Telegram Launches Crypto Features Amid Market Volatility

Telegram's latest update has integrated new crypto features into its messaging platform, further enhancing its role in the cryptocurrency ecosystem. The update includes NFT gifting and third-party verification features, which are expected to boost Telegram-based game tokens like Hamster Kombat.

The third-party verification feature will help combat scams and frauds by allowing verified accounts to display a distinct logo beside their names. However, the verification process is not easy, and accounts need to undergo a stringent application process to become eligible for verification.

Users can now buy Telegram Stars directly on the app or link their TON wallets to the Fragment site. Once they receive their Telegram stars, they can send personalized gifts with options like custom backgrounds and icons. These gifts can later be minted as NFTs, which can be traded on different platforms.

The new update has also introduced emoji reactions, improved search filters for private chats, channels, and group discussions. The impact of the update is already visible in the crypto market, with Telegram's native token Toncoin (TON) jumping 5% in value within 24 hours of the update.