Telegram Is Set To Auction Usernames On TON Blockchain
- Telegram has officially announced that it will auction usernames on the TON blockchain, an idea which was initially floated by Telegram founder Pavel Durov in August this year.
- The new platform would allow username holders to transfer them to interested parties in protected deals – with ownership secured on the blockchain via NFT-like smart-contracts.
- Telegram also introduced P2P Market recently which supports over six different fiat currencies: USD, EUR, RUB, UAH, BYN and KZT. Each of them offers its own payment methods.
Telegram, one of the most prominent social media applications, which has been used by crypto projects for communicating with their users, has officially announced that it will auction usernames on the TON blockchain, an ecosystem with the aim of giving rise to a genuine Web3.0 Internet with decentralized storage, anonymous network, DNS, instant payments, and various decentralized services.
This idea was initially floated by Telegram founder Pavel Durov and was confirmed via an official Telegram channel on October 21. Currently, the social media messaging application has over 700 million plus uses and the new auction features was under development for quite some time. Finall, the feature will now be rolled out and users can enjoy their new usernames which they can buy soon.
“The development phase is almost over, and the auction platform will be launched soon. Make sure you don’t miss your chance to acquire the most valuable usernames and secure your ownership of them in the TON blockchain’s immutable ledger,”
said the announcement from Telegram.
The first time Durov pointed out that the platform has a goal of building a platform for auctioning of usernames was in August wherein he stated that goal will be to create “a new platform where username holders could transfer them to interested parties in protected deals – with ownership secured on the blockchain via [non-fungible token]-like smart contracts.”
Durov also revealed in August that this new platform would allow username holders to transfer them to interested parties in protected deals – with ownership secured on the blockchain via NFT-like smart-contracts. He stated that “channels, stickers or emoji, could later also become part of this marketplace.”
“When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales. Our team can write bullet-proof smart contracts for TON (since it was us who invented its smart-contract language), so we are inclined to try out TON as the underlying blockchain for our future marketplace,
Durov stated in August.
Interestingly, Telegram has been making strong moves to confirm its entry into the world of crypto and recently, the firm announced that it will roll out a P2P Market. This new feature allowed people to create advertisements for their cryptocurrencies along with the rates which would then allow interested parties to transact with each other. While this is pretty late, TON aims to capitalize on its 700 million users.
Additionally, it was confirmed that the P2P Market will currently support over six different fiat currencies: USD, EUR, RUB, UAH, BYN and KZT. Each of them offers its own payment methods.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
