Telegram and The Challenge to Becoming a Super App

Driving Global Demand With New Social Innovation

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Topics Covered

Reading this article will help you understand Telegram’s blockchain roots and give a perspective on the app's potential to be a super app.

1. Telegram’s Background and Its Super App Goals

2. Comparison of Telegram to Incumbent Social Platforms

3. Telegram’s Future to Compete With Existing Platforms

4. Revenue Driving Action Items Telegram Can Employ

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Quick Notes✍️

Telegram, boasting 800 million monthly active users, is eyeing the super app status. 

But instead of competing for market share with the Chinese based incumbents,

Telegram is focusing on introducing super app features like Web3 wallets to emerging mobile-first markets. 

This strategy aligns with the rising influence of non-western nations in the crypto ecosystem, driving the platform's aim to pioneer mobile crypto payments. 

By showcasing the utility of crypto integration, Telegram anticipates increased demand, even in developed nations. 

But to capitalize the potential demand for integrated services, 

Telegram needs to create user experiences that make it easy for users to make in-app purchases.

To reach Telegram’s potential, funding is extremely important.

But instead of relying on Silicon Valley venture capital, 

Telegram has sold bonds to investors all over the world including the Middle East.

This evolution to a super app could potentially mark a positive shift for the crypto industry, combining communication, finance, and Web3 functionalities for a diverse global user base.

Full Analysis📝

Telegram’s Desire to Become a Super App

Super Apps already exist but unless you're located in China, one is probably not on your phone. 

Telegram and its 800 million monthly active users benefit from integrated finance in its app.

The app’s global presence has the potential to not only adopt existing super app models,

But drive adoption to the crypto ecosystem with a strong user experience. 

Thus, Telegram is focusing on identifying global markets which are mobile-first. 

Telegram’s focus on emerging markets as the priority segment is similar to this web3 trend.

Web3 seems to be led by non-western nations, especially within the crypto ecosystem.

Telegram is banned in China which has the bulk of the super apps,

But by integrating Web3 wallets into the platform, 

The platform can set the tone for mobile crypto payments in emerging markets.

With an example of utility, demand for these offerings in developed nations may increase.

Ultimately, Telegram becoming a super app is a positive sign for the crypto industry. 

TON Foundation’s director of growth Justin Hyun said, “With TON on Telegram, crypto becomes as easy as texting.”

Shifting focus from Telegram's worldwide aspirations to its current features and limitations relative to conventional social media platforms illuminates the distinctive path it carves within the crypto space.

Comparing Telegram to Incumbent Social Platforms

Telegram is similar to existing social media platforms. 

Current social platforms like X, TikTok, Instagram, and WhatsApp all have messaging capabilities.

But Telegram has embraced blockchain technology from the beginning.

Led by the Telegram Open Network (TON), the messaging platform is built with blockchain to scale.

Additionally, TON coin has been integrated into Telegram since the early stages of the platform.

Thus, Telegram has blockchain foundations that differentiate its technology from Web2 incumbents.

Some Web2 platforms offer the opportunity to purchase goods on the platform as well. 

For example, influencers on Instagram do campaigns for brands where buyers can shop.

TikTok is another platform that has integrated shopping through its platform as well. 

It seems like these Web2 platforms identified social commerce as a primary revenue stream. 

This is because there are ads displayed throughout their platforms.

There are even stores built within these platforms which enable buyers to purchase items in the social media interfaces. 

Telegram doesn’t have the same effect because it is not timeline or picture-driven

But, the possibility for its users to have unique wallets is revolutionary for payments.

Within the Telegram app, users can use the native wallet cryptocurrency bot. 

This wallet embedded in the platform enables users to buy and sell cryptocurrencies.

Thus in the near term, the workflow for using Telegram's wallet solutions may be different than buying something on Instagram. 

Telegram enables group chats with hundreds of thousands of users.

These channels enable users to find communities that have products that are relevant to their wants. 

But the Telegram user is ultimately very active in finding these channels to find products to potentially buy products. 

Thus, it is a lot easier to shop on incumbent platforms than Telegram in its current state. 

Some challenges exist for widespread adoption for purchasing goods through Telegram.

One thing to review is the discovery process as Telegram’s primary purpose is communication.

Social media platforms have greater visuals which may be more appealing to certain shoppers.

For example, it is easier to envision clothing on a person via images.

But Telegram's absence of a timeline doesn’t enable that capability. 

Thus, in the near term, payments performed through the app may be best for services.

For example, users can use the app to hire plumbers, electricians, and pay for the services directly through the app without fees. 

These types of business transactions are not only very convenient for buyers and sellers 

But also enables service providers to offer better pricing options with reduced fees. 

Thus, these one-to-one transactions drive business in a frictionless way.

Story-Driven Commerce Is Key to Telegram’s Evolution

Telegram has already launched stories on its platform in June of this year. 

Stories are an opportunity to drive ad revenue to Telegram.

Instagram integrated targeted advertisements in its stories feature some time ago. 

This is a model Telegram could add to drive economic activity within the application. 

But, users will understand the feature was bitten off of the Instagram playbook. 

Thus, Telegram can use Instagram’s foundation and improve the quality of the targeted ads.

Another thing Telegram can do is ask users for their buyer preferences. 

In the future this could be optimized based on user wallet activity, removing guesswork. 

With buyer preferences, Telegram can attract brands that resonate with their users. 

Additionally, users will be able to see advertisements that are relevant to their interests. 

This betters the overall user experience, providing a frictionless buyer journey. 

If Telegram continues to continue without a timeline structure, it can integrate interactive shopping through stories.

With each user having an embedded wallet, it would be possible to integrate shopping into stories.

If users could directly purchase the items within stories, it would increase buyer retention.

This would be a key differentiating factor between Instagram and Telegram.

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