Reading Time: 2 minutes
- Telegram is planning to allow users to convert Gifts into NFTs
- Gifts are a newly launched feature that involves animated images
- The NFTs will be tradable outside of Telegram
Telegram is planning to enable the conversion of its recently launched Gifts into TON-powered NFTs before the end of this year. Gifts is a new offering that features animated images that can be displayed on a profile or turned into Telegram’s in-app currency Stars. However, the conversion of Gifts into collectibles will be available to a select group of Gifts considered to be rare, something that may help drive the adoption of TON-based NFTs.
“A Great Way To Congratulate Your Loved Ones”
According to Telegram CEO Pavel Durov, the platform’s users will be able “to auction and trade these tokenized gifts outside Telegram, with ownership recorded on the blockchain.” The animated images can be sent to friends celebrating holidays and other important days. They also offer an option to accompany them with a custom message.
Durov noted that Gifts “are a great way to congratulate your loved ones on important events.” The social media platform disclosed that Stars can be used to purchase items from other mini apps or support creators on the platform.
Telegram Has Other Web3 Projects
The plan to convert Gifts into NFTs comes two months after Telegram launched an in-app browser to connect users to web3 and a new wallet standard that powers gassless transactions. It also comes a few days after Hamster Kombat announced NFT plans and CryptoKitties returned as a Telegram game.
Telegram is increasing its exploration of the NFT world when the space is in a bearish mood. In September, for example, the monthly NFT sales volume dropped to lows last seen in early 2021. A recent report also indicated that 96% of NFTs are dead.
With Telegram entering the NFT space, it’s to be seen whether Telegram/TON-based collectibles will attract the same following as Telegram games.
