Telegram on the Path to Becoming the Next Gen Ultimate App?
In today's rapidly evolving digital landscape, Telegram stands out as a frontrunner, amassing millions of users globally.
Together with the independent, decentralised Open Network TON, Telegram has the potential to transform into a multifunctional super app encompassing social media, payments, finance, entertainment, gaming, and communication—similar to China's WeChat.
Telegram is becoming the global superapp.
Seeing signs IRL on the TON Gateway stage. pic.twitter.com/GnfrQ5F0Bm
— Xin Yan 🧡👀 (@realyanxin) November 3, 2024
Gracy Chen, CEO of exchange and wallet provider Bitget, highlights Telegram's unique connection with the Open Network and its crypto trading features as factors that set it apart and position it for substantial growth.
Chen noted:
"I think the crypto adoption is definitely something that makes telegram stand out among other social media, and that's indeed one of the reasons we want to be closer to The Open Network ecosystem."
She also points to Telegram's swift adoption in emerging markets, especially among Africa’s youth, as evidence of its potential to become a universal app for billions.
Telegram is reporting massive usage from all over Africa…. 😂😂😂 pic.twitter.com/rpsKn4bPpQ
— Junkyard diver (@Anto_mbuguaa) November 4, 2024
Telegram the Catalyst to Driving Crypto Adoption & DeFi
According to Chen, Nigeria and Egypt lead Africa in Telegram adoption, with 54% and 53% of adults aged 16-64 using the app, respectively.
Chen attributes this popularity partly to Telegram's tap-to-earn mini-games, which have become a key feature within its ecosystem.
In October 2024, GSR, a crypto trading firm and liquidity provider, reported that The Open Network (TON) blockchain could be pivotal for mainstream adoption of crypto and decentralised finance (DeFi), thanks to its integration with Telegram's 950 million users.
This synergy enables users to access TON-based blockchain applications directly within the app, potentially positioning TON as a driving force for broad DeFi adoption.
The report states:
“While most of the attention around TON has focused on applications in the gaming and social segments, we believe that the TON+Telegram ecosystem also offers great potential for DeFi to finally break beyond its primarily crypto-native audience in what amounts to a massive opportunity that hasn't received due attention.”
GSR's data also placed Telegram as the eighth most popular social media platform globally, with recent download rankings showing its continued prominence, ranking sixth in downloads worldwide from March to May 2024, and currently ranking fifth from June to August.
GSR's analysis suggests that the close connection between TON and Telegram presents a compelling pathway to bring digital assets into everyday use.
Telegram Has the Foundations to Become a Super App
As businesses increasingly turn to Telegram for marketing and customer support, the platform's role in the digital space is poised to expand significantly.
By tapping into Telegram's unique features, users can enhance communication both personally and professionally, positioning themselves at the forefront of digital innovation.
Unlike other centralised platforms, Telegram is actively evolving into a SuperApp that bridges Web2 and Web3, setting itself apart with an approach that emphasizes decentralised services.
Through mini-app integration and leveraging its extensive user base, Telegram aims to offer a Web3 experience that fosters fairer revenue distribution, data ownership, and transparency for users.
With the recent addition of Mini Apps and integration with TON, Telegram is laying the groundwork for decentralised applications, setting a high standard in blockchain adoption for social networks.
This Web3-driven strategy not only strengthens Telegram's potential as a leading SuperApp but also provides users with a more equitable, secure, and transparent digital experience as the landscape shifts toward new technologies like blockchain and AI.
