Telegram, a messaging application, has recently announced a new feature that allows users to buy the platform’s advertisement services with cryptocurrency. The platform has chosen the Toncoin (TON) token for this and has mentioned that they preferred this over others because of its low cost. 

We chose the TON Blockchain because it has low fees, and high transaction speeds – and holds a record for the number of transactions it can process per second. Anyone can now promote their bot or channel – with budgets as low as a handful of Toncoins. When creating a Telegram ad, you choose the exact channels where you’d like it to appear, so you have full control over their context.

This plan is the next step for the Telegram ad revenue distribution program discussed in late February. 

Telegram Channels To Get 50% Revenue 

With the recent announcement, Telegram has become one of the few social media platforms that provide a fair reward system. Telegram channel owners will get a 50% reward of the total revenue. 

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This reward is for those channel owners who have 1000 plus subscribers and will get 50% of the revenue collected from the ads run on their channel. Additionally, there are no hidden withdrawal charges or fees. The user can directly access their rewards and even can choose to reinvest them for other telegram features like running telegram ads, collectibles usernames, and premium giveaways.

Telegram’s popularity has increased with its involvement with the crypto industry. The company is receiving over 1 Trillion views from its channels every month. Implementing such a reward system can boost the image of the platform. 

Toncoin Price Surged With Telegram Announcement

Toncoin was originally a Telegram project in the early days. At that time, it was known by the name Telegram Open Network. Later, the platform backed off from the token because of the SEC dispute and a non-commercial group took over the project. That is how it got the name ‘The Open Network,’ with the native cryptocurrency Toncoin (TON). Toncoin has always been affected by Telegram, where any new update with the messaging app leads to price fluctuations.

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Soon after the announcement on 31st March, Toncoin price surged to a high of $5.49 after a 7% price surge. Toncoin has surged almost 90% in the last month, clsoing at $5.28. At the time of writing, the price has dropped to 4% from yesterday and is $5.08. 

The token is ranked 11th for its market cap with a value of $17,637,4799,717 after a decline from yesterday. However, the trading volume is high by 12%, pushing the value to $240,554,849. With this value, Toncoin is just 13% away from its all-time high goal and might cross that soon. It is possible, if the trend continues for the next few days.

Toncoin has always been a preferred choice for Telegram. The Telegram founder, Pavel Durov, had earlier presented his views on the importance of fast and secure transactions for ad payment and withdrawal and why they prefer Toncoin.

To ensure ad payments and withdrawals are fast and secure, we will exclusively use the TON blockchain. Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins — or reinvest them in promoting and upgrading their channels

Conclusion

Telegram has chosen Toncoin for its payment and withdrawal services along with the 50% rewards distribution to the  channels. As a result of the announcement, the token finally surged to a week high, aiming for an all-time high value of $5.84

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The post Telegram News : Telegram Launches Toncoin Payments Services For Ads appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am