Telegram has tried various methods of earning money to ensure the sustainability of the business. Last year we saw Telegram introduce commercials on public channels. The company has already launched a paid plan that allows for large file transfers, unique stickers and reactions, and the ability to convert voicemails to text. The new announcement of a blockchain username auction is another step towards getting more money in the bank. It’s coming soon, WeChat can take notes, and here are the details!
It has been 3 weeks since it was possible to buy Telegram usernames with the help of The Open Network blockchain. To this end, the approximately 700 million active Telegram users can now acquire one or more pseudonyms in the “@xxx” format through an auction system on the dedicated Fragment platform.
Since the official announcement, these usernames have been snapped up at exorbitant prices and we can mention @nike which was sold for USD 480,000, @king for USD 373,000 or even @esport which was obtained for $258,000. Being an auction, the minimum price is established by the current holder of the username of interest and it is from there that the final price will be set.
It’s good that companies like Telefonca and Telegram have this kind of initiative.
A new concept
With this collaboration with TON, Telegram allows its users to find others using multiple usernames. Indeed, if you buy multiple usernames based on the blockchain, you will be able to use them anywhere in Telegram and above all you will be able to use a username in specific chat groups.
Furthermore, by acquiring a username on Telegram, you can afford to use less than 5 characters and in addition you can keep all the usernames acquired through this system. In short, this concept is a great first in the history of social media. Thanks to it, people can fully own their identity on a particular platform.
Telegram always has big ambitions in the world of web3, but sometimes these projects have been put on hold. In 2018, the company hatched plans to create the Telegram Open Network (TON) blockchain project and an initial coin offering. The project has received backing from well-known investors, including Benchmark and Lightspeed Capital, who have invested $1.7 billion. However, after a legal battle with the US Securities and Exchange Commission, Telegram was forced to abandon the project. Fortunately, Telegram has managed to catch up with this username concept.
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