The crypto industry may finally be witnessing the mass adoption it has been waiting for, thanks to the rising popularity of tap-to-earn games on Telegram. According to Gleb Kostarev, founder and CEO of Blum, half of the users participating in these games are completely new to the world of cryptocurrency.
Kostarev, who previously served as the vice president and regional head at Binance, revealed during an interview at Korea Blockchain Week that approximately 50% of the 50 million registered users of Blum’s Telegram Mini App tap-to-earn game and exchange had no prior experience with Web3 technology.
“Based on our data and community surveys, 50% of these users said they had never interacted with Web3 before,” Kostarev explained. “There were always questions about whether the Telegram audience could be converted to Web3, and now we have proof that it’s possible.”
Tap-to-earn games, a new trend in the crypto space, are simple mobile games where players earn in-game tokens by tapping their phone screens. Popular titles like Tapswap, Catizen, and Hamster Kombat are powered by The Open Network (TON), a blockchain linked to Telegram. This model is introducing a new wave of users to the cryptocurrency ecosystem, whether they realize it or not.
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Kostarev emphasized that Telegram is playing a key role in driving mass adoption. “We’ve been waiting for this moment for quite a while, and it’s happening through Telegram,” he said.
However, while these games are opening the door for crypto newcomers, Kostarev highlighted that the challenge now lies in educating this audience. “Education is critical,” he noted. “It’s not just about bringing users to crypto, but also ensuring they know how to navigate it safely and avoid scams.”
Beyond gaming, Telegram is positioned to help boost the adoption of decentralized finance (DeFi) applications, which have faced roadblocks due to restrictive mobile app policies from Big Tech giants like Apple and Google. Kostarev pointed out that 80% of centralized exchange users access platforms via their mobile devices, which poses a significant barrier to DeFi adoption.
“DeFi projects mostly rely on websites, while the majority of users prefer mobile platforms,” Kostarev explained. He added that Apple’s App Store and Google’s Play Store have numerous issues with DeFi and non-fungible tokens (NFTs), including Apple’s notorious 30% fee on in-app payments, which doesn’t support cryptocurrencies.
In fact, the U.S. Justice Department recently filed an antitrust lawsuit against Apple, accusing the company of stifling competition and innovation through its App Store policies, which have long restricted crypto and NFT payments.
“Telegram is uniquely positioned to solve this issue,” Kostarev stated. “It can offer users easy access to DeFi through mobile platforms without the constraints imposed by Big Tech.”
Despite its potential to revolutionize DeFi and crypto adoption, Telegram is currently facing legal challenges. In August, the app’s founder, Pavel Durov, was arrested in France for allegedly allowing criminal activities to take place on the platform.
While these legal issues may cast a shadow over Telegram’s growth, its tap-to-earn games and blockchain integration are still driving unprecedented user engagement and creating a gateway for crypto newcomers. As Telegram continues to expand its reach in the blockchain space, it could very well be the key to making cryptocurrency mainstream.
