Telegram, a popular messaging application, successfully launched a new market that will be built on the Telegram Open Network (TON) blockchain to function as an auction platform.
The following idea was actually presented by the founder of the application, Pavel Durov since August, right after the TON Foundation auctioned the TON DNS domain.
The string, Telegram for the first time provides a username auction starting with four to five letters that will last for a week.
Therefore, the minimum price for a four-letter username is likely to be set at 10,000 Toncoins (TON).
In fact, Telegram users are also allowed to auction their own usernames by having the option of whether to transfer or sell their purchases on certain markets.
According to Andrew Rogozov, a founding member of the TON Foundation, the development is able to further accelerate the use of blockchain.
Explained, Telegram is trying to incorporate Web3 features into its operations by having many users delve into Web3 and crypto.
In context, the company inaugurated the TON blockchain development project in 2018, but the project came to an end when there was a court debate between the United States Securities and Exchange Commission (SEC) regarding a $1.7 billion token offering.
Nevertheless, Telegram resumed the Ton Foundation after the Telegram wallet Bot allowed its users to send crypto in-app via the TON blockchain.
