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The integration of gaming with TON’s blockchain technology sparked the “tap-to-earn” trend in 2024. Games like Notcoin and Hamster Kombat captured over ~ 40 Mn and ~ 300 Mn users respectively, primarily driven by anticipation of an airdrop. Telegram Mini Games emerged as an innovative tool for engaging users, facilitating seamless onboarding experiences across and introducing users to the core features of a platform, such as staking tokens, subscribing to socials and more.
For more such detailed insights, read our in-depth “Crypto Outlook 2025” report.
The Origin story: How did we get here?
In 2016, Telegram launched its Gaming Platform, allowing developers to create HTML5 games directly within the app. This initiative gave users instant access to games without needing further downloads, promoting a more interactive community. In 2023, the platform evolved with Mini Apps, web applications that operate within Telegram. By Jan 2024, these apps integrated the TON blockchain, adding decentralized features and cryptocurrency rewards.
Net Active Wallets
The tap to earn trend was a major catalyst for the surge in net active wallets on TON, which increased from ~ 926.8K in Jan 2024 to a peak of 34.5 Mn in Sep’ 24, and stood at ~ 5.5 Mn as of Dec’ 24.
Transaction Volume
The transactions also were in the same rollercoaster: ~ 24.2 Mn in Jan’ 24 to peak of ~ 362.5 Mn in Sep’ 24, and stood at ~ 114.6 Mn in Dec’ 24, driven by TON’s structure to support fast, & inexpensive transactions.
The Airdrop Saga
Most of the Telegram mini-apps leveraged the power of airdrops to onboard users in large numbers. For instance, Hamster Kombat onboarded more than 300 Mn users and airdropped 60% of their token supply to ~ 131 Mn users. Dogs onboarded ~ 50 Mn users and airdropped 400 Bn tokens to ~ 42 Mn users.
The Fate of Airdrops – Plummeting Token Prices
The fate of most of the airdrops of TG mini-apps was the same as their token prices plummeted miserably after the token launch, resulting in losses for the users who decided to hold these tokens. $HMSTR launched at $0.008 with a Mcap of $550 Mn, saw its Mcap plummet to ~ $167 Mn within a month of its listing. $DOGS was trading at ~ 64% below its listing price, and $CATI (Catizen) was trading at ~ 52% below its listing price as of Dec’ 24.
One of the major reasons for this was poorly designed tokenomics. There was less emphasis on long-term sustainability and utility of the token within the mini-game which led to most of the users selling their tokens for profit-booking. Another reason was the huge supply allocated to users in the airdrop which led to oversupply in the market and caused the prices to crash.
Outlook for 2025
Telegram’s decision to integrate blockchain capabilities through TON has transformed its mini-app ecosystem into a user-friendly hub for Web3 adoption. The future of Telegram mini apps looks promising as we are likely to see apps enriched with AI-powered experiences, deeper integration with Web3, immersive 3D gaming experiences, and more.
Looking ahead to 2025 and beyond, Telegram mini apps are set to play a pivotal role in reshaping how users interact with digital services and digital assets. The growth of Telegram’s user base (950 Mn+ MAU), and cost-effective development of mini-apps is likely to persuade more projects to leverage this trend and create immersive experiences for user onboarding.
However, as Web3 protocols adopt this trend, they would need to solve the challenge of building effective incentivization models to ensure longevity of both the token and the project.
Why Check Out Our Full Report?
Our comprehensive report, “Crypto Outlook 2025”, provides an in-depth analysis of the evolving crypto landscape. It features deep insights into key verticals, & emerging narratives, along with expert opinion on different sectors.
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