Telegram account holder seeks to sell his username for a staggering $25 million
In the world of social media, a unique digital marketplace has emerged on Telegram's Fragment platform, revolutionising the way usernames are bought, sold, and valued. This blockchain-based auction system, introduced by Telegram, allows users to purchase premium usernames using TON cryptocurrency in a secure, automated process.
Fragment, an authorised auction site by Telegram, offers a secure and official venue for username transactions. The platform's automation, overseen by Telegram's system, eliminates the need for middlemen and reduces the risk of scams, providing a reliable platform for users.
This marketplace transforms desirable usernames, such as common names or short tags like @crypto, into valuable digital assets or "digital real estate". Once sold, the username permanently belongs to the buyer, with no possibility of reclaim by the former owner.
The rarity and desirability of certain usernames can drive bids into the thousands of TON tokens, reflecting a thriving digital collectible market linked to identity and presence within Telegram. This market demand dynamics have been evident in the case of the username @pavel.
Initially obtained for free by user Pavel Fedorov, the username later changed hands for approximately 8 million rubles. Since its purchase, the price of the username has increased by 70 times, reaching a value of $350,000. The username @founder bought the username @pavel on Fragment and later gifted it to Pavel Durov, the founder of Telegram.
The expansion of Telegram's user base and the introduction of Fragment have together fueled a novel digital economy around usernames. This intertwining of social identity, blockchain technology, and digital asset markets on popular social platforms like Telegram is a testament to the growing importance of digital identities in the modern world.
However, this digital economy has not been without its challenges. Despite Fragment's official status, numerous scams have emerged outside the platform, with fraudsters imitating Fragment or Telegram to hijack accounts or lure victims into fake transactions involving worthless tokens or impersonated username sales. Phishing attacks targeting Telegram users have significantly increased, with attackers deploying fake login interfaces mimicking Fragment to steal credentials.
In 2024, $350 million worth of usernames and anonymous numbers were sold on the Fragment platform, highlighting the thriving nature of this unique digital economy. As Telegram continues to grow and evolve, it will be interesting to see how this digital marketplace develops and what new opportunities it will bring.
Telegram, described as the only major social platform that regards users as free individuals, ensures that users have the right to own their digital identification data and assets, according to Pavel Durov. This principle is at the heart of the unique digital economy that has emerged on the Fragment platform, offering users a new way to monetise their digital identities and establish their presence within the massive Telegram user base, now exceeding 1 billion monthly active users worldwide.
- The Fragment platform, a secured and official venue by Telegram, provides a unique opportunity for users to monetize their digital identities by buying and selling desirable usernames, transforming them into valuable digital assets or "digital real estate."
- In the burgeoning digital economy of Telegram, the automation of the Fragment platform, overseen by Telegram's system, minimizes intermediaries, decreases the risk of scams, and ensures a reliable platform for users to engage in activities ranging from social-media presence to the trading of gadgets and entertainment-related content using technology like blockchain and cryptocurrency (TON).
