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Pavel Durov, the CEO of Telegram, has suggested that platform identities and channel connections be sold as NFTs. Durov indicated that millions of reserved Telegram addresses might be auctioned off as assets on the blockchain in a post on Monday to his Telegram channel, which has 651,000 users.
With ownership safeguarded on the blockchain by NFT-like smart contracts, he added, "this would establish a new marketplace where username holders may transfer them to interested parties in protected trades."
Durov claimed that the recent sale of more than 2,000 .ton domain names by The Open Network (TON) was his inspiration. At the time of writing, each Toncoin sells for $1.29, so the total sale of 2,392,002 Toncoins generated about $3 million.
Wallet.ton was the most profitable name in the auction, selling for 215,250 Toncoin. Casino.ton and Bank.ton, the runner-up domain names, went for 200,000 and 157,500 Toncoin, respectively.
“Imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group, and channel links up for sale, the CEO claimed if TON was able to achieve these outcomes. “All four-letter usernames (@bank, @club, @game, @gift, etc.) might be made available for purchase in addition to the millions of memorable t.me addresses like @storm or @royal.”
“Other Telegram ecosystem components, such as channels, stickers, or emoji, could afterward also become a part of this marketplace,” the statement reads.
The Open Network (TON) was initially created by Telegram, but in June 2020, community members took over the management of the blockchain. As part of a settlement agreement with the Securities and Exchange Commission (SEC), which filed a lawsuit against Telegram for allegedly executing an unregistered securities sale for $1.7 billion in the form of GRAM tokens, the company was required to give up ownership.
However, Telegram continues to be intimately associated with the TON blockchain. The app enables users to exchange Toncoin directly through bots that automate platform tasks. Even though Telegram permits these bots, it doesn’t always support them.
Given its scalability and speed, Durov asserts that employing TON for its auction scheme would be ideal. Additionally, he is sure that because the business created the network’s programming language, it can create “bullet-proof” smart contracts for it.
In the upcoming weeks, “let’s see if we can add a little bit of Web 3.0 to Telegram,” he said.