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Telegram to integrate web3, launch NFT market

Telegram to integrate web3, launch NFT market

The founder of Telegram, Pavel Durov, has revealed plans to launch an NFT market as the company aims to integrate Web3 into the messaging app.

According to TechCrunch, Durove said this on his Telegram channel on Monday adding that he was impressed by an independent Telegram Network project, especially how it is used for domain name/wallet auctions.

He added that Telegram can put custom usernames, groups, and channel links on the auction on blockchain just like NFTs to replicate TON’s auction on the app

If Telegram goes ahead with it, the custom link NFTs could be another way to earn revenue apart from ads and subscription services.

Durove also mentioned that the company is “inclined to try out TON” as a blockchain of choice for Telegram given its familiarity with the technology.

The chat app already allows users to send toncoin to each other directly within the app. So an NFT marketplace based on that seems like a probable next step for web3 integration.

The Telegram founder said, “I’m really impressed by the success of the auction TON recently conducted for their domain/wallet names. Wallet.ton was sold for 215,250 Toncoin (~$260000) while casino.ton was sold for ~$244000.

“If TON has been able to achieve these results, imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction. In addition to millions of catchy t.me addresses like @storm or @royal, all four-letter usernames could be made available for sale (@bank, @club, @game, @gift etc).

“This would create a new platform where username holders could transfer them to interested parties in protected deals – with ownership secured on the blockchain via NFT-like smart contracts. Other elements of the Telegram ecosystem, including channels, stickers or emoji, could later also become part of this marketplace.

“When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales. Our team can write bullet-proof smart contracts for TON (since it was us who invented its smart-contract language), so we are inclined to try out TON as the underlying blockchain for our future marketplace.

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

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