Digital companies are beginning to witness the benefits Web3, NFTs, and digital marketplaces led by users could bring to their operations. Pavel Durov, the CEO of Telegram, one of the most famous messaging services associated with crypto, gave hints on integrating a few Web3 services into their messaging platform.
Durov hints at a series of Web3 upgrades to the famous messaging platform. He spoke about the advantages that tradable usernames and channel links could have in the future, making a marketplace where users may use them the same way Ethereum Name Service addresses are used.
He observed the success of a recent auction of the domain name on the TON network, where above 2,000 domains were sold for prices as huge as $260,000. TON is the platform Telegram let go in 2020 because of a restraining order petitioned by the U.S. Securities and Exchange Commission (SEC) to sell reported securities that are unregistered.
“If TON has been able to achieve these results, imagine how successful Telegram, with its 700 million users, could be if we put reserved @ usernames, group, and channel links for auction,” Durov stated.
In the auction, as mentioned above, domains like bank.ton and casino.ton were sold for high prices, too.
Creating a Web3 marketplace lets users that presently own Telegram usernames sell these to interested third parties and accept payments for the digital property, similar to how an NFT is sold. This can also go on to group names, whose identities might be bought by companies or interested third parties. Plus, this proposed marketplace might include packs of stickers and emojis.
Durov explained that this initiative could be built on top of the TON network quickly, as the company already knows the system’s smart contracts structure, given that it was originally designed by Telegram. About this possibility, “When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales … we are inclined to try out TON as the underlying blockchain for our future marketplace,” Durov explained.
While Durov didn’t provide more details on the subject, he stated that this update could arrive in the next few weeks. Telegram has already done the TON integration on its platform, with users possibly sending toncoin, the TON network’s currency, through chat.
For more updates, Follow the Crypto Trader Pros news section.