Telegram’s Mini Apps Initiative has received substantial funding to integrate its Web3 technology into its messaging platform. Bitget Wallet and Foresight Ventures have pledged $20 million (about Rs 168 crore) to drive the growth of Telegram Mini Apps, as Cointelegraph reported on Monday, November 11. As of July 2024, Telegram reported $500 million of its 950 million Global users using mini apps monthly.
Funding is designed to support the expansion of the Telegram Mini Apps ecosystem, enabling it to develop a strategic growth roadmap and continue to provide its global user base with cryptocurrency and NFT-capable Web3 games to enhance in-app entertainment.
According to Cointelegraph, Bitget Wallet proposes to let Web3 application makers use their own developers’ suites to create more games and services that integrate Web3 into the Telegram interface. The developer kit is called Omniconnect, which was launched in September this year.
Web3 developers will also have the opportunity to work with existing Mini applications to expand their gaming offerings under established brands. Telegram’s mini app, launched in 2023, allows developers to build in-app applications in languages such as HTML and JavaScript, making these applications accessible through Telegram’s App Store.
Telegram reportedly told Cointelegraph that providing this in-app development capability is a natural advancement driven by developers’ need to create more complex applications. These developers use the telegram-related to tons of blockchains to design and launch Web3 applications and games.
“When you consider the size of some of these applications, tons of blockchain is the obvious choice for integration. Notcoin quickly gained 40 million users, while Hamster Kombat has about 300 million participants.
TON’s Web3 engine provides a competitive advantage for Telegram’s platform, opening up new monetization opportunities for creators and providing users with real ownership of digital assets. ”
Dogs, hamster Kombat and Notcoin have recently become some of the most popular names in the Telegram Mini app, quickly gaining attention among telegram users.
For BitGet, this investment in Telegram Web3 units could be used as a strategy to encourage more developers to leverage their developer tools. The platform claims that more than 12 million monthly active users were reported in September. In the same month, Bitget and Foresight Ventures announced a $30 million investment in ton of blockchain.
