In the summer, it became known about Telegram’s plans to create its own username marketplace, and now its launch has been confirmed by Pavlo Durov. For now, the most valuable names are available for purchase on the platform, called Fragment, and soon users will be able to sell their existing names on the platform.

The service works as an auction, based on the TON Foundation blockchain platform, also founded by Durov. As noted in the message, with the appearance of Fragment “for the first time in the history of social networks, a fair and transparent market for usernames will be created.”

Short usernames of 4 letters, such as @chat, @bank, @avia and others, can already be bought by offering your bid. However, the shorter the name, the higher the starting bid (the minimum amount for 4 letters is 10,000 Toncoin, and at the time of writing the news for the name @auto, for example, 31,500 Toncoin is offered). At the same time, the initial bid will decrease every day if the first potential buyer is not found for a specific lot.

The duration of the auction is one week. If no one bids a high price within 7 days, the name goes to the person who made the last bid.

As Durov’s Code clarifies, Fragment is not a subsidiary of Telegram and does not yet operate in the US. This follows from the rules of the service.