Telegram, the popular social platform, has recently launched a new digital currency called ‘Stars’ to revolutionize in-app transactions for its users. This new feature allows users to easily pay for digital goods and services from the platform’s mini apps, making the process seamless and convenient.
Developers of mini apps on Telegram can exchange Stars for Toncoin (TON), the native asset of the TON chain, a blockchain network developed by Telegram. This exchange can be done on Fragment, a platform where Telegram users often buy and sell usernames. Pavel Durov, Telegram’s CEO, expressed his excitement about this new feature, stating that mini app developers can now accept payments for digital services using the simplest method possible – in-app purchases on Android and iOS.
One key aspect to note is that acquiring Stars on Telegram will incur a 30% commission paid to Apple or Google, depending on the device used. However, Telegram is offering subsidized advertising on the platform as a benefit for developers paying for advertisements in Stars, reducing advertising-related commissions close to 0%.
In addition to facilitating in-app transactions, Stars will also allow content creators to monetize their work on the platform in the future. This introduction of Stars is expected to bring various monetization models within Telegram’s social layer and mini-app ecosystem, incentivizing developers to create innovative apps within the Telegram ecosystem.
Pavel Durov emphasized the significance of Stars in a recent post, stating that the mini app boom has already positioned Telegram as the main destination to launch new apps. Stars and ad subsidies will take this to a new level, making it unprecedented in the history of social media.
Telegram’s foray into the decentralized space has been gaining momentum, with the recent success of Notcoin, a mini app on the platform that allows users to earn the NOT token through social challenges. The TON blockchain is also enabling the development of various Web3 use cases, with Toncoin’s market cap now reaching the tens of billions.
Overall, the introduction of Stars on Telegram is set to transform the way users interact with mini apps on the platform, offering a seamless payment method and opening up new possibilities for developers and content creators.
