Telegram Bolsters Crypto Features with NFT Gifting and Verification Update

Telegram has introduced new features in its app that are set to change the way traders interact with cryptocurrencies. The update includes NFT gifting and third-party verification features, which will enhance user safety and authenticity on the platform.

The verification process is now more stringent, requiring users or organizations to go through a thorough application process before being eligible for the verified mark. Once approved, verified profiles will display a distinct logo next to their names, making it easier for users to identify authentic accounts.

Telegram has also enabled users to monetize personalized gifts as NFTs. Users can buy Telegram Stars directly on the app or link their TON wallets to the Fragment site and send personalized gifts with custom backgrounds and icons. These gifts can later be minted as NFTs, which can then be traded on different platforms.

As a result of the update, Telegram's native token Toncoin (TON) saw a 5% increase in value within 24 hours of the update, despite a 22% decline in the last 29 days. The platform has been actively using crypto for its functionalities and is further strengthening its role in the crypto ecosystem.