Telegram CEO Pavel Durov Declares The Open Network (TON) the “Backbone” of Telegram’s Growing Creator Economy

His confidence finds support in over $400 million from prominent venture capital firms—including Sequoia, Benchmark, Ribbit, Draper, and VY

Pavel Durov, CEO of messaging app Telegram, highlighted The Open Network (TON) as a key factor in the development of the app’s creator economy.

In a recent post on Friday, Durov said that TON, the blockchain launched by Telegram, has become the core financial system for creators and mini app developers on the platform.

“Over the past year, it has also become the exclusive method for creators to withdraw their earnings and the preferred way to pay for Telegram Ads in many regions.”

The in-app economy of Telegram is also using TON for new features like Star Messages and tokenized digital gifts. Assets within the Telegram ecosystem, from usernames to digital gifts, are increasingly being traded as TON-based NFTs. TON is also the blockchain for Telegram Mini Apps, cementing its essential role.

According to Durov, the ability of TON to scale sets it apart from many blockchains that struggle when faced with high demand. He noted that the sharding capability of TON allows it to handle transactions for billions of users.

“This scalability is a key factor in TON’s ability to provide real, fundamental value and attract significant attention from tech and venture capital leaders,” he added.

The crypto analyst, known as CryptoPatel, noted bullish signs for Toncoin (TON) after a rebound from the $2.50 support zone, according to analysis shared on Friday.

Patel suggests that TON’s bullish structure remains as long as the price stays above the $2.30 to $2.50 range, adding that breakout targets discussed by analysts range from $20 to $100.

As of press time, TON is trading at $3.59 with a 24-hour trading volume of $150 million. The token has a total market cap of $9 billion and its circulating supply is about 2.5 billion TON, which supports liquidity across exchanges.