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Telegram launches marketplace to auction rare username handles

Telegram launches marketplace to auction rare username handles

The popular messaging application Telegram announced on October 26 the official launch of its new marketplace based on the Telegram Open Network (TON) blockchain. The marketplace will serve as an auction platform where rare Telegram tokens are up for grabs. The idea was first mentioned on app founder Pavel Durov’s Telegram channel in August after the TON Foundation successfully auctioned off TON’s DNS domains. Be available to all users.

The auction will run for a week, with the reserve price for a four-digit identifier likely set at 10,000 Toncoin, the native token of the TON blockchain. Individual Telegram users also have the option to auction their usernames. Depending on the listing, owners of a particular ticket will have the ability to move and resell their purchase across multiple marketplaces at will.

Andrew Rogozov, a founding member of the TON Foundation, believes this development will help accelerate blockchain adoption.

“For the first time, social network users can prove that they own their identifiers transparently.”

CZ was referring to a question he was asked in Saudi Arabia, where he was attending a conference, about whether he would maintain a financial commitment to Musk.

Telegram has a large user base within the combined Web3 and crypto community and has been actively working to integrate Web3 capabilities into its operations. The company first announced the development of the TON blockchain in 2018. However, it had to part with the project due to a difficult court case in 2020 with the US Securities and Exchange Commission.

It then reappeared as the TON Foundation and gained momentum again in Room. In April 2022, the Telegram wallet bot allowed its users to send in-app crypto over the TON blockchain.

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