Founder of Telegram, the global instant messaging app with over 700 million users, has expressed interest in adding more Web 3.0 features to the platform. Founded by Pavel Durov in 2013 the messaging service prides itself on advanced security and privacy. It supports group chat functionality that is popular for blockchain and crypto community channels.
In his personal account, Durov mentions the possibility of putting usernames in Telegram up for auction in a potential marketplace. The ownership of these usernames would be protected in NFT-like smart contracts on the blockchain. These usernames could then be transferred securely to interested parties.
Success of TON domain name auction
The Open Network (TON) Foundation is the latest cryptocurrency company to upgrade its ecosystem with Ethereum Name Service (ENS)-like domain names. The TON Foundation on Thursday announced the launch of TON DNS.
Following the TON blockchain’s integration with mobile telegram bots this year, the foundation held an auction for .ton domain names. The .ton domain names unlock a wallet address and are used as nicknames in the TON ecosystem. The TON foundation also plans to add increased utility to the domains.
The auction took place on July 31. The Founder of Telegram was impressed with the success of the auction stating “I’m really impressed by the success of the auction (https://t.me/toncoin/522) TON recently conducted for their domain/wallet names. Wallet.ton was sold for 215,250 Toncoin (~$260000) while casino.ton was sold for ~$244000.”
Creative uses of NFT technology
More brands and platforms are exploring advanced features of NFT technology and ways to incorporate NFTs into their existing growth strategies. Using NFTs as avatars have quickly taken off as more NFT collectors showcase their affiliation to collections and pride in their NFTs.
Holding domains, avatars, and names as NFTs will evolve further in terms of built-in functionality, utility, and brand equity. It is no longer just about the status of an NFT project but also concerns future potential and investment in the longer term.