Convert Telegram Gifts into NFTs by Year-End, Says CEO Durov

Convert Your Telegram Gifts into Blockchain NFTs by Year-End

Telegram is set to embrace the NFT space with a new feature that will allow users to convert digital Gifts into blockchain-based collectibles. While an official date hasn't been announced, Telegram CEO Pavel Durov confirmed that NFT support for Gifts would be rolled out by the end of this year.

Gifts and NFT Conversion: A New Era for Telegram Users

On October 5, Telegram introduced the Gifts feature, which allows users to send animated artwork and custom messages to their contacts. These Gifts are visible on the profile's Gifts tab and can also be converted into the platform’s in-app currency, Stars, which was launched in June to support payments for digital services and creators on Telegram.

Durov, in a post on his Telegram channel, further revealed that some of these Gifts are limited-edition items. By the end of the year, users will have the ability to convert these rare, limited-edition Gifts into NFTs powered by the TON blockchain.

The Integration of NFTs

Once converted into NFTs, these tokenized Gifts will have a life beyond Telegram. Users will be able to auction or trade them outside of the platform, with ownership being recorded on the blockchain. This move introduces Telegram users to the broader Web3 ecosystem, giving them more control over their digital assets.

Hamster Kombat and NFT Support

Telegram isn’t the only platform within its ecosystem looking to integrate NFTs. Hamster Kombat, a popular Telegram-based Web3 game, announced on September 25 that it would introduce NFTs as in-game assets in November, further pushing NFT adoption within the Telegram community.

NFTs in a Declining Market

Although Telegram's push into NFTs comes at a time when the overall market is experiencing a significant sales decline, the platform remains optimistic about the future. In September, NFT sales volume dropped to $296 million, the lowest since January 2021.However, by integrating NFTs into its platform, Telegram is positioning itself as a key player in the future of digital collectibles.

Also read :Cats Airdrop Listing date Binance: All You Need to Know