News

Telegram Sells Usernames Worth $50m on the Open Network Blockchain

single-image

Quick Take

  • Telegram has sold more than $50 million in usernames, founder Pavel Durov said.
  • The names were sold via Fragment, a platform that secures name ownership on the blockchain.

In slightly less than one month, Telegram has sold $50 million usernames on The Open Network, a blockchain that the company developed, Telegram founder and CEO Pavel Durov claimed. 

Stay in the know on crypto by frequently visiting Crypto News Today

Last month, Telegram in October gave users the ability to buy usernames for its app via a blockchain-based platform called Fragment. The platform lets interested parties buy available usernames and secure ownership on its “The Open Network” blockchain, known as TON.

When buying a name, users pay with the TON cryptocurrency, the native asset of the network. In the last four weeks, Fragment sales surpassed $50 million, Durov said in a Telegram message. Some individual Telegram usernames have brought in large sums of money on Fragment. For example, the username @news was auctioned for 994,000 TON, about $1.7 million, per data from the official website.

Durov said that in future Fragment will expand beyond usernames and build a host of blockchain tools for Telegram including crypto wallets and decentralized exchanges. Such services may be accessed from within the Telegram app, Durov suggested.

“Telegram’s next step is to build a set of decentralized tools, including non-custodial wallets and decentralized exchanges for millions of people to securely trade and store cryptocurrencies,” Durov said.CRYPTOCASTER® - DECENTRALIZED FREEDOM!
Read More at THEBLOCK


© 2022-2023 Crypto Caster provides information. CryptoCaster.world does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Support CryptoCaster with any amount of Bitcoin by copying and pasting our Unstoppable Domain; villagewest.crypto in your sending wallet or crypto coin exchange.

Your contribution support will help in our growth, coverage, and global presence. CryptoCaster is a decentralized publisher “Covering a Global Evolution Re-defining Mediums Of Exchange”. We will continue to upgrade and create impactful sections to our lineup.
Any amount, as often as you can contribute will be greatly appreciated.
Every contribution, however big or small, is so valuable for our future. Thank you for your consideration and support!
Member of Global Meta Media Consortium℠www.g2mc.world

Leave a Comment

Your email address will not be published.

You may also like