Telegram To Begin Auction Of Usernames Through TON Network

Telegram, a cloud-based instant messaging service, will begin the auction of usernames for both individual accounts and channels through its marketplace on the TON blockchain.

The messaging platform and TON blockchain are using a separate service, Fragment, to conduct the auction and its website will allow Telegram users to log in using the same credentials.

"As promised, we've launched the ability to buy Telegram usernames on a dedicated platform – Fragment. Auctions for the most valuable usernames are already live, so make sure to check it out. In a few days, we will also introduce the ability for users to sell their existing usernames on Fragment," Telegram Founder Pavel Durov said in a post.

The idea was first floated by Durov in August when he said the platform would add "a little bit of Web 3.0 to Telegram in the coming weeks." At the time, the messaging platform had successfully auctioned off 2,000 ".ton" usernames and Durov hinted at the possibility of enabling all its 700 million users to do the same.

"For the first time in the history of social media, a fair, transparent market for usernames is established," said Durov. "Finally people will have ownership over their social media addresses, secured in the immutable ledger of a decentralized blockchain network."

Back in 2018, Telegram had big ambitions to enter the world of crypto and blockchain. Despite backing from big fishes like Benchmark and Lightspeed Capital, who put in close to $1.7 million to the Telegram Open Network (TON) blockchain project, the U.S. Securities and Exchange Commission forced the messaging platform to close its blockchain initiative.

Thereafter, the TON project branched off into several blockchains, one of them being the TON blockchain. It received support from Durov, who has distanced himself from direct involvement in the project.