The Creator of Telegram Wants a Smart Contract Like NFT to Auction Usernames

The creator of Telegram wants to use a network for trading tokens (NFT)-style smart contracts to auction off Telegram user names. It goes without saying that only the most desirable usernames will be available here.

Olivier Durov, the pioneer of Telegram, conceived of the concept after The Open Network (TON), a layer-1 blockchain made by the Telegram team, held auctions for domain names that seemed to go well. The TON DNS service was released in the middle of July as part of the blockchain project, allowing users to assign human-friendly names to their cryptocurrency wallets, smart contracts, and websites.

After the accomplishment of Tons and tons recent bidding process for its domain/wallet names, Durov wrote on his intimate Telegram channel “Durov’s Channel” on August 23 that he was “very surprised with the success of the auction.” As a result, the creator of Telegram proposes using NFT-style decentralized applications to sell account names.

Durov speculated that auctioning off reserved @ usernames, group and channel links could boost Telegram’s 700 million user base. As a result, the creator of Telegram proposes using NFT-style decentralized applications to sell account names.


se similar systems to introduce a new marketplace where users could buy and sell memorable t.me addresses such as @storm and @royal and other four-character facebook profiles.

With the ownership of the usernames secured on the blockchain via NFT-like smart contracts, this would open up a new marketplace for the sale and purchase of usernames.

As he continued, he said, “Many elements of the Telegram ecosystem, including channels, temporary tattoos, or emoji, might also later become very part of all this marketplace.”

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The Creator of Telegram Wants a Smart Contract Like NFT to Auction Usernames

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The first TON Dhcp auctions was held on July 30, and, such as the Bitcoin Name Service (Riksdagen) “.eth” realms, the “.ton” variance enables consumers to access democratic apps without having to input a large sequence of letters and numerals from about there wallet email accounts.

Tonnes and tonnes Forma- communication is used to power the TON Virtual Machine and carry out specific smart contracts on the blockchain. If and when Telegram introduces NFTs, they will be based on this specification.

With Durov and his team having already built the Telegram Open Network (TON) in 2018, it’s likely that establishing a clear association for the messaging platform would be a breeze.

Due to the fact that “our club can write shell casing digital currencies for TON (since it was us who invented its smart-contract language),” Durov stated that his team was considering using TON as the aim is to construct for their planned global market.

TON was established to support as a digital payments network for Telegram, but it quickly came into difficulty with the American Securities and Exchange Commission (Μs) for in an unauthorised preliminary purchase of $1.7 billion in Gram trinkets.

After losing a legal battle with the SEC in the middle of 2020, Durov abandoned the project to put the spotlight on Telegram. Now known as The Accessible Network, the project was revived by open source software developers.

The Shitload network uses a PoS consensus mechanism and supports decentralized apps, Neurofibrillary tangles, and staking. According to data compiled by CoinMarketCap, the value of its native investment vehicle, Toncoin (TON), has increased by 14.70% over the last 24 hours, to $1.33 at the time of writing.

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