NFTs (Non-Fungible Tokens) are trying to get back the hype and catch the attention of Web3 enthusiasts. Recent reports show that Telegram has become a surprising new hub for activity involving these digital collectibles.

Non-fungible tokens create blockchain-based digital certificates for one’s digital collectibles, including games, music, and art, giving the artwork a unique identity.

NFT Integration Advances Telegram Gaming Ecosystem

Helika’s “Q3 ‘24 Telegram Games Report” provided extensive insights into how NFT interactions are advancing on the messaging app. In July, the daily number of unique wallets transferring NFTs on Telegram was below 200,000 but had skyrocketed to over one million by September. This represents a growth of over five times in less than two months.

Against this backdrop, the report showed NFT activity on Telegram surged by a staggering 400% in the third quarter (Q3) of 2024. The rise in activity is largely attributed to Telegram’s ability to seamlessly integrate NFT transactions into its gaming ecosystem.

Based on the research, nine Telegram games attracted three million active wallets in September. Users were also transferring NFTs, and player interaction time increased. In early October, for example, the platform doubled its player interaction, partly ascribed to NFT usage.

Read More: 10 Best NFT Marketing Agencies To Promote Your Digital Art

Taken together, these developments reflect a broader trend of Web3 adoption on Telegram. This is as more users venture into decentralized assets, games, and digital ownership within the messaging app’s TON blockchain.

Meanwhile, the viral tap-to-earn game Hamster Kombat may take the spotlight again in Telegram’s expanding NFT ecosystem. The Web3 clicker game is planning to integrate NFTs as in-game assets in its upcoming second season, which is due to launch in November.

The game’s developers have also teased an intriguing new storyline. Players will be able to act as CEOs of their own companies, further gamifying the experience of owning and trading NFTs. This will go into effect as part of the clicker game’s roadmap for the remainder of 2024 and 2025.

Successes in these ventures would serve as prime examples of how Telegram’s games go beyond gameplay experiences. Rather, they integrate with Web3 mechanics, increasing their appeal among gaming enthusiasts and crypto investors.

Specifically, the addition of NFTs would add a layer of ownership and value to in-game items. This transforms traditional gaming models into Web3-powered economies where players can earn, trade, and collect valuable assets.

Read more: 7 Best NFT Marketplaces You Should Know in 2024

Meanwhile, it is impossible to ignore that the success rates of NFTs have also been put into question. As BeInCrypto reported, 96% of NFTs are considered dead, and holders of affected digital collectibles suffer losses. The challenges range from rug pulls to wash trading for fake demand.

The legal playing field around NFTs also remains unclear, making it risky for people thinking about entering the market. Hamster Kombat would have to navigate these hurdles to secure a competitive place within the NFT space.

PEPE price has been riding an uptrend recently, showing promising signs of bullish momentum. However, despite the optimistic outlook, the price has struggled to realize its full potential. 

Negative signals from key network indicators are also clouding the situation. These factors have led to uncertainty about whether PEPE can maintain its upward trajectory or face a correction in the coming days.

PEPE Exhibits Mixed Signals

One of the most concerning indicators for PEPE is the spiking NVT (Network Value to Transactions) ratio, which has reached a four-week high. A high NVT ratio typically suggests that the network is overvalued relative to the number of transactions taking place. 

This is often viewed as a bearish signal because it indicates that the price may not be supported by enough real-world activity on the network. With PEPE’s NVT ratio spiking, there’s a growing risk that its price could face downward pressure. This elevated NVT ratio could hinder PEPE’s ability to sustain its recent uptrend. 

Read more: Pepe: A Comprehensive Guide to What It Is and How It Works

On the technical side, PEPE’s momentum looks stronger. The Relative Strength Index (RSI), a key indicator of market sentiment, shows that the coin’s bullish momentum is picking up. 

After bouncing off the neutral 50 line, the RSI is now trending upward, which supports a potential price increase for PEPE. This suggests that despite some negative signals, the coin still has room to grow in the short term.

PEPE Price Prediction: Wait Ahead

PEPE has been in an uptrend over the last few weeks, but it is currently facing resistance at the $0.00001146 level. The meme coin has struggled to break through this barrier in the past, creating uncertainty about whether it can succeed this time. Overcoming this resistance is key to continuing its upward movement.

Despite the bullish momentum indicated by the RSI, the mixed signals from other indicators may keep PEPE subdued below the $0.00001146 mark. The coin has established an uptrend line as support, but if it loses this level, PEPE could fall to $0.00000839. This would represent a significant correction, reversing some of its recent gains.

Read more: Pepe (PEPE) Price Prediction 2024/2025/2030

However, should PEPE manage to breach the $0.00001146 resistance, it could rally towards $0.00001369, forming a new four-month high. This would invalidate the bearish-neutral outlook and reinforce the coin’s bullish trend, setting the stage for further growth in the weeks ahead.