Pavel Durov, the founder and CEO of the messaging app Telegram, has come up with the clever idea of making a marketplace that auctions off popular “usernames” using NFT-like links or smart contracts.

Durov also said in his Telegram channel, “Other parts of the Telegram ecosystem, like channels, stickers, and emoji, could become part of this marketplace in the future.”

Durov also said that TON probably has the “best technology” for hosting decentralized auctions in terms of scalability and speed. He also said that the Telegram team can write smart contracts for TON that can’t be broken because the team came up with the language for smart contracts.

Durov said that because of these reasons, the team wants to use TON as the blockchain for Telegram’s future marketplace, and Telegram can also look forward to a “little bit of Web3” in the future.

The innovative idea comes after Telegram’s team created a layer-1 blockchain called “The Open Network” (TON), whose domain name auctions were a huge hit.

Durov said that the domain name Wallet.ton sold for 215,250 Toncoin, which is about $260,000. The domain name casino.ton sold for about $244,000.

In mid-July, the blockchain project launched a TON DNS service that lets users give crypto wallets, smart contracts, and websites names that people can understand.

The first sale on TON DNS started on July 30, and just like the Ethereum Name Service (ENS) “.eth” domains, the “.ton” domains make it easy for users to access decentralized applications without having to type in a long string of letters and numbers from their wallet addresses.

TON was first made as a way for Telegram users to make digital payments, but in 2019, it got into a dispute with the U.S. Securities and Exchange Commission (SEC) over an unregistered sale of $1.7 billion worth of Gram tokens.

CoinMarketCap says that the TON network’s native token, Toncoin (TON), has gone up 15.15 percent in the last 24 hours and is now worth $1.31 at the time of this writing.

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