Telegram, the popular social messaging platform, has launched a new in-app currency called “Telegram Stars” to facilitate digital purchases and payments within the app.

Telegram Stars are designed to make it easier for users to pay for digital goods and services directly within the app. According to Telegram’s CEO, Pavel Durov, this new feature allows mini-apps within Telegram to accept payments through in-app purchases on both Android and iOS devices.

Converting Stars to Toncoin

Developers can exchange Telegram Stars for Toncoin (TON), the cryptocurrency that powers Telegram’s blockchain, The Open Network. This exchange can be done through Fragment, a platform widely used for buying and selling Telegram usernames. Additionally, developers can use Stars to promote their apps on Telegram, providing an extra incentive to build on the platform.

Telegram has committed to subsidizing advertisements purchased with Stars on Apple and Google platforms, which typically take a 30% commission on digital product sales. Durov believes this subsidy will make it economically viable for developers to reinvest Stars into promoting their apps, effectively reducing the overall commission to nearly zero.

Future Enhancements for Telegram Stars

Telegram plans to introduce additional features and functionalities for Stars in future updates. These include options for gifting Stars to content creators and other enhancements aimed at increasing user engagement and satisfaction.

The success of Telegram’s previous token, Notcoin (NOT), highlights the potential of in-app currencies on the platform. Notcoin, a “tap-to-earn” token, gained 35 million users within the first five months of its launch by allowing users to earn tokens through social challenges.

Telegram boasts significant user engagement, with over 400 million of its 900 million users interacting with Telegram bots and mini-apps every month. This high level of interaction suggests a strong foundation for the adoption of Telegram Stars.

Encouraging Cryptocurrency Adoption

In April, Telegram furthered its commitment to cryptocurrency by launching Tether (USDT) on the TON blockchain. This partnership aims to simplify cryptocurrency transactions for users, making it easier for them to adopt and use digital currencies.

Telegram’s introduction of Telegram Stars marks a significant step in enhancing the platform’s ecosystem. By simplifying in-app purchases and providing economic incentives for developers, Telegram aims to foster a more vibrant and user-friendly environment for digital transactions. With future updates promising even more features, Telegram Stars is poised to become a key component of the platform’s growth strategy.