Web3 is becoming popular with the arrival of cryptocurrencies and NFTs (non-fungible tokens) to decentralized platforms. This time, the iteration of WWW might soon come to Telegram, one of the most used messaging apps in the world at the moment.
According to CEO Pavel Durov, this integration is expected to arrive in the coming weeks.
Telegram Founder is Exploring Web3 to the Platform
According to a report by Benzinga, Durov is closer to bringing Web 3.0 to Telegram in the next few weeks. Recently, the CEO appeared excited about the TON project and the mechanics behind an NFT auction.
Durov acknowledged that the messaging app might adopt the auction system of TRON so people could access blockchain options on the platform, such as NFTs.
Moreover, he said that the chatting site could do what TRON does by using custom usernames and links for the users.
If Telegram successfully incorporates Web3 into the system, this could open a new way of revenue for the company. As of the moment, the cloud-based firm relies on subscription services and advertisements to increase its earnings.
Durov continued that the company is willing to "try out TRON" so several customers can have a different option when using the messaging service.
Given the popularity of blockchain worldwide, Telegram's decision to test it out could spell another competition against other NFT companies.
As such, the company aims to launch the Web3 integration to introduce a new NFT marketplace for new and veteran investors.
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Telegram Once Abandoned TON Project
As a throwback to 2018, TechCrunch reported that Telegram had engaged with a TON blockchain project. Unfortunately, its plan to expand the blockchain service did not go well.
At the time, the chat app had been venturing into the mega initial coin offering or ICO and Telegram Open Network (TON) blockchain program.
The project could have been a promising initiative since several investors have already expressed interest in it.
Despite its positive feedback, Durov announced that the blockchain project would be discontinued after losing a legal fight against the US Securities and Exchange Commission (SEC).
"I'm really impressed by the success of the auction TON recently conducted for their domain/wallet names. Wallet.ton was sold for 215,250 Toncoin (~$260000) while casino.ton was sold for ~$244000," Durov said as part of his plan to bring NFT auction to the app.
As of writing, TON blockchain's native token has hit 16% in the last 24 hours. Against Bitcoin, the largest cryptocurrency in the world, and Ethereum, it was up by 17% and 15%, respectively.
Telegram is not the only company that expressed interest in the Web3 blockchain. Earlier this year, Google CEO Sundar Pichai revealed some details about the Web3 strategy during the Q4 earnings call.
This article is owned by Tech Times
Written by Joseph Henry
