Telegram is launching an auction market on the TON chain! Username, group link can be auctioned

The TON Foundation launched the domain name and wallet name service “TON DNS” in July this year, and auctioned the first batch of “.ton” domain names, of which “wallet.ton” was sold at a high price of 260,000 US dollars, and “Casino.ton” was sold at 24.4 The $10,000 sale surprised Telegram founder and CEO Pavel Durov, who even revealed that he plans to launch an auction market for usernames, groups and channel links in the short term.

The TON blockchain was originally developed by Telegram, but then ran into regulatory issues, and Pavel Durov and Telegram were forced to abandon the project in favor of a community development team. However, Pavel Durov publicly expressed his support for TON at the end of last year; the TON Foundation was established to be responsible for promoting the application of ecological projects.

Telegram may launch a new platform that allows users to secure ownership of usernames through “NFT-like smart contracts” and transfer them to others in protected transactions, Pavel Durov wrote on its official channel on Monday. Hope to use this to re-integrate some Web 3.0 elements for Telegram.

Pavel Durov writes,

Imagine how successful Telegram, with its 700 million users, would be if we auctioned off reserved usernames, groups, and channel links. All four-letter usernames are for sale, except for millions of attractive addresses like @storm or @royal.

Pavel Durov continued that other elements of the Telegram ecosystem, such as channels, stickers or emojis, may become part of this market in the future.

He also revealed that Telegram intends to use TON as the underlying blockchain for the new platform, citing the fact that TON has the best technology in terms of scalability and speed to host such a decentralized sale.

After Pavel Durov announced the above news, the price of the TON token rose, reaching $1.33 at the time of publication, an increase of 15.83% in the past 24 hours.