Digital companies are starting to see the benefits that Web3, NFTs, and user-led digital marketplaces might bring to their operations. Pavel Durov, CEO of Telegram, one of the most popular messaging services linked to crypto, recently hinted at the integration of some Web3 services into the platform.
Durov investigated the success of a recent TON network domain name auction in which more than 2,000 domains were bought and sold for as much as $260,000. However, due to a restraining order request from the U.S. Securities and Exchange Commission (SEC) for selling allegedly unregistered securities, Telegram discontinued TON in 2020.
He said, “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.”
He also talked about the benefits that tradable usernames and channel links might have in the future, creating a marketplace where users could use them in the same way Ethereum Name Service addresses are utilized.
“Users who presently own Telegram usernames would be able to sell them to interested parties and get paid for them in the same manner as the establishment of a Web3 marketplace can sell an NFT.”
This might also extend to group names, whose identities could be bought by companies or interested third parties. Also, sticker packs and emojis might be included in this proposed marketplace.
Durov explained that this initiative could be built on top of the TON network quickly, as the company already has the knowledge of the smart contracts structure of the system, given that it was originally designed by Telegram.
Durov explained, “When it comes to scalability and speed, TON probably has the best technology to host a such decentralized sale, we are inclined to try out TON as the underlying blockchain for our future marketplace.”
Durov hinted that this update would be coming in the next several weeks, but he did not provide further information. However, users have had the option to transmit toncoin, the currency of the TON network, via chat since last May thanks to Telegram’s integration of TON into its platform.