• The favored messaging app has nearly launched Telegram Username Public sale Market, a brand new market that doesn’t require nonfungible tokens (NFTs).
  • In keeping with the corporate’s Telegram channel, {the marketplace}’s improvement section is approaching completion.
  • Telegram’s founder Pavel Durov launched the thought in late August this yr when he envisioned a market that will make the most of “NFT-like good contracts” to public sale off extremely sought-after usernames.

Telegram, the favored messaging service, has created Telegram Username Public sale Market, which doesn’t use nonfungible tokens (NFTs). The social messaging platform introduced plans to develop a market for auctioning off distinctive identities for social networks, an idea initially mentioned in August.

Telegram Username Auction Marketplace Is Almost Here
Telegram Username Public sale Market was initially mentioned in August

Delivery of the Telegram Username Public sale Market

The corporate stated on its Telegram channel that {the marketplace}’s improvement section is nearing completion. The Open Network (TON), {the marketplace}’s native blockchain, serves as its basis.

Telegram Username Auction Marketplace Is Almost Here
The service gained’t be utilizing NFTs

The idea was initially floated by agency founder Pavel Durov in late August this yr when he proposed a market that will make use of “NFT-like good contracts” to public sale off extremely sought-after usernames. The notion got here from Durov following the “success” of area identify auctions by The Open Community (TON), a layer-1 blockchain created by the Telegram staff.


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Durov said on the time {that a} new market the place username holders might switch them to events in secure transactions — with possession secured on the blockchain utilizing NFT-like good contracts — would possibly turn out to be a preferred function on Web3. He additionally talked about that further elements of the Telegram ecosystem, resembling channels, stickers, or emojis, might turn out to be a part of this market sooner or later.

Telegram Username Auction Marketplace Is Almost Here
Pavel Durov backed down from the undertaking to give attention to the Telegram app itself

Telegram started its Web3 and crypto enterprise aspiring to develop a digital funds mechanism for Telegram. Nonetheless, Telegram, like many different platforms from the preliminary coin providing (ICO) interval, confronted issue with US regulators for the unregistered sale of its Gram token.

After dropping a authorized battle in opposition to the US Securities and Change Fee in 2020, Durov pulled away from the undertaking to give attention to Telegram. Since then, open-source programmers have resurrected the undertaking below the guise of The Open Community.


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