Telegram Enables Gifting via TON Blockchain-Based NFTs

Telegram CEO Pavel Durov has announced plans to roll out NFT conversions on the platform. Telegram also launched its Gifts feature on October 5.

Azcnews Telegram Enables Gifting Via Ton Blockchain Based Nfts

The Gifts feature allows users to send personalized messages with animated images to congratulate friends. These animated images can appear on their profiles or be converted into an in-app currency called Stars.

According to Telegram, users can display gifts in the Gifts section of their profiles or convert them into Stars, an in-app currency. Launched on June 6, Stars allows Mini Apps on Telegram to accept payments for digital services and can be used to support content creators on the platform.

Telegram Enables NFT Conversions for Gifts

Telegram Enables Gifting via TON Blockchain-Based NFTs
Telegram Enables Gifting via TON Blockchain-Based NFTs

During the launch of the Gifts feature, CEO Pavel Durov revealed that some of the animated artworks will be able to be converted into NFTs. These limited-edition gifts are expected to be converted into NFTs on the TON blockchain later this year.

After conversion, the gifts will be available for auction and trading outside of Telegram, with ownership recorded on the blockchain. Additionally, the Telegram-based Web3 game Hamster Kombat will integrate NFTs as in-game assets in November 2024.

Telegram’s NFT support comes amid a decline in digital collectibles sales

While Telegram is moving toward supporting NFTs, the NFT market is currently experiencing a sharp decline in sales. In September, NFT revenue reached just $296 million, down 81% from its peak in March. The number of NFT transactions also dropped significantly, down 32% month-on-month, from 7.3 million transactions in August to 4.9 million in September.

(2 votes)

5.0/5

(2 votes)

Latest

How To Participate In The Nansen Airdrop

Airdrops | Editor Choice

How to Participate in the Nansen Airdrop

Join the airdrop hunt for Nansen, an on-chain project that has successfully raised over $88 million and is currently allowing users to earn points.

Iran Israel Conflict Escalates, Significantly Impacting The Crypto Market

Policy & Regulations | Editor Choice

Iran-Israel Conflict Escalates, Significantly Impacting the Crypto Market

The tensions in the Middle East between Israel and Iran are extremely high, impacting not only finances but also causing significant damage to the cryptocurrency market.

How To Participate In The Prismax Airdrop

Airdrops | Editor Choice

How to Participate in the PrismaX Airdrop

Join the airdrop hunt for the PrismaX project, which has successfully raised $11 million and is currently allowing users to earn points daily.

X Payment And Investment App Set To Launch By The End Of This Year

Policy & Regulations | Editor Choice

X’s Payment and Investment App Set to Launch by the End of This Year

According to confirmation from the CEO of X, the payment and investment services on the X social media platform are expected to launch by the end of this year, 2025.

Elon Musk’s Xai Faces Lawsuit Over Air Pollution

News | AI | Editor Choice

Elon Musk’s xAI Faces Lawsuit Over Air Pollution

Elon Musk’s AI company xAI is facing a lawsuit threat over its use of gas turbines at a Memphis data center, raising concerns about environmental racism and violations of the Clean Air Act.