Telegram, the social messaging app that every single ICO uses to share information and answer questions, is reportedly planning a massive ICO. The story was first picked up by Cyptovest referencing a post by former director Anton Rozenberg and a leaked roadmap.
Rozenberg speculated that an ICO for Telegram seemed logical. On the opposite side, monetization of a social messaging app could be a challenge. Unless you have a good plan. For reference sake, Rozenburg and Telegram’s founder are not on the best of terms.
The roadmap leak indicates development of TON (or Telegram Open Network) a blockchain powered, token ready service, began in 2017. The same roadmap indicates a TON wallet is forthcoming later in 2018 with sources saying a Telegram ICO will be launched in March 2018.
So why launch an ICO?
Well, Telegram has experienced mind-blowing growth. With 180 million active users and around 70 billion messages sent each day Telegram is entering the big leagues of social media. Heck, 40 million users are said to be in Iran alone as the messenger has so far been Mullah proof. It is said that Telegram accounts for about 40% of all internet traffic in Iran. And if you are not on Telegram now, you are probably older but even still, you will be soon. Telegram may be adding half a million new users every day.
Founded by Pavel Durov who has based Telegram in Dubai, he launched Telegram with a good amount of money earned from the sale of VK – Russia’s largest social network. Bloomberg reports that Durov ended up departing Russia with $300 million in his pockets and 2000 Bitcoins in his virtual wallet. So no pressing need for money here.
A write up by Techcrunch speculates that Telegram is considering an ICO that will top $500 million. That may seem like a lot but when you consider that Facebook bought Instagram’s 35 million users for about $28 each and paid $55 per user to acquire WhatsApp, then Telegram starts to look, well, rather cheap. Multiple sources have allegedly confirmed this number and the article shares portions of the apparent White Paper that outlines a Swiss army knife like list of crypto services including micro-payments, DAPPs and more.
Durov is said to view Telegram as more of a public service. One that provides unfettered communication that is encrypted and safe from the prying eyes of just about all governments. He is not inclined to sell to Zuckerberg or anyone else. So a Telegram ICO makes sense. Expect it to be huge.
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