Telegram to Integrate NFT Domain Names on Social App

Share This Post

Telegram founder plans on adding a “little bit of Web3 to Telegram in the coming weeks”

The founder of Telegram, Pavel Durov, revealed that he is considering integrating NFT usernames and other forms of Web3 into the messaging app in the coming weeks.

Durov announced on his channel how the fully decentralized layer-1 blockchain originally designed by Telegram, TON, uses domain names/wallet auctions impresses him.

Following this, he said the messaging app can replicate TON’s auction by adding custom groups, usernames and channel links on the blockchain using NFTs.

But how can these Web3 elements benefit the messaging service?

Reasons for Adding Web3 Elements

Blockchain-based domain naming systems, such as Solana Bonafida and the Ethereum Name Service, have greatly benefited from adding Unstoppable Domains (a popular blockchain naming system provider and identity platform).

If Telegram connects custom group, usernames and channel links to its platform, these NFTs can be beneficial for earning revenue—rather than solely being dependent on subscription services and ads.

The founder also says that the social platform is “inclined to try out TON” as a blockchain of choice due to being familiar with the technology.

The team behind the messaging app originally created the open network, and the messaging app already allows users to transfer TON’s cryptocurrency, Toncoin.

The History of Ton and Telegram

Nevertheless, issues between TON and Telegram are not unheard of. The company abandoned a TON blockchain project in 2018, alongside an initial coin offering (ICO).

Despite the project gathering a lot of interest from numerous investors, including Lightspeed Capital and Benchmark—who offered $1.7 billion together—a legal fight with the U.S. Securities and Exchange Commission (SEC) got in the way.

After the messaging app was forced to stop working on TON, numerous independent groups continued the development of TON.

The social channel no longer has direct involvement with the project. However, Durov now plans on adding a “little bit of Web3 to Telegram in the coming weeks” by using TON for his upcoming marketplace.

So, let’s sit back and see if Telegram and TON join forces to create Web3 services as hoped.

Subscribe to the NFT Lately newsletter to receive news covering the latest NFT-related drops, releases, reviews and more.

spot_img

Related Posts

Coinbound Appoints Lindsay Keyfauver to Director of Coinscribble

New York, NY – October 2nd, 2024 – Coinbound,...

Coinbound Named to Manifest’s Global Most Reviewed Advertising and Marketing Agencies List for 2024

Honored for Excellence in Blockchain Marketing, Crypto Marketing, Investor...

Void 2122 to Unlock a New Era of Combat Card Gaming with NFTs

The pioneering force in the Web3 landscape, Void 2122,...

Magic Eden Adopts Solana’s Compressed NFTs

Magin Eden, the distinguished NFT marketplace, recently announced its...

Friend.tech Returns With Surging NFT Trading Volumes

Friend.tech, the decentralized social media app, has shown an...

Related Posts

The History of Bitcoin NFTs – A Step-by-Step Timeline

With recent hype surrounding Casey Rodarmor's release of open-source...

Justin Beiber’s Track “Company” Releases as NFT

The renowned global pop sensation Justin Beiber’s 2015 hit...

Top 10 NFT Marketplaces to Look Out For and Why

How numerous NFT marketplaces make hunting for digital collectibles...

Everything About Starbucks NFT Reward Program ‘Starbucks Odyssey’

A Starbucks NFT will reward customers with a trip...

Top 5 Most Expensive CryptoPunks NFTs and Reasons Why

CryptoPunks' unique attributes sell for six digits or more CryptoPunks,...

What is NFT INT LLC? (And Who Owns It?)

This week, headlines broke across nearly all major media...