Key Takeaways:
- Telegram launches “Telegram Stars” for in-app purchases and promotions, enhancing its ecosystem.
- Stars can be converted to Toncoin (TON) and used to promote apps, with subsidized ad costs to counteract high platform fees.
- Telegram plans to add gifting features and continues to grow its ecosystem with new tokens and increased user engagement.
Telegram has introduced “Telegram Stars,” a new in-app token for buying digital goods and services on its platform.
Pavel Durov, Telegram’s CEO, announced that mini apps could use Stars for in-app purchases, facilitating an easier payment process.
Telegram launches digital mini-app payment system, Telegram Stars https://t.co/SOmW4JjTbD
— The Block (@TheBlock__) June 6, 2024
Developers can convert Stars to Toncoin (TON) via Fragment, a platform for trading Telegram usernames, and use Stars to promote their apps on Telegram.
To counteract the high commission fees from Apple and Google, which are about 30%,
TELEGRAM LAUNCHES DIGITAL MINI-APP PAYMENT SYSTEM, TELEGRAM STARS
— BSCN (@BSCNews) June 6, 2024
– @Telegram CEO Pavel Durov announced "Telegram Stars," a new payment system enabling users to purchase digital services through in-app purchases on iOS and Android.
– App developers can convert their stars into… pic.twitter.com/bes46suoat
Telegram will subsidize ads bought with Stars, effectively reducing the commission to nearly zero if the Stars are reinvested in app promotion.
This makes it more economically viable to launch apps on Telegram compared to traditional mobile apps.
Messaging app @telegram has announced a new in-app currency called Stars that's linked to Toncoin (@ton_blockchain) and built for mini apps like @thenotcoin and @hamster_kombat. Click to read: https://t.co/IAIYqto5CF
— Decrypt (@decryptmedia) June 6, 2024
Telegram plans to add more features to Stars, including options for gifting content creators.
Additionally, the Telegram ecosystem continues to grow with notable developments like the introduction of Tether (USDT) on the TON blockchain and the rapid user adoption of Notcoin (NOT), a “tap-to-earn” token.
Telegram’s internal currency, Telegram Stars, was announced as a way to pay for digital services in mini apps. Mini app developers can withdraw their Stars via Fragment using TON. They can also use Stars to further promote their apps on Telegram. https://t.co/KVxcb9f99J
— Wu Blockchain (@WuBlockchain) June 7, 2024
TON’s value recently hit a new high, although it has slightly decreased from its peak.
More than 400 million of Telegram’s 900 million users engage with its bots and mini apps monthly.
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Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
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