Breaking: Telegram Announces TON-Based Username Auction Marketplace, Price Jumps

Varinder Singh
October 21, 2022
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Messaging platform Telegram on Friday announced the marketplace for offering unique names is almost completed and the domain name auctions would launch soon. Telegram is collaborating with the TON blockchain to offer usernames. As a result, Toncoin (TON) price jumps nearly 12% in the last 24 hours.

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Telegram Collaborates With TON Blockchain for Offering Unique Usernames

In a tweet on October 21, TON blockchain announced the collaboration with messaging platform Telegram on a marketplace to auction unique usernames.

“The official Telegram Usernames channel announced that the marketplace’s development had been completed and that domain name auctions would launch shortly.”

Pavel Durov, founder and CEO of Telegram, announced the idea to offer unique and recognizable Telegram usernames a few weeks ago. It will allow users to buy and sell unique usernames on the TON blockchain-based marketplace.

According to Telegram Usernames, the development phase is already completed and the auction platform will be live soon. It recommends users to acquire the most valuable usernames and secure ownership of them in the TON blockchain’s immutable ledger.

Recently, TON conducted an auction for the domain/wallet names. Wallet.ton was sold for 215,250 Toncoin worth around $260K, whereas casino.ton was sold for nearly $244K.

Pavel Durov believes Telegram will be able to achieve better results due to its 700 million users. He aims to auction usernames, groups, and channel links. Moreover, the plan involves making addresses like @storm or @royal, as well as all four-letter usernames such as @bank, @club, @game, and @gift available for sale.

“Let’s see if we can add a little bit of Web 3.0 to Telegram in the coming weeks.”

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Toncoin (TON) Price Skyrockets

As a result of the announcement, Toncoin (TON) price jumps over 12% in the last 24 hours. The 24-hour low and high are $1.24 and $1.40, respectively. At the time of writing, the TON price is trading at $1.37.

The trading volume has also jumped over 380%. It indicates an increase in traders’ interest as Telegram aims to reserve and auction special usernames. Telegram recently announced TON based feature which allows users to directly buy and sell cryptocurrency to others.

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.