Telegram Users Embrace NFTs as Activity Soars 400% in Previous Quarter

With the rise of Web3 interactions, Telegram users are increasingly embracing non-fungible tokens (NFTs) on the platform.

A recent report from Helika, a Web3 data provider, reveals a remarkable 400% increase in NFT activity on Telegram during the third quarter of 2024.

Helika’s “Q3 ‘24 Telegram Games Report” indicates that unique wallets engaged in daily NFT transfers on Telegram jumped from under 200,000 in July to over one million by September.

The report highlights that Telegram gamers are actively purchasing, sending, and utilizing NFTs within games, suggesting a robust ecosystem. It also noted that three million active wallets were recorded across nine games on the platform in September.

READ MORE:

Goldman Sachs Anticipates Fed Rate Cuts, Raising Questions for Crypto Investors

In addition to rising NFT transactions, gaming engagement has lengthened, with the average session time growing from 2.8 minutes in August to 6.7 minutes at the beginning of October, attributed to more immersive experiences.

One standout title on Telegram is Hamster Kombat, which has achieved viral status with over 300 million users. On September 25, the game announced plans to incorporate NFTs and introduce new titles within its ecosystem. Its roadmap outlines NFT integration for Season 2, set to launch in November, with a recent trailer hinting at a new narrative where players become CEOs of their own companies.

Kostadin Dimitrov