Telegram founder offers NFT-based username system for his 700,000,000 users

The founder and CEO of cross-platform messaging service Telegram offers a blockchain-based marketplace for usernames and addresses used on the messaging app.

Pavel Durov said on his Telegram channel that the idea is inspired by the success of a domain name and portfolio auction conducted by The Open Network (TON) blockchain.

According to the CEO of Telegram, Telegram should be more successful with a market for highly sought-after usernames and addresses given its large user base.

“If TON was able to achieve these results, imagine how successful Telegram could be with its 700 million users if we auctioned off reserved @usernames, group and channel links. In addition to the millions of catchy addresses like @storm or @royal, all four letter usernames could be up for sale (@bank, @club, @game, @gift etc).

The Open Network (TON) blockchain was designed by the founders of Telegram, Pavel Durov and Nikolai Durov. The token is currently being developed by the TON Foundation, which is an open-source developer community.

Durov says the envisioned platform for auctioning Telegram usernames and addresses would allow digital properties to be traded in the same way as non-fungible tokens (NFTs).

“It would create a new platform where holders of usernames could transfer them to interested parties in protected agreements – with secure ownership on the blockchain via NFT-like smart contracts. Other elements of the Telegram ecosystem, including channels, stickers or emoji, could also be part of this market later.

According to Durov, The Open Network is the best-suited blockchain to host the proposed Telegram marketplace, as it enjoys advantages in key performance metrics.

“When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales. Our team can write bulletproof smart contracts for TON (since we’re the ones who invented its smart contract language), so we are keen to try TON as the underlying blockchain for our future market.

Let’s see if we can add some Web 3.0 to Telegram in the coming weeks.

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Feature Image: Shutterstock/YanaBu/Nikelser Kate