TL;DR
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We’ve seen a little bit of saltiness on-line about Telegram’s TON coin breaking into the coveted ‘Crypto Prime 10.’
Largely as a result of Telegram isn’t wholly crypto native (it’s a web2 app that’s now integrating web3 options), and is hastily out-performing a bunch of entrenched crypto tasks — however its rise makes whole sense to us.
Now, that is going to sound bizarre at first — however hear us out…
It’s established web2 firms which have largest alternatives in web3.
Right here’s an over simplified, left curve framework that we’ve concocted to clarify all of it…
When firms accrue worth, it’s usually due to a bonus in a single or all of those 4 interrelated ‘edge’ components:
Time (It’s going to take different firms a sizzling minute to construct/compete with them)
Expertise (They’ve collected and retained the neatest of us)
Community (They’ve all of the customers)
Distribution (E.g. Why achieve this many small beverage firms promote to Coke? With the intention to faucet their tightly held international distribution offers)
AI and crypto pose a risk to 3 out of 4 of those key components.
AI is already rising efficiencies for tech-focused companies, reducing the time and expertise required to construct/develop/preserve a product.
Whereas crypto networks are open, which suggests…
Rattling, how can we clarify this?
Keep in mind when Instagram created Threads (the Twitter/X clone), and allowed anybody with an IG account to routinely port their IG followings over to Threads?
Instagram might try this as a result of they owned each networks. However no single entity ‘owns’ anybody crypto community. So when you construct a well-liked web3 social app — opponents might come alongside and say:
“Hey, come use our app as an alternative/as effectively. And don’t fear — your entire followers and content material will come together with you to our new platform.”
Which makes distribution a little bit of an excellent energy on this new period of the web.
And Telegram has distribution up the wazoo!
Anybody that builds video games/apps on the TON community then has their creation distributed to Telegram’s 800M month-to-month energetic customers (by way of its ‘Mini Apps’ characteristic).
For context:
The 2 main pockets apps on Ethereum and Solana are MetaMask and Phantom — which have a mixed month-to-month energetic person base of 37M.
Which implies with this single web3 integration, Telegram was in a position to outpace the mixed distribution of two entrenched crypto-native apps by 20x.
Bonkers!
