Telegram is the company that held the largest ICO in the history of cryptocurrency, but it is also the one blockchain and crypto company that has done so without ever releasing a coin, publically.
The ICo was originally held in 2016 and was quickly restricted to a number of high net worth investors from around the world. The general public never got the chance to deal with the ICO or purchase any kind of coin during the ICO, which was infuriating for many but was also a good chance for the company to acquire a lot of invites only investment into itself. This resulted in a controversy about the company, as a large number of individuals within the public wanted to be given the chance to be a part of the ICO and hold the coin for themselves. The company has been promising to release its coin ever since then, but after three years, there did not seem to be much of a reason to believe that it would be happening any time soon. But, recently, telegram announced that they would be releasing the coin by the end of October, or else the company would end up giving up the $1.7 billion in funding it had acquired in order to make its vision a reality.
Finally, a chance to invest
After three years of expectation, this news is definitely something to be excited about. The company has managed to fail to do so for three years. This has been the source for a lack of trust from the previous high-level investors into the company, as the failure to deliver has been seen as a way for investors to be unable to increase the value of their financial assets. But, now with the deadline approaching, Telegram has committed to establishing a releasing a strong coin for their benefit, at a value that is three times higher than their initial ICO. In doing so, Telegram is hoping to increase the value of the coin that the initial investors are holding at the moment, while also allowing the potential investors to have more motivation to invest. The coin is expected to have a high demand associated with it, which is why the increase in the coin value is also seen as a positive thing. While decreasing demand might be the direct result, the value is seen as close enough to the equilibrium of demand and supply to cause the coin to continue increasing in value over time.
But investors who understand the crypto industry more or less have additional questions as to how the company is going to facilitate the release of the coin, how they know the demand for the coming is going to be high and how they are going to allow the coin to easily integrate into the international exchanges. Many investors are curious how they are going to be fulfilling the needs of a highly active cryptocurrency market, the exchanges and even businesses that are starting to accept cryptocurrencies such as the new Aussie online casino sites listed here, all of which accept crypto payments. The questions have been answered quickly and quite concisely by the Telegram team with the announcement of the coins release happening by October 31st.
A captive audience of 200 million
Telegram has managed to create quite an impressive audience over the three years of its operation. There are, at this point, around 200 million daily users of the application. This has been leveraged as one of the reasons that the company is actually going to see high demand on their coin, and rightfully so. While not all 200 million people will be looking to purchase the coin, a significant number of them might. The company has also announced that it will also be releasing its own native Telegram Wallet, which shall be offered to all users of the application. The program will be integrated with the app, so all 200 million of the users will be able to easily access it at any point they wish to do so. This has given the previous investors the kind of confidence in the app and in the release of the coin to understand why the new coin value might be just viable enough to work and help them increase the value of their cryptocurrency portfolios.
The deadliest deadline
October 31st is the deadline that seems to be incredibly important. According to the report published by the New York Times, Telegram agreed to the hard deadline at the time of their initial ICO. At the time they were promising that if the company had not released coins by the time the deadline hit, the company would be returning all $1.7 billion of the investments it had received in order to produce the product they have been working on. The promise, at the time, was that the company would be using the money in order to create the coin and make it a comprehensive system and framework to operate on the markets that would change the way everyone saw cryptos. They also promised to introduce the app’s own wallet and a number of other features. At the moment, the deadline is looming as an incredibly dangerous point in the story of Telegram, and with barely 2 months left until the deadline strikes, people are starting to get worried that Telegram might be failing to produce the promised results. If they do, it will be the end of the company and of the app.