**Telegram Teases NFT Conversion for Gifts Amid Launch**

Telegram CEO Pavel Durov has hinted at an upcoming feature that will allow users to convert their animated Gifts into NFTs. This announcement comes on the heels of Telegram's new Gifts feature, which lets users send animated images and custom messages to their contacts. These Gifts can be displayed on profiles or converted into the in-app currency, Stars.

Launched in June, Stars enable payments for digital services and support for creators. Durov revealed that limited-edition Gifts will soon be convertible into TON-based NFTs, allowing users to trade and auction them outside Telegram.

Despite Telegram's enthusiasm, the broader NFT market is experiencing a slump, with September seeing the lowest sales volume since January 2021. NFT transactions also dropped by 32% from August to September.