English
Arabic
Chinese (Simplified)
Indonesian
Russian
Information of not too long ago leaked monetary experiences of Telegram have proven the moment messaging service to be a loss-making enterprise. In 2023, Telegram generated $342.5 million in income, however it did so by posting an operational lack of $108 million.
What’s fascinating is that a good portion of that income got here from Toncoin(deemed as an Built-in pockets within the report). With the arrest of Telegram CEO Pavel Durov, questions have arisen in regards to the reliance on the TON ecosystem to gas monetary sustainability.
A former Director of Institutional Development make clear the leaked Telegram financials addressing the adverse tales round it. His evaluation offers insights into how this integration shapes the way forward for each the platform and the cryptocurrency.
As a Strategic Advisor of @ton_society and former Director of Institutional Development at TON Basis, beneath is my fast tackle the leaked financials of Telegram and Monetary Instances’ reporting.
— Justin (@maverickqe) September 2, 2024
Justin highlights TON’s significance to Telegram
Income Composition
In accordance with the report, $130 million was generated by means of built-in wallets, whereas Telegram premium subscription accounted for under $94 million of that income. Roughly 40% of Telegram’s 2023 income got here from TON-related actions.
Recognition of TON be Telegram
Telegram acknowledges Toncoins as non-cash concerns in its income disclosures by measuring them at honest worth upon receipt. This apply underscores the platform’s growing reliance on TON transactions. It has now been upgraded to broader ecosystem cash like Hamster Kombat, DOGS, Notcoin, and extra.
Multi-year Settlement for Integration
In September 2023, Telegram and The Open Community (TON) Basis signed a multi-year settlement to combine the Telegram Pockets. An on-chain switch of 285 million TON was made, which quantities to round $1.5 billion at present alternate charges.
Monetary Reporting won’t be correct
Since Telegram’s operational money move is so closely depending on TON and the value of TON fluctuates massively, it won’t be precisely reported. A revaluation of those digital belongings with the present market charges will influence the corporate’s steadiness sheets and might not be absolutely mirrored in its P&L statements.
Web3 Monetization as a type of resistance
Telegram’s transfer towards Web3 monetization offers resistance towards central authority crackdowns. This decentralized income mannequin, in contrast to conventional social media methods, avoids the pitfalls of information assortment and ad-driven monetization. In mild of Durov’s arrest and the way Telegram faces criticisms from many governments, an alternate income channel like that is important.
Symbiotic Relationship
Telegram’s success is more and more tied to TON’s progress, making their relationship extra symbiotic. TON’s success is now essential for the messaging platform’s long-term existence. New initiatives on the TON ecosystem, like DOGS and Hamster Kombat, additional solidify this relationship as they improve traction on the app and the elevated traction leads to extra income for Telegram.
Is Telegram’s future tied to TON’s progress?
Telegram’s leaked monetary report, coupled with Justin’s evaluation, reveals its dependency on TON. It is very important observe that these monetary experiences are from 2023. In 2024, Telegram’s income from “Built-in Wallets” will probably be a lot larger than 2023’s 40%. Moreover, the decentralized nature of those income streams gives Telegram a buffer towards regulatory and operational challenges.
Unbiased social media platforms are notoriously exhausting to scale. We are able to see Elon Musk wrestle with X’s income and valuation. If Telegram can get out of its monetary troubles by means of TON, Elon Musk can actually have a brand new use case to launch a brand new X cryptocurrency to monetize the ecosystem.
Additionally Learn: Vitalik Buterin Unlocks 1.26M Starknet Token Value $469k