Hamster

Hamster Kombat

Collector

Telegram CEO Pavel Durov teased an upcoming non-fungible token (NFT) conversion feature amid the launch of the social platform’s Gifts, animated images that can be displayed on a profile or converted into the social platform’s in-app currency called Stars.&nbsp;
On Oct. 5, the instant messaging platform <a data-ct-non-breakable="null" href="https://telegram.org/blog/gifts-verification-platform/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">revealed</a> Gifts, which can be used to congratulate Telegram contacts with custom messages and animated artwork.&nbsp;
<figure><img alt="Telegram to enable NFT conversion for new Gifts feature" src="https://s3.cointelegraph.com/uploads/2024-10/0192610f-c04b-7d28-bce9-baf3be4e7716" title="">
 <figcaption style="text-align: center;">
 Telegram allows users to send animated Gifts to their contacts. Source: Telegram
 </figcaption>
</figure>
According to Telegram, users who receive gifts can display them on the Gifts tab on their profiles. They also have the option to convert the gift into Stars.&nbsp;
On June 6, the social networking platform <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/telegram-unveils-stars-token-for-in-app-purchases" rel="noopener noreferrer nofollow" target="null" text="null" title="null">launched the in-app currency</a>, Stars. The feature allows Mini Apps on the platform to accept payments for digital services. Telegram also highlighted that Stars can be used to support creators.&nbsp;
<h2 id="telegram-to-enable-nft-conversion-for-gifts">Telegram to enable NFT conversion for Gifts</h2>
Amid the launch of Gifts, Durov <a data-ct-non-breakable="null" href="https://t.me/durov/348" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a> in his Telegram channel that the animated artwork will support NFT conversions soon. The executive noted that holders will have the ability to convert some Gifts into NFTs. He explained:&nbsp;
<blockquote>
 “Some gifts are in limited supply. Later this year, we’ll introduce the ability to convert these limited-edition gifts into TON-based NFTs.”
</blockquote>
After being converted into blockchain-based digital collectibles, the limited-edition Gifts can be used outside of Telegram. “Users will then be able to auction and trade these tokenized gifts outside Telegram, with ownership recorded on the blockchain,” Durov added.&nbsp;
Apart from Telegram itself, the popular Telegram-based Web3 game Hamster Kombat also expressed earlier that it would add support for NFTs. On Sept. 25, the viral clicker game said it would <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/hamster-kombat-2025-roadmap-revealed" rel="noopener noreferrer nofollow" target="null" text="null" title="null">integrate NFTs as in-game assets</a> in November.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/telegram-users-report-massive-app-outage" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Telegram users report massive outages on messenger app</a>
<h2 id="telegram-s-support-for-nfts-comes-amid-a-sales-decline-for-collectibles">Telegram’s support for NFTs comes amid a sales decline for collectibles</h2>
While the Telegram ecosystem seems keen on supporting NFTs, the broader market reached its lowest sales volume record since 2021.&nbsp;
In September, NFTs <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/nfts-lowest-monthly-volume-since-2021-cryptoslam" rel="noopener noreferrer nofollow" target="null" text="null" title="null">recorded a monthly sales volume of $296 million</a>, its lowest record since January 2021. The figure represents an 81% drop from March, the space’s strongest month this year.&nbsp;
In addition to declining sales volumes, NFT transactions decreased by 32% month-on-month. Transactions involving digital collectibles went from 7.3 million in August to only 4.9 million in September.&nbsp;
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/nft-collector-suzanne-pudgy-penguins-cryptopunks-fidenzas/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">‘Treat your first NFT purchase like a first date’ — NFT Collector Suzanne</a>&nbsp;

Telegram to enable NFT conversion for new Gifts feature

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