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Online messaging app Telegram has announced the debut of its advertising platform with the use of The Open Network (TON) blockchain.
After the ad platform opens to all marketers in March, Telegram channel owners in more than 100 countries will be able to begin earning money for their labor.
The creator and CEO of Telegram, Pavel Durov, said on February 28 that channel owners would begin to receive 50% of the total advertising revenue that the platform generates from showing adverts in their channels. Payments on the Telegram Ad Platform will only be made over the TON blockchain, the release states.
“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,” claims Durov.
In the 24 hours before 12:40 PM UTC, the value of the TON blockchain’s coin increased by 13.86%, trading at $2.49. This last week, the coin has increased by more than 14%. According to CoinMarketCap, TON is the fifteenth-largest cryptocurrency with a market valuation of $8.6 billion.
Over 1 trillion views are generated by Telegram broadcast channels each month, yet only about 10% of these views are made possible by Telegram Ads, a privacy-focused advertising solution.
The TON blockchain is still gaining popularity. With plans to develop blockchain-based games for Telegram, Animoca Brands declared in November of last year that it would grow to be the biggest validator on the TON blockchain.
Also Read: North Korea’s Group Escalates Crypto Attacks via Telegram
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