For the first time, rumors of its own cryptocurrency and Telegram’s blockchain platform appeared at the end of December. The information about the project is sketchy and is not confirmed on the official site of the messenger. Meanwhile, scammers have already tried to take advantage of the situation and raise funds for a pseudo-ICO. But with the real ICO Telegram, it will be difficult to compete.
According to Bloomberg, the Telegram Open Network project (TON) plans to raise a total of $ 1.2 billion: $ 600 million during a closed token in February and another $ 600 million in a public round in March. And this is the most ambitious ICO ever.
In addition, Telegram expects to become a competitor to Visa and Mastercard in terms of speed and volume of transactions and create a digital asset that will be used as the main means of payment: “Someone like Telegram or WhatsApp should make mainstream cryptocurrency,” said Iqbal Gandham, Managing Director trading platform eToro, mentioning that Telegram already focuses all crypto audiences. Gandham also noted the “amazing technical side of the project” and the founders’ background: “I think the whole world would have invested if I could,” he said.
At the stage of the closed token, investors will be able to buy Gram tokens with a discount of more than 50% compared to the price at the time of the public ICO. However, after adding the cryptocurrency to the listing of exchanges, which is expected in 2019, participants in the closed round will not have access to the “frozen” tokens for another 18 months.
Such conditions forced us to change our minds about the potential investor Joe Di Pascal, who manages the crypto-currency fund on the BitBull Capital network and supports crypto projects from 2013: “It’s too expensive and risky for me at this stage,” Pascal said. “Nevertheless, they should have a huge success in attracting funds, and the final fee will be hundreds of millions of dollars.” However, the investor stressed that $ 1.2 billion is a “big goal”, and it is impossible to say whether it will be achieved.
Is this also going to sell out in 22 mins? 🧐
— 🧐 Bitcoin Gent! 🧐 (@BitcoinGent) January 15, 2018