Telegram Username Auction Platform Is About To Launch

The messaging app Telegram will soon introduce a username auction platform on The Open Network (TON) blockchain, according to a corporate announcement on Thursday.

Telegram creator Pavel Durov announced the concept in August, citing the success of a recent TON auction for their wallet usernames as motivation. Some, like casino.ton, fetched more than $200,000.

In 2018, Telegram began investigating blockchain possibilities and developing the Telegram Open Network. Later that year, in a private sale of TON tokens, it raised $1.7 billion.

The US Securities and Exchange Commission accused Telegram of executing an unregistered securities offering and sued it in October 2019. Telegram abandoned the project in 2020 due to regulatory pressure.

The project was still being worked on by open-source developers. It was renamed The Open Network in 2022, with a live, fully working mainnet.

Paying for usernames isn’t a new concept. According to Non Fungible’s market tracker, over 500,000 users have paid for Ethereum usernames via the Ethereum Name Service (ENS).

It’s also not simply a Web3 phenomenon. It’s getting increasingly difficult to secure the desired username on sites like Twitter and Instagram, and some individuals are going to tremendous measures to do so. Online tips and techniques range from asking platforms to transfer abandoned accounts to sophisticated copyright schemes.

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