Telegram introduced a new payment system called 'Telegram Stars' for purchasing digital goods and services within the social media platform. This system enables users to buy items like e-books and online courses directly through in-app purchases on both Apple and Android devices.
Durov, the CEO of Telegram, described Telegram Stars as a means for users to pay for digital services within mini-applications. Developers have the option to convert stars earned by their bots into TON, the native token of The Open Network, through the Fragment crypto exchange. Additionally, stars can be utilized by developers to advertise their apps on Telegram.
Telegram CEO: 'Stars' is Apple and Google-compatible
Telegram employs web programs that operate within the chat network, known as "mini-apps." Businesses have been using these mini-apps to sell actual things on Telegram for many years, according to Durov. According to the platform, approximately 400 million individuals connect with the apps every month.
The Telegram founder said that the service will soon accept purchases for digital products in the form of stars, an in-app virtual currency. In a Telegram thread, Durov stated that Stars follows Apple and Google's most recent standards for selling digital items.
"Apple and Google take a 30% commission when users buy stars from them, but Telegram will subsidize ads purchased with Telegram Stars," - Pavel Durov.
Telegram experiences a rise in new apps
Telegram has experienced a rise in app development on the network. In January, the tap-to-earn game Notcoin started on the platform and achieved a quickfire 35 million users within five months. Hamster Kombat, another game based on the TON blockchain that allows players to gain points by tapping into its mini-app on Telegram, has amassed more than 100 million users.
According to Durov, mini-apps like Notcoin and Hamster Kombat are growing rapidly since consumers do not need to install them on their devices. He announced intentions to add more features and functionality to Telegram Stars in the future, such as presents for content creators. As of writing, the price of TON is up 4.7% to $7.54 per day, and it has increased by more than 350% since January.
June 2024, Cryptoniteuae