Animoca CEO Predicts Telegram Will Be Essential for Web3 Projects

ChainPlay

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one month ago

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Robby Yung, CEO of Animoca Brands, predicts that every Web3 project will soon include a Telegram experience. This trend is already underway, with crypto projects like Hamster Kombat gaining over 300 million users through the platform. Yung sees this as the beginning of mass adoption for crypto and Web3 technologies.

Telegram's Growing Role in Web3 Adoption

Yung explained that Web3 projects, regardless of their focus, will need a Telegram strategy for user acquisition. Telegram serves as a distribution and marketing channel, helping to onboard users. Whether it's for decentralized finance (DeFi), gaming, or other crypto-related projects, Telegram offers an efficient way to engage new users and introduce them to core experiences. For example, some projects might use Telegram games to captivate users before redirecting them to more in-depth platforms or educational channels.

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PiP World provides a good example of Telegram's potential. The educational gaming ecosystem created a tap-to-earn game on Telegram to draw users in. With nearly 370,000 monthly users on their Telegram channel, PiP World can successfully direct them to other products within their ecosystem. Yung believes this model is crucial for the success of Web3 projects moving forward. In fact, he sees it as a similar shift that occurred in the banking industry when mobile apps became a standard alongside websites for online banking.

Telegram has embraced Web3 by introducing a native wallet and supporting crypto projects. With nearly 950 million total users, the app has become a hub for crypto gaming. Projects flocking to Telegram have gained massive followings, which has helped them achieve unprecedented user growth. Yung believes this is a clear indicator of mass adoption. The success of games like Hamster Kombat, which reached 300 million users, reflects the growing popularity of crypto projects on Telegram.

Crypto Wallet Growth Mirrors Telegram's Expansion

As of early 2024, the number of crypto wallets with a positive balance has grown from under 250 million to nearly 400 million. This growth aligns with Telegram's adoption of Web3. For example, the native currency of The Open Network (TON), the blockchain used by many Telegram apps, recently hit 100 million holders. Yung sees this milestone as further proof that Telegram is leading the way in embracing Web3.

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Yung highlights Telegram as the first major platform to embrace Web3 without placing significant restrictions on crypto and NFTs. Traditional distribution platforms, like Steam, have blocked Web3 features, making it harder for crypto projects to gain traction. Telegram, however, has been open to these technologies, providing an essential avenue for reaching global audiences. This openness has allowed crypto gaming projects to thrive, offering viral marketing strategies that other platforms have yet to provide.

One key factor in Telegram's success for crypto projects is its ability to harness viral marketing. Tap-to-earn games on Telegram encourage users to share, follow, and engage with content across social media. Hamster Kombat, for example, used this strategy to gain 37 million subscribers on YouTube. Additionally, Notcoin, another crypto project, became the most successful gaming token of the year, reaching a market cap of nearly $3 billion. These successes prove that Telegram is an effective tool for driving engagement and growth for crypto projects.

Yung believes that the success of these marketing strategies on Telegram will only expand. As more Web3 projects adopt similar approaches, Telegram will continue to be an essential platform for crypto projects seeking to build their user base and gain mass adoption. By leveraging Telegram’s unique features, projects can grow their reach and solidify their place in the Web3 ecosystem.