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.


Related Posts

Magic Eden Adopts Solana’s Compressed NFTs

Magin Eden, the distinguished NFT marketplace, recently announced its... Returns With Surging NFT Trading Volumes, the decentralized social media app, has shown an...

CoinMarketCap and HELLO Labs to Premiere TV Series, Killer Whales

An official trailer for the Web3 television series 'Killer...

Machi Proposes 11M $APE Sends NFTs to Museums Worldwide

An intriguing week-long vote surrounding OG NFTs kick-started today! Machi Big Brother,...

Italian Luxury Watch Brand Panerai Introduces Digital Passports Generated with NFT

Italian luxury watch manufacturer Panerai has revealed plans to include an...

Related Posts

Top 5 Most Expensive CryptoPunks NFTs and Reasons Why

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

Rarible Rises Amid Strong Royalty Advocacy—OpenSea Sinks

The NFT marketplace, Rarible, has a notable 24-hour spike...

Magic Eden Presents $1 Million Fund to Boost NFT Projects on Polygon

Magic Eden, a prominent Solana-based marketplace, has taken a...

Hot Wheels Introduces New NFT Collection: Garage Series 6

Hot Wheels, the beloved toy car brand, has launched...

Snoop Dogg’s Bored Ape NFT Inspires New Skechers Line

Snoop Dogg and Skechers have collaborated again to release...