Telegram founder proposes NFT-like auctions. Telegram to go Web3?

Telegram founder
TL;DR Breakdown
  • Telegram founder proposes NFT-like auctions
  • Durov wants to auction popular usernames
  • Telegram records success in its TON DNS auction

Telegram founder Pavel Durov has announced that he is currently considering the idea of a marketplace on the platform. The messaging platform has been one of the most sought-after in the last few years. Asides from the ease of access, Telegram boasts a few other qualities, including encryption of messages between users. In the statement, Durov mentioned that the platform could embrace the NFT culture of using smart contracts to auction out popular usernames sought after by users.

The Telegram founder wants to auction popular names

The Telegram founder mentioned the change after the platform’s recent success at the domain name auctions. The blockchain is a chain built and operated by the Telegram developers. The new services enable users to edit and change the names of their wallets and other things like smart contracts to readable names. Following the event’s conclusion, Durov mentioned that he was delighted at how the TON DNS auction went.

In the statement culled off his private group on the platform, he highlighted the success that the platform would enjoy if they were to auction out reserved names or group links on the platform. He also mentioned that the platform could look into rolling out its marketplace to sell popular usernames. In his example, he gave catchy four-letter worded usernames like storm.

Telegram records success in its TON DNS auction

Durov mentioned that the marketplace would function like a usual NFT marketplace where users interested in buying these popular usernames can purchase from a seller via a protected smart contract. He added that along the line, the company could decide to extend these services to other aspects of the platform, including stickers and the likes. The event’s first stage took place some months ago, where users were allowed to add the suffix to their names instead of typing the usual long alphanumeric combination for their wallets.

TON was created to act as a payment section for the messaging platform. However, they were forced to abandon the project after a few tussles with authorities. Since the lawsuit, the company has used it under its new name. The TON network supports various aspects of the crypto sector, such as staking, dApps, and the likes. Although the Telegram founder had abandoned the project to continue building Telegram at the time, this new network is gradually taking shape after its revival.

Owotunse Adebayo

Owotunse Adebayo

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.

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