Telegram CEO Pavel Durov plans to implement NFT domain auctions on the social platform.
Telegram could implement a system of Blockchain auctions for NFT domainsThis was stated by Pavel Durov, CEO of the platform, on his Telegram channel, which currently has more than 615.000 users.
Durov's proposal is that Sell usernames and channel names, in NFT format, through an auction system on blockchain, using the TON blockchain, initially developed by the creators of Telegram, but now in the hands of The Open Network.
For Durov, the implementation of this concept would allow the creation of a new platform where users can sell their usernames or channel names to other users who are interested in obtaining them.
Furthermore, since it is an auction system built on blockchain, The ownership of these NFTs would be verifiable through a series of smart contracts. In addition, the TON blockchain was developed with scalability, speed, and performance in mind, making it an ideal blockchain for this type of functionality, especially if the NFT auctions end up being adopted on a large scale by the platform's users.
Domain Auctions on TON
The idea proposed by Pavel Durov for Telegram follows the line established by the developers of the TON blockchain (The Open Network), where they have held a series of domain name auctions.
Recently, TON has held a series of auctions for 2.000 “.ton” domains which have generated 2,4 million Toncoin, worth approximately $1,46 each (at the time of writing).
The auction has been especially beneficial for some names, such as “wallet.ton” which has been sold for 215.250 TON, followed by “casino.ton” which sold for 200.000 TON and “bank.ton” which fetched 157.500 TON.
Telegram's CEO wants to replicate the success of the auctions he has held on his blockchain on Telegram, a network that has 700 million users, which could start selling and buying usernames, group names, and channel names, generating new forms of monetization.
Furthermore, if the idea is implemented correctly and works, the CEO of Telegram plans to Turning emojis and stickers into NFTs, so that they can also be bought and sold through this auction system.
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