TON Skyrockets 25% As Telegram Unveils New Revenue Sharing Feature, Crossing $3 Mark
In a notable development for the cryptocurrency world, Telegram, the popular social media platform, has introduced an ad revenue-sharing system for channel owners on its native blockchain TON. This move has resulted in a significant 25% price spike for TON, surpassing the $3,016 mark.
Previously known as Gram, TON is the native cryptocurrency of The Open Network (TON), a decentralized Layer 1 (L1) protocol. With the introduction of this new feature, Telegram aims to create a mutually beneficial ecosystem where channel owners can be financially rewarded for their efforts.
Telegram Introduces TON For Channel Monetization
According to Pavel Durov, CEO of Telegram, channel owners on the platform will be able to receive financial compensation starting next month. This announcement has generated considerable excitement among content creators eagerly awaiting an opportunity to monetize their channels.
With a significant one trillion monthly views generated by broadcast channels on Telegram, the potential for revenue generation is immense, Durov believes. However, only 10% of these views are monetized using Telegram Ads, a privacy-focused promotion tool.
Telegrams ad platform will be available to advertisers in nearly one hundred new countries in March. This expansion will allow channel owners in these countries to receive 50% of the revenue generated from ads displayed on their channels, incentivizing content creators and driving the growth of Telegrams ad ecosystem. Telegram CEO Durov further noted:
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
As announced, all transactions, including payments and withdrawals, will be settled on the TON blockchain, built by the same company that created Telegram, which reported 800 million monthly users as of July 2023.
TON Bullish Momentum Points Towards Potential New ATH
When the announcement was made in the early hours of Wednesday morning, TON experienced a significant spike, sending its price as high as $3.172. This level had not been seen since November 2023, when the token hit its all-time high (ATH) of $3.215.
The current bullish sentiment surrounding TON, coupled with the potential for wider adoption and use, suggests the possibility of a new ATH shortly. This is further supported by the overall market entering an aggressive bullish phase.
Despite the volatility exhibited by TON, as seen on the weekly TON/USD chart, there are no significant resistance levels ahead. Therefore, the outcome of a potential new ATH depends on the ability to sustain the current bullish trend.
Featured image from Shutterstock, chart from TradingView.com
Text source: NewsBTC
