Messaging app Telegram will soon launch a platform where usernames will be put up for auction.
Telegram began researching blockchain technologies in 2018 under the name Telegram Open Network. Raising $1.7 billion in the private sale of TON tokens that year, the company abandoned the project in 2020 under pressure from regulators. Continuing to work on the project, the developers rebranded it as fully operational The Open Network this year. The burgeoning company announced its new venture.
Telegram to Auction Usernames
Telegram announced on an official channel that the messaging app will soon launch a username auction platform on The Open Network (TON) blockchain network.
Paying for usernames is not a new trend. Over half a million people pay for usernames on Ethereum through the Ethereum Name Service (ENS). Username is an important issue not only in the Web3 world, but also on platforms such as Twitter and Instagram.
Other elements in the Telegram ecosystem, including channels, stickers or emojis, are expected to become part of this market later on.
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