Telegram, a privacy-focused messaging app, has recently introduced an in-app token called “Telegram Stars,” marking a significant development in the platform’s digital economy.
Available on both iOS and Android, Telegram Stars enables users to purchase digital goods and services within the platform’s mini-apps using fiat currency.
“With fast, user-friendly payments for digital goods and services, the bot and mini app platform will allow new types of businesses to reach over 900 million potential customers inside Telegram” – the company said in a blog post today.
Picks for you
Developer benefits and economic viability
Telegram Stars offer significant advantages for developers. App developers can swap their Stars for TON, the native token of The Open Network, via the Fragment exchange, facilitating a smooth transition between the in-app currency and the broader cryptocurrency market.
Telegram is also offering developers a generous 70% revenue share from in-app purchases. Additionally, the platform will subsidize advertisements purchased with Telegram Stars, effectively reducing the typical 30% commission taken by Apple (NASDAQ: AAPL) and Alphabet (NASDAQ: GOOGL) to nearly zero for developers who reinvest in promoting their apps.
This strategy aims to make Telegram a more economically viable option for developers than traditional mobile app stores.
Expanding the crypto ecosystem
Telegram’s efforts to integrate cryptocurrency solutions are further seen by its partnership with Tether (USDT), announced in April.
This collaboration aimed to drive more cryptocurrency adoption via the messaging platform, with Tether launched on the TON blockchain as part of this initiative.
Recent ventures within the Telegram ecosystem have also gained significant traction.
Mini app Hamster Kombat, which plans to airdrop a TON-based token to players, has quickly become a popular gaming obsession in the crypto world.
Similarly, Notcoin (NOT), another in-app Telegram game, saw its associated cryptocurrency surge past a $2 billion market capitalization earlier this week, making it the largest gaming token launched in 2024 so far.
The introduction of Telegram Stars coincides with increased market activity surrounding TON, The Open Network’s native token.
Recently, TON achieved a new all-time high price of $7.65, reflecting growing interest and investment in Telegram’s cryptocurrency initiatives.
As Telegram continues to expand its partnerships and technological capabilities, Telegram Stars is likely to play a crucial role in shaping the future of digital commerce within the messaging app.
