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A company that is changing the way the world mines bitcoin

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12450
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Bitcoin Share
The Coin Rise 2025-01-28 11:35:38

Telegram’s Getgems Marketplace Eyes NFT Growth Amid Industry Slump

Telegram’s Getgems Marketplace Eyes NFT Growth Amid Industry Slump

Despite the NFT market’s downturn in 2024 , Getgems, an NFT marketplace on The Open Network (TON), remains optimistic about future growth by tapping into Telegram’s expansive audience. While NFT trading volumes have plummeted by nearly 20% according to DappRadar, Getgems believes Telegram’s 950 million monthly active users could be the key to reigniting interest in digital collectibles. Unlike some NFT projects that focus solely on speculative trading, Getgems emphasizes practical utility. The marketplace sees Telegram’s digital assets—like Usernames and Anonymous Numbers—as pivotal in demonstrating the value of NFTs. These digital identifiers have already achieved significant traction, with Usernames generating 72 million Toncoin in trading volume and Anonymous Numbers accounting for 24 million Toncoin. At current TON prices of around $5, this translates to a combined market activity of approximately $480 million. NFT-Powered Telegram Gifts Telegram’s continued blockchain integration is seen as a major step forward for Getgems. In October 2024, the platform introduced Gifts, a feature allowing users to send custom animated congratulatory messages. Telegram has since integrated these Gifts with the TON blockchain, offering users the ability to convert them into NFTs. The new feature has been met with enthusiasm, as Telegram CEO Pavel Durov revealed that over 20 million Gifts had been acquired by users. Getgems anticipates that this development will further boost interest in Telegram-based NFTs by making them more accessible and appealing to mainstream audiences. Pre-mint trading for these NFTs already demonstrated strong demand, with the market reaching a $1 million trading volume and a $10 million market capitalization before full integration. Getgems remains hopeful that Telegram’s blockchain-powered features will set the stage for greater adoption and continued innovation within the NFT space. Betting on Long-Term Utility While the broader NFT landscape struggles, Getgems is doubling down on its belief that Telegram’s tools can drive widespread adoption. The company views Telegram as a natural fit for NFTs , offering seamless integration with everyday digital experiences rather than focusing on speculative trading or gambling. Despite a turbulent year, Getgems sees a future where blockchain-backed digital collectibles find meaningful use cases, proving that the NFT market’s potential is far from over. The post Telegram’s Getgems Marketplace Eyes NFT Growth Amid Industry Slump appeared first on TheCoinrise.com .

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