According to BeInCrypto, an American high school student has sold the Telegram Algorithm Cup NFT he earned at the International Olympiad in Informatics for 15,000 GRAM tokens, worth roughly $20,400 at the time of the transaction. That price is about 40 times Telegram’s official estimate for the average trophy value, which the company has put at approximately $500. Telegram had previously said the trophy was worth around $500 on average, putting the final sale far above its benchmark.
Telegram founder Pavel Durov mentioned the sale on his channel and encouraged other winners to use the proceeds to start businesses. He recalled that $20,000 would have been enough to found his first company, VKontakte, two decades ago. The transaction, settled entirely in GRAM, was held up by Durov as an example of what competition winners can earn.
The Algorithm Cup is a digital collectible on the TON blockchain, given to 235 medalists as part of the competition’s prize package. GRAM, renamed from Toncoin in June, traded at about $1.36 at the time. The deal put the 15,000-token payment just past the $20,000 mark.
BeInCrypto reports that a U.S. high school student has sold a Telegram Algorithm Cup NFT for 15,000 GRAM tokens, valued at around $20,400 at the time of the trade. The price is roughly 40 times Telegram’s own estimate of the cup’s average value, which the company put at about $500.
The student earned the trophy at the International Olympiad in Informatics. Telegram founder Pavel Durov addressed the deal on his channel, telling other winners they could use proceeds from such sales to start companies. He added that $20,000 would have been enough to launch his first company, VKontakte, twenty years ago.
The Algorithm Cup is a digital collectible on the TON blockchain. It was issued to 235 medalists as part of the competition’s prize package. GRAM, the token used in the sale, was renamed from Toncoin in June. At the time of the transaction, GRAM traded at approximately $1.36, putting the 15,000-token payment just above $20,000.
Durov’s remarks on his Telegram channel drew attention to the sale and to the funding opportunity it gave the student. The final price came in far above the $500 average Telegram had projected for the cups.
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