Telegram Founder Hints Marketplace for Address Auctions

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by John K. Kumi · 3 min read
Telegram Founder Hints Marketplace for Address Auctions
Photo: Depositphotos

According to Durov, Telegram could have a huge success by integrating some features of Web3 to auction off “@ usernames, group, and channel links.”

Pavel Durov, co-founder and CEO of Telegram, an “accessible freemium, cross-platform, cloud-based instant messaging (IM) service”, has in the latest statement hinted that he is planning to launch a marketplace. According to him, this space can be used to auction addresses. Durov further explained in a message posted on Telegram that users would be able to transfer usernames through NFT-like smart contracts. He also disclosed that they could take advantage of the millions of users on Telegram to push the project.

“Imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group, and channel links for auction. In addition to millions of catchy addresses like @storm or @royal, all four-letter usernames could be made available for sale,” he said.

In the message, he referred to his previous auctioned wallet domain names on The Open Network. However, regulatory concerns from the US Securities and Exchange Commission (SEC) forced him to abandon the project.

On the new platform, some of the usernames can be transferred to interested parties in a deal where ownership is secured on the blockchain. Also, the platform would have some elements of Telegram including emojis or stickers, and channels integrated into it.

“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,” he added.

According to Durov, Telegram could have a huge success by integrating into its marketplace some features of Web3 to auction off “@ usernames, group, and channel links.”

After leaving TON last year, Durov mentioned that he has always kept hope alive to see the next generation of developers executing his vision of the mass-market blockchain platform.

Recently, TON auctioned its domain names/wallets with Wallet.ton sold for 215,250 Toncoin ($260,000). Also, casino.ton was sold for $244,000. According to Durov, this is very impressive.

In response, investors reacted swiftly, sending the TON price up by 15% after Derov sent the message. With a market cap of $1.6 billion, the asset is currently trading at $1.3. Its 24-hour performance stands tall among the leading digital assets with Solana (SOL) still down by 2% over the same period. Bitcoin (BTC) and others are still struggling to hold their value after a mini pullback in the broad market.

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John K. Kumi
Author John K. Kumi

Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.

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