In the first phase, Telegram auctioned off usernames reserved by messenger team. Review by Crypto-Upvotes experts

Web3-marketplace Fragment was launched. It sells the names of Telegram users. On the evening of October 26, the first auctions were opened on the blockchain platform. Names in the form of digital assets are sold using smart contracts.

Names reserved by a Telegram team are put up on this platform. These are names such as @chat, @bank, @cryptotrader and others. Auctions last one week from the first bid. So far, the maximum bid is for the name @casino – 52.5 thousand TON ($84 ths.), @bank with a bid of 63 thousand TON ($100.8 ths.) and @auto – 31.5 thousand TON ($51.3 ths.).

Minimum bid depends on length of user name. Initial cost of a four-letter username is 10,000 TON (about $16,000). The minimum price for names with more characters starts from 500 TON ($800).

Pavel Durov announced plans to launch Web3-marketplace in late August. Other elements of Telegram’s ecosystem, including channels, stickers or emoticons, could also be part of that market later, said Durov, founder of Telegram.