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Telegram, the popular messaging app, has launched an exciting new feature: an in-app digital payment token called Stars. This innovative addition allows users to make in-app purchases seamlessly across both iOS and Android devices.
According to an announcement by Telegram CEO Pavel Durov, mini-app developers can use stars to accept payments for digital services. Additionally, these developers have the option to convert their stars into Toncoin (TON), The Open Network’s native token, via the Fragment exchange.
On the day of the announcement, TON saw a significant increase, climbing by 10% and securing a place among the top 10 cryptocurrencies by market capitalization. This increase reflects the growing confidence and interest in Telegram’s integration into the TON ecosystem.
Durov highlighted the flexibility Stars offers, saying: “Mini-app developers can withdraw their stars via Fragment using TON. They can also use the stars to further promote their apps on Telegram, at preferential terms!” This creates a strong incentive for developers to engage with the Telegram platform and its new digital economy.
The introduction of Stars comes at a good time, given the explosive growth of mini-apps on Telegram. These mini-apps attract millions of users every day, creating a vibrant ecosystem within the messaging app. One such app, Hamster Kombat, has recently gained prominence. This simulation game allows players to increase their trading income by purchasing “upgrade cards” and completing quests.
Hamster Kombat recently announced that it has amassed millions of subscribers, becoming the #1 channel on Telegram by user count. This success story highlights the potential for mini-apps to thrive within the Telegram ecosystem.
Durov believes that the growing popularity of mini-apps has cemented Telegram’s status as a “top destination” for launching new apps. He noted: “Stars and advertising subsidies are taking this to a new level, unprecedented in the history of social media.”
In addition to facilitating in-app purchases, Telegram’s Stars initiative also falls into the revenue-sharing landscape with tech giants Apple and Google. When users purchase Stars through these platforms, a 30% commission is taken by Apple and Google. However, Telegram has come up with 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 is intended to encourage developers to increase their visibility and growth within the Telegram ecosystem, making it a win-win situation for both parties.
Telegram’s foray into digital payments isn’t its first step into the world of cryptocurrencies. In April, Telegram launched Tether (USDT) on the TON blockchain in collaboration with the stablecoin issuer. The partnership aimed to improve cryptocurrency adoption via Telegram, by offering users more diverse financial tools and options within the app.
The introduction of Stars further strengthens Telegram’s commitment to integrating advanced financial technologies and creating a dynamic platform for developers and users. As the digital landscape evolves, Telegram continues to innovate, providing new ways for its vast user base to interact, transact, and thrive.
Telegram’s launch of the Stars token marks a significant milestone in the app’s evolution, combining social media and digital payments in a unique and user-friendly way. By enabling seamless in-app purchases and providing developers with innovative ways to monetize and promote their apps, Telegram is setting a new standard at 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 across its ecosystem.
