The founder and CEO of messaging app, Telegram, Pavel Durov, has come up with an innovative idea of creating a marketplace that uses NFT-like links or smart contracts to auction sought-after ‘usernames’.
Durov further wrote in his Telegram channel, “Other elements of the Telegram ecosystem, including channels, stickers or emoji, could later also become part of this marketplace.”
Durov added that considering scalability and speed, TON probably has the ‘best technology’ to host decentralized auctions. He further said that the Telegram team can write bullet-proof smart contracts for TON because it was the team itself that invented its smart-contract language.
Citing the above reasons, Durov concluded that the team is interested to utilize TON as the underlying blockchain for Telegram’s future marketplace and Telegram too can expect a ‘little bit of Web3’ itself in future.
The innovative proposal comes after Telegram’s team designed a layer-1 blockchain ‘The Open Network’ (TON) which witnessed a soaring success with its domain name auctions.
As per Durov, the domain name, Wallet.ton was sold for 215,250 Toncoin (~$260000) while casino.ton was sold for ~$244000.
The blockchain project started a TON DNS service for users to give human-readable names to crypto wallets, smart contracts, and websites in mid-July.
The first sale on TON DNS was live on July 30, and just like the Ethereum Name Service (ENS) “.eth” domains, the “.ton” helps users to access decentralized applications in an easy way without having to insert a long-string of letters and numbers from their wallet addresses.
TON was initially developed as a digital payments platform for Telegram, but in 2019, it was caught in a controversy with the U.S. Securities and Exchange Commission (SEC) due to an unregistered preliminary sale of $1.7 billion worth of Gram tokens.
According to data from CoinMarketCap, TON network’s native token, Toncoin (TON) has pumped 15.15% over the past 24 hours and is at $1.31 at the time of writing.
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