Research
Log In
Pro
Social Media
Web3
Consumer
Layer-1
Gaming

Evaluating The Open Network's Onboarding Thesis

Jul 5, 2024 ⋅  20 min read

The Open Network (TON) is a layer-1 blockchain that is now being exclusively integrated into Telegram. The TON Foundation has committed to onboarding 500 million new crypto users onchain by leveraging Telegram's growing pool of 900 million monthly active users. TON aims to address critical points of friction with onboarding new crypto users through Telegram's native wallets, payments platform, and mini-apps. These features combined create a leading crypto mobile experience that could just be Web3's next killer app. While TON is shooting for the stars with its onboarding projection, analysis shows that perhaps a much more reasonable benchmark is good enough. Early traction in GameFi indicates that TON is making progress towards becoming one of crypto's most adopted blockchains.

Upgrade to Messari Pro to read this report

Pro Subscription
$75.00/ month, billed annually

Annually

Professional-grade Research Reports covering the latest trends and assets in the crypto space

Fundraising Screener to track trends across 14,000+ crypto funding rounds, 500+ M&A Deals, and 10,000+ investors

Unlocked Enterprise Research Reports 90 days after they are published

Full access to advanced asset screening with custom filters, queries, and metrics

Real-time Governance Tracker covering proposals from their initial stages through votes and implementation

Advanced AI Digests with all of the features in Lite plus Key Developments for major protocol changes

Upgrade to Pro

Already a member? Sign In

Sunny was previously a TradFi Research Analyst at a long-only hedge fund. He is now an Enterprise Research Analyst at Messari focusing on consumer, DeFi, and all things cool.

Mentioned in this report

About the author

Sunny was previously a TradFi Research Analyst at a long-only hedge fund. He is now an Enterprise Research Analyst at Messari focusing on consumer, DeFi, and all things cool.

Mentioned in this report