Gram token, distributed between investors during TON private ICO, will rapidly increase in price after the launch of the blockchain platform, says crypto investment firm HASH CIB.
Telegram Open Network (TON), Telegram’s blockchain platform, that raised $1.7 billion during the private ICO round, will be competing on several markets not linked to blockchain, said HASH CIB, a crypto investment company, in an interview to RBC News. The platform will support cloud storage, DNS and anonymizer services. If successful, it could gain 10% of the market by 2028.
The market, says HASH CIB, does not evaluate cryptocurrency rationally, and Telegram is unlikely to become an exception. The proposed valuation model might fail at the early stage, given that prices in the blockchain industry are based on speculation, rather than traditional supply and demand.
The firm suggests Telegram’s key competitors could become blockchain projects, and not messenger services. Despite a huge user base of over 200 million, startups could have an advantage by solving issues of scalability and compatibility faster, owing to their open source code.
Telegram’s initial coin offering took place at the beginning of the year. 175 investors who put in their money will subsequently receive cryptocurrency Gram. The coin total emission is 5 billion, of which 2.89 billion has been sold. 2.25 billion tokens were sold at $0.38 during the first stage, and 639 million at $1.33 during the second. The third stage will draw at least $3.62 per Gram, according to white paper. Therefore, the second round participants could see their initial investment triple.