Telegram now lets users send cryptocurrency through TON blockchain spinoff as its ‘Premium’ subscription is showing up in beta builds of the app
IT News Nigeria:
Latest information has revealed that Telegram now lets users send Toncoin, the cryptocurrency built off of Telegram’s abandoned blockchain effort, directly from chats within the messaging app.
Recalled, in 2020, Telegram shut down its own cryptocurrency operation after facing pressure from the Securities and Exchange Commission (SEC).
However, even after Telegram abandoned the TON project, a group of developers kept it afloat, renaming it The Open Network and rebranding Gram as Toncoin.
It is now clear that TON is still years ahead of everything else in the blockchain realm.” Earlier this month, the TON Foundation managed to raise $1 billion in donations.
Furthermore, Telegram ‘Premium’ subscription is showing up in beta builds of the app.
IT News gathered that Telegram’s approach to paid features appears to follow the Discord model of messaging app monetization, giving to the users more power and toys to play with: more emoji, better bandwidth for video and audio, improved badges and avatars, and more.
According to reports, with more than 500 million users on the platform, Telegram might only need to convince a small percentage to subscribe in order to become the break-even business.