Telegram has introduced a new feature called “Gifts,” allowing users to send animated images as virtual presents to one another. These gifts, beyond acting as tokens of gratitude, can also be displayed on recipients’ profiles or traded for Stars, the platform’s in-app currency. This innovative feature sets itself apart by opening up the possibility of transforming these digital tokens into collectible assets.
The CEO of Telegram, Pavel Durov, has announced that users will soon have the ability to convert their limited-edition gifts into non-fungible tokens (NFTs) on the TON blockchain. This conversion feature is expected to be available later this year, underscoring Telegram’s efforts to integrate blockchain technology into its ecosystem. By offering this NFT functionality, Telegram positions itself within the growing trend of merging digital collectibles with blockchain-backed assets.
Gifts Feature Expands Telegram’s Economy with NFT Potential
Launched on October 5, the new Gifts feature has sparked significant interest among users, particularly due to its potential for both collectability and monetization. According to reports from CNF, Telegram’s in-app economy, which was already enhanced earlier this year with the introduction of Stars, has gained an additional layer of functionality. Stars, which can be used for digital services and to support content creators on the platform, now play a role in Telegram’s growing economy through their use in the new Gifts feature.
Users can now gift their friends digital presents, which will later become tradable assets once the NFT conversion tool is activated. The upcoming tool, set to go live later this year, will allow limited-edition gifts to be converted into blockchain-recorded NFTs, further aligning Telegram with the expanding digital asset trading space.
The ability to auction and trade these NFTs on secondary markets outside of Telegram will enable users to interact with their gifts in new and dynamic ways. This feature introduces the prospect of increased value for certain gifts based on their limited availability and rarity. As more users engage in trading these digital assets, certain rare gifts are likely to become highly sought after, potentially turning them into valuable collectibles.
NFT Market Revival Through Social Media Integration
While the NFT market has faced a significant downturn, with sales reaching their lowest point since 2021, innovations such as Telegram’s NFT integration could contribute to revitalizing the sector. The combination of social media and blockchain technology may offer fresh opportunities for the NFT space to recover, especially as platforms like Telegram create new avenues for digital asset trading.
By integrating NFT functionality with the TON blockchain, Telegram emerges as a leader among social media platforms experimenting with blockchain technology. This approach not only enhances the platform’s offerings but also provides users with novel ways to engage with and benefit from digital collectibles.
TON Blockchain Expands Community Engagement with Crypto Rewards
In parallel with Telegram’s expansion of its digital economy, the TON blockchain itself has been actively fostering community participation. CNF recently reported that Toncoin, the native cryptocurrency of the TON blockchain, is encouraging crypto enthusiasts to take part in its “Earn Quest Notcoin” program through The Open League Quest. This initiative offers participants the chance to earn a share of $40,000 in NOT coins, blending incentives with entertainment to increase engagement within the crypto community.
By combining the allure of digital collectibles, blockchain technology, and user rewards, Telegram and TON are actively working to attract both social media users and cryptocurrency enthusiasts. As the Gifts feature evolves and NFT conversion becomes available, Telegram is likely to strengthen its position in the digital asset space, offering new opportunities for users to participate in the growing ecosystem of digital ownership.