Telegram to Share Half of Advertising Revenue in TON Token, TON Price Up 30%
Messaging app Telegram will change its advertising policy starting March 2024, sharing up to 50% of ad revenue with users.
Telegram to Share Half of Advertising Revenue in TON Token, TON Price Up 30%
In a statement posted on Telegram's official channel on the evening of February 28, Telegram founder Pavel Durov announced that the popular messaging app within the cryptocurrency community will begin sharing advertising revenue with users through TON tokens.
Durov mentioned that Telegram ads currently receive 1 trillion views per month, but only 10% of these generate financial returns through Telegram Ads. To enhance efficiency, starting March 2024, Telegram will share up to 50% of marketing revenues with channel owners who agree to display advertisements.
Notably, all buying and selling activities and revenue generation from ads on Telegram will be facilitated through TON, a blockchain previously developed by Telegram and now community-managed. The Toncoin (TON) will serve as the payment tool, ensuring high transaction speeds and minimal processing times.
The price of TON tokens surged over 30% following the announcement that Telegram integrated it as the advertising payment and revenue-sharing currency. Toncoin currently ranks as the world's 15th largest cryptocurrency with a market capitalization of $9.6 billion USD.
Recent price fluctuations of TON in the past 24 hours, CoinMarketCap screenshot at 08:10 PM on February 28, 2024
The direct revenue-sharing model with users was initially pioneered by social media platform X (Twitter) after being acquired by billionaire Elon Musk in late 2022, albeit using USD as the payment method.
In the past, Telegram has made various announcements regarding TON acceptance, including integrating a crypto wallet to enable direct cryptocurrency transfers within its messaging app.
Update:
Following community feedback and concerns over Telegram using TON as an ad payment method potentially concentrating a significant percentage of the total coin supply in Telegram's hands and threatening network stability, Durov stated that Telegram will self-limit its TON holdings to no more than 10% of the total supply. Any excess tokens will be sold to long-term investors under lock-up requirements ranging from 1 to 4 years.
