Recent developments in the realm of Web3 technologies have seen Telegram's Mini Apps receive a significant boost in funding. This initiative is aimed at integrating such technologies into the popular messaging service. Bitget Wallet, alongside Foresight Ventures, has pledged a substantial investment of $20 million (approximately Rs. 168 crore) to facilitate the growth of Telegram's Mini Apps. Data shared by the platform indicates that by July 2024, 500 million of its 950 million global user base engaged with these Mini Apps on a monthly basis.
The financial support is designed to propel the expansion of the Mini Apps ecosystem within Telegram, helping to establish a clear strategic path for development. This funding will also allow for the continued provision of Web3 games that incorporate cryptocurrency and NFT features, enhancing in-app entertainment for users worldwide. Bitget Wallet has introduced a developer's toolkit, called OmniConnect, which encourages Web3 app developers to create additional games and services that seamlessly blend into Telegram's interface.
This toolkit was made available in September this year. Developers in the Web3 space are now poised to collaborate with existing Mini Apps, broadening their game offerings under well-known brands. Telegram's Mini Apps, which became available in 2023, permit developers to create in-app applications utilizing programming languages such as HTML and JavaScript. Users can access these applications via Telegram's app store. The platform indicated that the introduction of this in-app development feature was a response to the growing demand from developers who wish to craft more complex applications.
Furthermore, these developers harness the Telegram-associated TON blockchain for developing and launching Web3 applications and games. The TON Blockchain has emerged as a prime choice for integration due to the scale of these applications. For instance, Notcoin swiftly attracted 40 million users while Hamster Kombat garnered an impressive 300 million players, highlighting the rapid growth of these offerings. The Web3 capabilities of the TON platform provide Telegram with a competitive edge, opening avenues for monetisation for creators and granting users authentic ownership of their digital assets.
Recently, popular titles such as Dogs, Hamster Kombat, and Notcoin have rapidly gained traction among the Telegram user community. For Bitget, investing in Telegram’s Web3 segment could be a strategic move to draw more developers to their tools. As of September, Bitget reported having over 12 million monthly active users. That same month, Bitget, along with Foresight Ventures, made headlines by announcing a $30 million investment in the TON blockchain.