Animoca Brands Doubles Down on TON, Predicts 100M New Web3 Users Within 18 Months

Showing its commitment for the future of the TON blockchain, Animoca Brands has revealed it intends to buy WATCoins on the secondary market.

Animoca Brands has revealed plans to purchase WATCoins on the secondary market, in a move that could further boost the adoption of the TON blockchain.

WAT is the utility token of WatBird, a Telegram app operated by Animoca subsidiary Gamee. The project has rapidly expanded its user base through a recent airdrop campaign, which saw WAT tokens being distributed in exchange for collecting Wat points.

Following the news, WAT experienced a sharp increase in price, doubling in value before experiencing a slight decrease.

Notcoin kicked off the airdrop trend on Telegram in early 2024 and has since hit 40 million users. Hamster Kombat and Catizen also joined the airdrop bandwagon, reportedly peaking at around 155 million and 30 million users at the height of their campaigns.

Meanwhile, WatBird's Telegram bot currently has 3.6 million users, while Gamee's Telegram channel boasts 4.5 million followers.

As TON's largest validator and an investor in the growth of the ecosystem, Animoca's bullishness on Telegram and TON is evident. However, it's crucial to note that the two platforms are not inherently linked.

Any game can launch on Telegram, irrespective of whether it's web3-enabled. Games can also be deployed on blockchains other than TON, such as Ronin-based Lumina Hunt, which adds credence to the theory that Telegram is set to play a broader role in the mass adoption of web3.

Emphasizing this point, Animoca Brands co-founder and chairman Yat Siu has expressed optimism that platforms like Telegram will contribute to the onboarding of 100 million new web3 users within the next 12 to 18 months.

In an even bolder statement, Animoca CEO Robby Yung has asserted that Telegram will be instrumental in the mass adoption of web3, comparing the messaging platform's role to the banking system's shift towards online banking. He envisions games using Telegram to funnel users to their main browser-based games, ultimately leading to a scenario where each sector, from DeFi to gaming, will have its own complementary Telegram app.

According to data on the growing number of mini-games on TON, Yung's predictions appear to be well-founded. During Q3 2024, the blockchain experienced a 320% increase in new game titles. Less than three weeks into Q4, this number has risen from 385 to 416, indicating an additional 7% increase.