Telegram CEO Pavel Durov Hints at Web3 Integration – Bitcoin News

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Telegram CEO Pavel Durov Hints at Web3 Integration

Pavel Durov, CEO of Telegram, has hinted at a series of Web3 enhancements coming to the popular messaging platform. Durov talked about the benefits that tradable usernames and channel links might have in the future, creating a marketplace where users could use them in the same way Ethereum Name Service addresses are utilized.

Telegram Might Receive Web3 Enhancements

Digital companies are starting to see benefits that Web3, NFTs, and user-led digital marketplaces might bring to their operations. Pavel Durov, CEO of Telegram, one of the most popular messaging services linked to crypto, has hinted at the integration of some Web3 services into the platform.

Durov examined the success of a recent domain name auction on the TON network where more than 2,000 domains were sold for prices as high as $260,000. TON is the platform that Telegram dropped in 2020 due to a restraining order requested by the U.S. Securities and Exchange Commission (SEC) for selling alleged unregistered securities.

Durov stated:

If TON has been able to achieve these results, imagine how successful Telegram with its 700 million users could be if we put reserved @ usernames, group and channel links for auction.

In the aforementioned auction, domains like bank.ton and casino.ton were sold for high prices, too.

Reusing TON

The creation of a Web3 marketplace would allow users that currently own Telegram usernames to sell these to interested third parties and receive payments for this digital property in the same way that an NFT can be sold. This might also extend to group names, whose identities could be bought by companies or interested third parties. Also, sticker packs and emojis might be included in this proposed marketplace.

Durov explained that this initiative could be built on top of the TON network quickly, as the company already has the knowledge of the smart contracts structure of the system, given that it was originally designed by the Telegram. About this possibility, Durov explained:

When it comes to scalability and speed, TON probably has the best technology to host such decentralized sales … we are inclined to try out TON as the underlying blockchain for our future marketplace.

While Durov did not offer more details on the subject, he did mention that this update might be arriving in the coming weeks. Telegram has already integrated TON into its platform, with users having the possibility of sending toncoin, the currency of the TON network, via chat, since last May.

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What do you think about the new Web3 elements that might be coming to Telegram in the coming weeks? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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