Telegram, the popular messaging app, has rolled out an exciting new feature: an in-app digital payment token called Stars. This innovative addition allows users to make in-app purchases seamlessly on both iOS and Android devices.
According to an announcement by Telegram CEO Pavel Durov, Stars can be used by mini app developers to accept payments for digital services. Additionally, these developers have the option to convert their Stars into Toncoin (TON), the native token of The Open Network, via the exchange platform Fragment.
On the day of the announcement, TON saw a significant boost, climbing 10% and securing a spot among the top 10 cryptocurrencies by market capitalization. This surge reflects growing confidence and interest in Telegram’s integration with the TON ecosystem.
Durov highlighted the flexibility Stars offers, stating, “Mini app developers can withdraw their Stars via Fragment using TON. They can also use Stars to further promote their apps on Telegram — on preferential terms!” This creates a robust incentive for developers to engage with the Telegram platform and its new digital economy.
The introduction of Stars is timely, given the explosive growth of mini apps on Telegram. These mini apps have been attracting millions of users daily, creating a vibrant ecosystem within the messaging app. One such app, Hamster Kombat, has recently risen to prominence. This simulator game allows players to boost their exchange income by purchasing “upgrade cards” and completing quests.
Hamster Kombat recently announced that it had garnered millions of subscribers, becoming the No.1 channel on Telegram in terms of user numbers. This success story underscores the potential for mini apps to thrive within the Telegram ecosystem.
Durov believes that the surge in mini app popularity has cemented Telegram’s status as the “main destination” for launching new apps. He remarked, “Stars and ad subsidies bring this to a new level – unprecedented in the history of social media.”
In addition to facilitating in-app purchases, Telegram’s Stars initiative also navigates the revenue-sharing landscape with tech giants Apple and Google. When users purchase Stars through these platforms, a 30% commission is levied by Apple and Google. However, Telegram has devised a strategy to mitigate this cost for developers.
Durov explained that Telegram will subsidize ads purchased with Telegram Stars. This means that if developers choose to reinvest their Stars into promoting their apps, they can do so without incurring additional commission fees. This subsidy aims to encourage developers to boost their visibility and growth within the Telegram ecosystem, making it a win-win situation for both parties.
Telegram’s foray into the digital payment space is not its first step into the world of cryptocurrency. In April, Telegram launched Tether (USDT) on the TON blockchain in collaboration with the stablecoin issuer. This partnership aimed to enhance crypto adoption through Telegram, providing users with more diverse financial tools and options within the app.
The introduction of Stars further solidifies Telegram’s commitment to integrating advanced financial technologies and creating a dynamic platform for developers and users alike. As the digital landscape evolves, Telegram continues to innovate, offering new ways for its vast user base to interact, transact, and thrive.
Telegram’s launch of the Stars token marks a significant step in the app’s evolution, blending social media with digital payments in a unique and user-friendly way. By enabling seamless in-app purchases and offering developers innovative ways to monetize and promote their apps, Telegram is setting a new standard in the intersection of messaging and digital finance.
With the continued growth of mini apps and the strategic use of cryptocurrency, Telegram is poised to remain at the forefront of technological innovation, driving both user engagement and developer success in its ecosystem.
