Telegram launches username auction with TON Blockchain

The Telegram messenger team has announced the launch of a blockchain platform for the sale of username identifiers based on the Telegram Open Network (TON) blockchain. According to Telegram founder Pavel Durov, users will be able to buy and sell names on the Fragment platform, where auctions will be held.

The minimum cost of a nickname consisting of 4−5 characters will be 126 TON ($ 200). The most expensive lots at the moment include: «bank,» «casino,» and «auto,» with a minimum bid of 30,000 TON ($ 47,619). According to the messenger’s representatives, the initial cost of each username will decrease if no one bids higher than the minimum within 24 hours.

«For the first time in the history of social networks, a fair and transparent market for usernames has been created. Finally, people will have ownership of their social media addresses, protected in the immutable Ledger of a decentralized blockchain network,» Pavel Durov wrote on his Telegram channel.

Fragment developers hope to repeat the success of the TON wallet address auction. In August, Durov said that he was inspired by the achievements of the auction, where buyers were offered domain names and «.ton» wallets. Thus, Wallet. ton was sold for about $ 260,000, and casino. ton — for $ 244,000.