Telegram has been no stranger to controversy, from the arrest of its CEO, Pavel Durov, in August, to recent policy changes affecting global users. Now, the messaging platform is making headlines again by hinting at an upcoming NFT-focused feature, despite 96 percent of existing NFTs being considered inactive. While the launch timeline remains uncertain, this feature will be tied to Telegram’s new “Gifts” service, which allows users to send and receive animated images and personalized messages as celebratory stickers.

How are Gifts Related to NFTs

As per Durov, Telegram will soon deploy the ability to convert limited edition Gifts into NFTs. These digital collectibles will be based on Durov-backed TON blockchain.

“Users will then be able to auction and trade these tokenised gifts outside Telegram, with ownership recorded on the blockchain,” a post on Durov’s channel read. In addition, receivers of Gifts on Telegram will be allowed to display them on their profiles as well.

he rollout of this feature, expected “later this year,” could position Telegram as the first global messaging app to integrate NFTs into its core functionality. Competing platforms like WhatsApp and Instagram have yet to introduce key features related to virtual assets, leaving their users exposed to the financial risks of Web3’s volatility.

NFTs, or non-fungible tokens, are digital collectibles created on blockchain networks. These tokens can be based on a wide range of inspirations, including cartoon characters, music, art, animals, and games. Often, NFTs come with underlying monetary value, rewards, and exclusive privileges for their holders.

It is to be noted that 96 percent of NFTs currently have zero trading volume, low sales, and no activity on social media. A recent report by NFTEvening said that the average lifespan of an NFT is now 1.14 years, which is 2.5 times shorter than the average lifespan of traditional crypto projects.

Telegram’s Experiments with Web3

Earlier this year, Telegram launched an in-app store for games known as Mini Apps. Many popular games within the Telegram Mini Apps feature digital assets such as cryptocurrency and NFTs as integral components of their ecosystems.

In late September, Telegram-hosted game Hamster Kombat said that it will be introducing NFT mechanics into its game ecosystem by December 2024.

The messaging app, under Durov’s leadership, also recently served as a launchpad for ‘Dogs Coin’ — a memecoin that generated quite the buzz on social media in August this year. Between July and August this year, the Dogs ecosysem had managed to amass over 3.19 million community members. As of Monday, October 7 – Dogs Coin is trading at $0.0007346 (roughly Rs. 0.062), showed CoinGape.

“Telegram Mini Apps is an open platform for businesses to build and deploy crypto-friendly apps and games. It supports integrated crypto and fiat payments (via Google Pay and Apple Pay). TON projects have exclusive access to Telegram ads and can kickstart a performance marketing campaign with Telegram Ads to effectively acquire more users,” the website of the Ton blockchain explains, indicating that Telegram is likely to continue its support for Web3 games, features, and services.

In an official blog post, Telegram said that the animated images and customised messages part of the Gifts feature can be converted into ‘Stars’. Telegram now states that Stars will serve as in-app currency that can be used to buy mini apps services and support creators.

Samsung, the South Korean tech giant, has been taking small steps to engage with Web3 without directly exposing its massive user base to volatile digital assets. In a fresh development, Samsung has announced a partnership with metaverse game Wilder World. Through this partnership, Wilder World will provide NFT rewards to fifteen customers of Samsung’s exclusive Web3 TV bundle. This deal, for Wilder World, will offer the game inroads into millions of houses through Samsung’s smart televisions.

A free-to-roam metaverse ecosystem, Wilder World is primarily a competitive racing game that launched for alpha testing in December 2023 and will begin a wider rollout this year. The team behind the game announced its partnership with Samsung via an official post on X on Wednesday.

In Samsung’s next sale of exclusive Web3 TV bundles, fifteen select buyers will get Wilder World NFTs as rewards. Through this partnership, the metaverse game expects to add new players to its ecosystem.

Samsung, catching up with the advancements in emerging technologies, is essentially looking to connect with a newer generation of customers. The Seoul-based company is hence integrating Web3 elements like the metaverse and NFTs with its newer range of products.

Samsung has long maintained its lead in the television market. In 2023, the company reportedly occupied a 30.1 percent market share of televisions sold globally, which was slightly higher than the previous year’s 29.7 percent. With its new initiatives, Samsung could directly bring Web3 technologies to its vast user base.

This is not the first time that the tech mammoth has taken a Web3-friendly approach. In April 2023, for instance, Samsung teamed up with Crypto.com to bring asset trading services on devices from the Galaxy Z fold series.

In 2022, Samsung tied up with partners Theta Labs and Nifty Gateway to get NFTs to its smart TV and smartphone ecosystems.

In fact, the same year Samsung introduced the world’s first TV-based NFT explorer. Later that year, the company started rolling out smart TV models that came with features like NFT buying and management.