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Telegram Messenger unveils its integration of the TON crypto wallet, making The Open Network its official Web3 infrastructure. This anticipated move enhances Telegram's interface, allowing users to engage with Web3 offerings more seamlessly.
The presence of this particular crypto wallet on Telegram's user interface serves as an exclusive promotion of the TON project as well. It was reported that the messaging app finally rolled out a crypto wallet almost three years after announcing its plans to build its own Web3 ecosystem.
⚡ TON Space is live! After a month of developer beta testing, #TON Space is now available for everyone in @wallet_tg! It offers full support for @ton_blockchain features, including TON Connect, Jettons and Collectibles right in the @telegram pic.twitter.com/jIBwiWIbAw
— Wallet in Telegram (@wallet_tg) September 13, 2023
As per CoinTelegraph, this crypto wallet that was created on the TON blockchain is now accessible to 800 million users of Telegram Messenger around the world. As a benefit, the TON Foundation said that projects built on the TON blockchain will be given priority access to Telegram's advertising platform, Telegram Ads.
It should be noted that the crypto wallet is currently available on Telegram for current users. It has yet to be rolled out globally starting in November, excluding the United States and some other regions.
The wallet was introduced during the Token2049 event, which is still ongoing in Singapore. After announcing its integration into Telegram, the price of Toncoin immediately increased by almost seven percent.
"We are putting digital ownership rights in the hands of our entire user base," CoinDesk quoted John Hyman, the chief investment officer at Telegram, as a statement. "While also giving TON projects the tools to reach our audience in the largest Web3/Web2 partnership there has ever been."
Despite integrating the TON crypto wallet on Telegram, Hyman said The Open Network will remain a "completely separate decentralized organization." He explained that "Telegram will focus on providing a fantastic messenger platform. It is not getting into Web3, but recognizes the value Web3 has for its users."
Photo by: Christian Wiediger/Unsplash
