50% of Telegram Tap-to-Earn Gamers Are Crypto Newbies, Says Blum CEO

In Brief:

Blum CEO Gleb Kostarev reports that 50% of Telegram tap-to-earn gamers are new to crypto, highlighting the platform's potential for mass adoption.

Kostarev emphasizes the importance of educating new users to prevent scams and sees Telegram as a gateway to DeFi amid restrictions from major app stores.

‍

50% of Telegram Tap-to-Earn Gamers Are Crypto Newbies, Says Blum CEO

‍

Gleb Kostarev, CEO of Blum and former Binance executive, claims that half of the users playing tap-to-earn games on Telegram are new to the cryptocurrency world. Speaking at Korea Blockchain Week, Kostarev emphasized the potential of Telegram's platform to drive mass adoption of crypto technologies.

‍

Educating New Crypto Users

‍

Kostarev revealed that 50% of the 50 million registered users of Blum's tap-to-earn game and exchange had no prior interaction with Web3. The simplicity of these games, which involve tapping on the screen to earn tokens, attracts a wide audience. However, Kostarev stresses the importance of educating these new users to ensure they understand the crypto space and avoid scams. He believes that Telegram's platform can provide access to decentralized finance (DeFi) applications, overcoming the restrictions imposed by major app stores like Apple's App Store and Google Play Store.

‍

Telegram's Role in DeFi Access

‍

Kostarev argues that Telegram can help increase access to DeFi apps, which have been hindered by restrictive mobile app policies. With a significant portion of centralized exchange users accessing platforms via mobile, Telegram's ability to provide DeFi access is crucial. Despite facing scrutiny from authorities, Telegram remains a promising avenue for expanding crypto adoption and integrating DeFi into mobile platforms.

‍