July 23, 2024
Chicago 12, Melborne City, USA
Blockchain News

CEO of Telegram Pavel Durov Teases Integration with Web 3

The advantages that Web3, NFTs, and user-led digital markets may have for their business operations are beginning to be recognized by digital firms. A few Web3 services may be incorporated into the platform, according to Pavel Durov, CEO of Telegram, one of the most well-known messaging applications related to cryptocurrencies.

Durov looked into the outcome 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. 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.

Domains like bank.ton and casino.ton were also sold for hefty sums of money in the aforementioned auction.

Built On TON

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 an NFT can be sold by the establishment of a Web3 marketplace. This may also apply to group names, whose identities may be purchased by businesses or other interested parties. Additionally, this suggested market may incorporate sticker sheets and emoticons.

Given that the Telegram system was originally designed, Durov noted that this initiative could be easily constructed on top of the TON network because the company already has an understanding of the system’s smart contracts structure.

Durov hinted that this update would be coming in the next several weeks, but he did not provide any further information. 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.

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