In a notable shift towards Web3, Telegram’s TON network has experienced a staggering 400% increase in NFT transactions. A recent report from Helika highlights this surge, especially in the third quarter of 2024, sparking considerable interest among cryptocurrency stakeholders about the implications of this trend.
What Factors Contribute to the Rise of NFT Transactions?
Helika attributes this increase largely to the growing popularity of games within the TON ecosystem, which have attracted a substantial user base. Titles such as Notcoin, Catizen, and Hamster Kombat have been pivotal in driving NFT sales, taking advantage of Telegram’s extensive 900 million users.
Are Web3 Games the Key to Engagement?
Indeed, the user engagement metrics reflect this trend. The average session duration has soared from 2.8 minutes to 6.7 minutes, indicating a deeper involvement in transactions related to NFTs and in-game activities. Games like Catizen and GAMEE have collectively created over 3 million active wallets, further amplifying the ecosystem’s transaction volume.
This boom in NFT transactions is also linked to successful airdrops and promotional activities. For example, Catizen’s airdrop and Gamee’s impressive 300% rise in monthly transactions have heightened user engagement, alongside X Empire’s impressive user base growth and NFT coupon distribution.
Key findings from the report include:
- A remarkable 400% increase in NFT transactions since Q3 2024.
- Over 3 million active wallets created in September linked to Web3 games.
- Average user session times nearly doubled, indicating increased engagement.
The ongoing collaboration with the Telegram Gaming Accelerator (TGA) and the influx of diverse gaming applications have also enhanced the TON ecosystem’s attractiveness. This combination of user-friendly experiences and social integration is set to further stimulate NFT transactions on the platform.