Encrypted messaging app Telegram is planning to launch a new marketplace to utilize NFT-like smart contracts to auction popular usernames. Telegram founder Pavel Durov announced the news on the messaging platform yesterday.
The success of the recent auction conducted by TON seems to be the inspiration behind the NFT-like smart contract, according to the message on the platform. Durov also talks about integrating TON-like technology on Telegram to its 700-million users, evaluating its success and possibilities given Telegram’s vast user base. Moreover, he stated that the potential marketplace could include elements of the Telegram ecosystem, like channels, stickers or emojis, in the near future. As the Telegram team has already worked on the original smart contract of TON, Durov is confident that the team will be able to pull it off again.
While the new marketplace might still be in the works, TON jumped around 10% after Durov’s message on Telegram.
TON and Telegram: Uneasy ties
TON, short for The Open Network, was initially known as Telegram Open Network and developed originally by the Telegram team. The blockchain shares a bitter history with its original creator, the Telegram team. TON started as a blockchain and a crypto for the messaging platform Telegram. Through TON, Telegram would integrate crypto payment to its 700 million users. However, TON soon ran into trouble with the United States Securities and Exchange Commission.
Subsequently, the project was abandoned by the creator with its open-source made available to the public. A separate project known as Free TON emerged from the available open source data, and TON was renamed The Open Network. Today, it operates independently of Telegram.
