with 99% of its transactions involving USDT. Rumours of a Tether exodus from TRON are swirling, fueled by TRON's association with fraud and money laundering in certain regions. Additionally, Circle's USDC recently left TRON citing security concerns. Tether's ambiguous response about its commitment to TRON only adds to the speculation.

Tokenised Stickers and Emojis as NFTs

Other than integration of Tether, Telegram plans to tokenise features on the TON network, with tokenised stickers and emojis being the first implementation. This initiative leverages TON's scalability to handle the potential surge in transactions as more features become tokenised. Durov highlights the success of Telegram's namespace tokenisation, generating $350 million, and believes tokenised stickers and emojis will be the next step.

Monetisation Shift: Sharing Ad Revenue with Users

Telegram's approach to monetisation differs from traditional social media platforms. Instead of selling user data, Telegram will share 50% of ad revenue with content creators and channel owners through TON. Durov estimates the blockchain-based advertising market to be worth tens of billions, with Telegram users benefiting directly.

From Telegram's Offspring to Independent Powerhouse: TON's Journey

TON's story is an interesting one. Originally called Telegram Open Network, it was created by Telegram in 2017. However, a legal battle with the SEC forced Telegram to abandon the project. The dedicated Telegram community stepped in, rebranded it as TON, and ensured its independent development. This "independent" blockchain is now being embraced by Telegram itself, showcasing its potential as a major player in the crypto space.

Notcoin Token Launch Delayed, But It's Not All Bad News for Players

Fans of the popular Telegram game Notcoin were disappointed last week when the project announced a delay in their token launch. Originally planned to coincide with the Bitcoin halving around 20 April, the NOT token was later confirmed that it would no longer be dropping on The Open Network (TON) on that date.

Andrew Rogozov shared about Notcoin during Dubai’s Token 2049. (Source: X.com @thenotcoin)

There's a silver lining, however. A Notcoin representative assured that this is just a "slight delay" while the team finalises everything. This means players won't have to wait much longer to get their hands on the tokens.

Huge Success for Notcoin: Over 35 Million Players Give It a Spin

Notcoin has taken the gaming world by storm, attracting over 35 million players to its clicker game. The simple yet addictive gameplay involves tapping an image of a coin to earn in-game currency.

On 1 April, the "mining phase" of the game concluded. In-game coins were originally expected to be converted into NOT tokens at this point. However, with the token launch delayed, the game will return with a new incentive structure once the minting process is complete.

Toncoin's Price Explodes 17%

Toncoin, the native token of TON, has seen a significant 17% price increase since the groundbreaking announcements.

Toncoin's price surged to $8.02 on Friday, rebounding from a sharp decline following its ATH of $8.79 on 11 April. Dropping to $5.42 on 13 April, the recent bullish momentum has lifted it to $6.20. With a potential breakthrough of the $7.70 resistance, Toncoin eyes surpassing $8, setting the stage for a new ATH and an optimistic trajectory.

Could Telegram Be the WeChat of the West?

The integration of Tether with TON on Telegram has the potential to be a game-changer for both platforms. TON gains legitimacy and a user base, while Telegram users gain access to a stablecoin for global payments and potentially new features like tipping and in-game economies. This integration, alongside Telegram's existing features and focus on user privacy, positions it remarkably similar to the Chinese super-app WeChat, which integrates messaging, social media, and mobile payments.

While WeChat's dominance is largely restricted to China, Elon Musk has openly discussed his desire for X, another messaging app he partly owns, to become a "WeChat for the West." Telegram, with its wider global reach and established user base, could be well-positioned to take that crown. The success of this integration, and Telegram's future adoption of Web3 features, will be key factors to watch. If Telegram can navigate regulatory hurdles and effectively leverage its user base, it has the potential to become a major player in the global Web3 landscape.