Around half of the users engaging in Telegram’s new tap-to-earn games are completely new to cryptocurrency, suggesting the messaging app might be a powerful tool for driving mass adoption of digital assets, according to Gleb Kostarev, the CEO of Blum and former Binance executive.
Speaking at Korea Blockchain Week, Kostarev revealed that his Telegram Mini App, which features a tap-to-earn game and exchange, has attracted 50 million registered users. Notably, he said that 50% of these players are newcomers to Web3, highlighting Telegram’s potential to onboard a broader audience into the crypto world.
Tap-to-earn games, where players perform simple tasks like tapping their screens to earn in-game tokens, have become the latest sensation in the crypto space. Popular titles like Tapswap, Catizen, and Hamster Kombat, built on Telegram’s linked blockchain, The Open Network (TON), are inadvertently introducing new users to the world of digital currencies.
Kostarev emphasized the importance of educating these new users. “Bringing in a mass user base is not enough. We also need to ensure they understand how to safely navigate the crypto world and avoid scams,” he stated.
Kostarev also highlighted how Telegram could revolutionize access to decentralized finance (DeFi) apps, which have been stifled by the restrictive mobile app policies of giants like Apple and Google. He pointed out that most DeFi platforms are limited to websites, while 80% of users prefer mobile access—a gap that Telegram could help bridge.
However, Telegram faces scrutiny, with its founder Pavel Durov recently arrested in France over allegations of allowing illegal activities on the platform. Despite this, Kostarev remains optimistic about Telegram’s potential to democratize access to DeFi and crypto at large.