Telegram recently unveiled a marketplace for rare usernames. The trading platform is on The Open Network blockchain (TON) and soon became names are being sold on the assembly line. It makes Telegram quite a bit of money.
Already $50 million worth of names sold
That writes Telegram founder Pavel Durov in a message on the social media platform. He thinks blockchain projects should go back to their basic principles: decentralization. ‘Fragment‘ should be a textbook example of this. It took Durov and four others just five weeks to to develop this decentralized auction platform.
The CEO praises The Open Network (TON) for its speed and efficiency. He implies that the blockchain can therefore handle more complex applications, unlike Ethereum (ETH). It can be said that Durov has a big finger in the pie at The Open Network, so his opinion may be a bit biased.
The platform was only introduced in October, but it is already shifting considerable amounts. At the moment of writing has @news the title of most expensive Telegram account name, with a sales price of 994,000 TON. That’s about it $1.8 million. The lead is not great, because @auto has been sold for 900,000 TON, or about $ 1.6 million. In total, Telegram has already sold $50 million worth of usernames.
Competition for Ethereum Name Service (ENS)?
HThe nice thing about this is that anyone can buy and sell names. Three weeks ago the news went that @doge had been sold for 350,000 TON. Elon Musk would be the buyer. At that time it was about half a million dollars, but now it is already more than 600,000 dollars – a ‘ton’ more.
Tthe Open Network competes basically with Ethereum. Like Ethereum, it offers a lot of possibilities, ranging from ‘regular’ blockchain transactions to processing smart contracts and running applications. Fragment is the domain name exchange, which actually seems to compete with Ethereum Name Service (ENS).
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