In a stunning turn of events, the price of Toncoin (TON), the native token of The Open Network blockchain, surged by more than 35% within the span of a single hour today. The catalyst behind this meteoric rise was an electrifying announcement made by Pavel Durov, the billionaire mastermind behind the renowned messaging platform Telegram.
Durov took to his Telegram channel to unveil a game-changing development for channel owners on the platform. Effective next month, creators will have the opportunity to reap financial rewards for their content. With Telegram's broadcast channels boasting an astonishing one trillion views monthly, this move marks a monumental shift in the landscape of content monetization.
Until now, only a fraction of these views, a mere 10%, have been monetized through Telegram Ads, a privacy-centric promotional tool. However, come March, the Telegram Ad Platform will extend its reach to advertisers in nearly a hundred new countries, opening the floodgates for channel owners to capitalize on their content.
What sets this initiative apart is its exclusive reliance on the TON blockchain for ad payments and withdrawals. Drawing parallels to Telegram's successful implementation of usernames, Durov announced that ad sales and revenue sharing will be facilitated in Toncoin. This strategic move not only ensures the security and speed of transactions but also fosters a symbiotic relationship wherein content creators can choose to cash out their earnings or reinvest in channel growth.
The ramifications of this announcement were immediately felt on the market, as the price of TON experienced a significant surge from $2.155 to $2.95 per token.