The Telegram social network has quickly evolved into a vibrant Web3 ecosystem with more than $150M in TVL.
A technology blogger Pavel Federov has earned a whopping 15,000 Toncoin (TON), worth about $84,750, through selling his Telegram username on the Toncoin-based Fragment auction platform. According to on-chain data, the Telegram username @pavel was acquired through a bidding process on April 23. Interestingly, the involved Telegram username was acquired by Federov nine years ago for free.
After acquiring the Telegram username @Pavel, the crypto entrepreneur @founder gifted the collectible to tech billionaire and Telegram CEO Pavel Durov. Furthermore, the Telegram user, @founder, is a major username collector with a dozen including @babydoge, and @memecoins, among many others.
“Congratulations to Pavel Federov and many thanks to @founder for the generous gift. This shows how Telegram users benefit from direct ownership over their names. $350 million worth of Telegram usernames and anonymous numbers have been sold in the last 18 months,” Durov noted.
Meanwhile, Durov noted that he had purchased the Telegram username @Paul for a whopping 10k TON on the Fragment platform to halt more generous gifts.
The Fragment platform allows more than 900 million telegram users to monetize their respective usernames on the TON blockchain. Telegram users can trade anonymous numbers not tied to a specific SIM card. Additionally, the Fragment platform allows users to pay for advertisements on public Telegram channels and also pay for Telegram premium content.
Telegram Social Platform Evolves to a Major Web3 Hub via Toncoin
As Coinspeaker previously mentioned, the Toncoin economy is vastly entrenched in the Telegram social network. The Toncoin (TON) has already grown to a top ten most valuable digital asset, with a reported market valuation of about $28.9 billion. According to the latest market data, TON price traded around $5.72 on Tuesday during the early New York session, up 15 percent in the past four weeks.
The Toncoin network is backed by major web3 investors including Animoca Brands, Blockchain.com, Fireblocks, HashKey, OKX, and the Bybit exchange among others.
Recently, the largest US dollar-backed stablecoin Tether USDT was unveiled on The Open Network, with over $60 million already minted on the blockchain. As a result, Telegram users can seamlessly send and receive USDT through their accounts with near-instant speed.
Market Picture
The web3 space has grown to a trillion-dollar industry fueled by institutional investors seeking to tokenize real-world assets (RWA). Having already dethroned major layer one chains such as Cardano (ADA), the Toncoin project is well-positioned to grow further in the confirmed crypto bull cycle.
The Toncoin project has registered GamiFi projects such as Notcoin (NOT) that have attracted millions of players within a short period. Compared to other blockchains, the Toncoin project has a better chance of a faster growth rate in the coming months.
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