Telegram now lets you use cryptocurrency called Toncoin (TON) to buy ads. They picked Toncoin because it’s cheap and fast. You can promote your bot or channel with just a few Toncoins.
You get to pick which channels your ad shows up in, giving you full control. This is part of Telegram’s plan to share ad revenue, which they talked about in February.
Telegram’s Fair Reward System
With its recent announcement, Telegram has distinguished itself among social media platforms by introducing a fair reward system. Channel owners on Telegram will now receive a 50% share of the total revenue generated.
To qualify for this reward, channel owners must have at least 1000 subscribers. They will then receive half of the revenue generated from ads displayed on their channel. Notably, there are no hidden withdrawal charges or fees associated with accessing these rewards.
Users have the freedom to utilize their rewards as they see fit. They can directly access their earnings or choose to reinvest them in other Telegram features, such as running ads, acquiring collectible usernames, or participating in premium giveaways.
This move comes at a time when Telegram’s popularity is on the rise, particularly due to its involvement with the crypto industry. With channels receiving over 1 trillion views monthly, implementing such a reward system not only enhances the platform’s image but also incentivizes content creators and channel owners.
Toncoin: Telegram’s Cryptocurrency Journey
Toncoin, initially known as Telegram Open Network (TON), originated as a project within Telegram during its early days. However, due to a dispute with the SEC and regulatory concerns, Telegram distanced itself from the token. Consequently, a non-commercial group took over the project, leading to the renaming of the token as ‘The Open Network,’ with its native cryptocurrency being Toncoin (TON).
Toncoin’s fortunes have often been intertwined with developments on the Telegram messaging app. Any significant update or announcement from Telegram tends to cause fluctuations in the price of Toncoin.
Following the announcement on March 31st, Toncoin experienced a surge in price, reaching a high of $5.49 after a 7% increase. Over the past month, Toncoin has seen remarkable growth, rising by almost 90% and closing at $5.28. However, at the time of writing, the price has dipped by 4% from yesterday to $5.08.
Toncoin currently holds the 11th position in terms of market capitalization, with a value of $17,637,479,717. Although there has been a decline in market cap from yesterday, the trading volume has increased by 12%, reaching $240,554,849. With this momentum, Toncoin is only 13% away from its all-time high, suggesting the possibility of reaching that milestone soon if the trend continues.
Telegram founder Pavel Durov has emphasized the importance of fast and secure transactions for ad payments and withdrawals, citing Toncoin as their preferred choice. By leveraging the TON blockchain for ad payments and revenue sharing with channel owners, Telegram aims to create a virtuous cycle where content creators can either cash out their Toncoins or reinvest them in channel promotion and upgrades.
In Summary
Telegram has picked Toncoin for its payment and withdrawal services, as well as distributing 50% rewards to channels. After this announcement, the token saw a surge to its highest point in a week, aiming to reach its all-time high value of $5.84.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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