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Telegram has rolled out a new feature allowing users to purchase channel advertisements using Toncoin, as announced over the weekend. This update is part of the messaging app’s latest initiative for user monetization, wherein 50% of the revenue generated from ads displayed in public Telegram channels will be distributed to their respective owners.
According to Telegram, users can now promote their channels by spending as little as “a handful” of Toncoins. Users will have the flexibility to select the specific channels for placing their TON-powered ads, as mentioned in the announcement.
Moreover, channel owners will have the capability to withdraw their earnings without incurring fees. The withdrawal service is expected to be available in the coming weeks on Telegram’s Fragment exchange, according to the announcement.
Telegram justified its choice of the TON Blockchain due to its low fees, high transaction speeds, and impressive processing capacity. The TON Blockchain reportedly achieved a remarkable 100,000 transactions per second during a test conducted last November.
Pavel Durov, CEO of Telegram, hinted at this update on his channel last month. Despite Telegram channels amassing over 1 trillion monthly views, Durov revealed that only 10% of channels have utilized Telegram ads for monetization thus far.
Durov emphasized the potential for a positive feedback loop, wherein content creators can either cash out their Toncoins or reinvest them in promoting and enhancing their channels.
As of the time of publication, the price of Toncoin has risen by 2.32% in the past 24 hours, reaching $5.24.
Featured Image: Freepik
