Telegram Launches Username Auction Platform

Telegram, the popular messaging app, announced the formal launch of its new marketplace built on the Telegram Open Network (TON) blockchain on October 26. The marketplace will function as an auction site, with unusual Telegram handles for sale.

The notion was initially proposed in August on app inventor Pavel Durov’s Telegram channel following the successful auction of TON DNS domains by the TON Foundation.

Individual Telegram users will be able to sell off their own usernames as well. According to the release, owners of a certain handle would be able to move and resell their buy across several marketplaces as wanted.

Andrew Rogozov, a TON Foundation founding member, feels this discovery will assist expedite blockchain adoption:

“For the first time, social media users will be able to transparently prove that they own their handles thanks to their tokenisation on the TON blockchain.”

Telegram and the TON Foundation are hosting these auctions on a different website (Fragment.com). Users may access the site through Telegram, the Tonkeeper app, or their TON-based wallets. The website will also assist users in linking their accounts to the handles they have purchased.

At the start, the chat app will auction off four- and five-character handles that will be available to all users. The users may also sell off their current handles. Each handle auction will last a week, with an extra hour for final bidding. The company has established a minimum auction value of 10,000 toncoins for four-character handles.

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