Popular messaging app Telegram announced on Oct. 26 the official launch of a new marketplace built on the Telegram Open Network (TON) blockchain that will serve as an auction platform to bid on usernames. rare
The idea was first mentioned in August on the app founder Pavel Durov’s Telegram channel, after the TON Foundation successfully auctioned off the TON DNS domain.
Telegram will begin with a four- and five-character reference number auction. This will be the first time all users will have access to the shortened reference number. The auction will last one week. The minimum price for four characters should be set at 10,000 Toncoin, the original token of the TON blockchain.
Individual Telegram users will be able to bid on their username. which according to the announcement Owners will have the option to move and resell their purchases in different markets as needed.
Andrew Rogozov, a founding member of the TON Foundation, believes the development will accelerate blockchain adoption, “for the first time ever social media users will be able to clearly prove that they truly own it.”
Telegram has a large user base within the combined Web3 and crypto community, and has put a lot of effort into integrating Web3 features.
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