Telegram’s messaging app is evolving into a digital marketplace with the introduction of Telegram Stars. Picture using the app not just for chatting with friends, but also for purchasing digital goods such as e-books, online courses, or in-game items. All of this is made possible with the latest feature, Telegram Stars, launched on June 6.
Telegram has always been more than just a messaging app, with over 400 million users utilizing bots and mini-apps each month to buy products, access services, and play games. Now, with the new update, these bots and mini-apps can also sell digital goods and services, ranging from e-learning resources to digital art.
Telegram Stars can be purchased through in-app purchases on Apple and Google platforms or via PremiumBot. Once acquired, they can be used to buy digital products offered by various bots. These Stars adhere to Apple and Google’s policies for digital sales, ensuring seamless transactions.
Developers will soon have the ability to convert their earned Stars into Toncoin (TON), Telegram’s cryptocurrency, through Fragment. This TON can then be traded on exchanges or kept as investments.
Telegram has long supported the sale of physical products via bots and mini-apps, accepting payments from around the world. With the addition of digital products, the platform has expanded its reach and plans to improve Stars further by introducing features like gifts for content creators.
In terms of the economic aspect, Telegram’s CEO, Pavel Durov, noted that Apple and Google take a substantial 30% commission when users purchase Stars from their platforms. However, Telegram has a solution to this issue. Durov mentioned that Telegram will subsidize ads purchased with Telegram Stars, allowing developers to offset the commission costs if they use their earned Stars to promote their apps within Telegram. This effectively reduces the overall commission to nearly zero.
This approach aligns with the recent surge in mini-apps on Telegram, making it a prime location for launching new applications. Success stories within the Telegram ecosystem include Notcoin (NOT), an app where users earn tokens by completing social challenges, and Hamster Kombat, a crypto management simulation game. Both of these apps have achieved rapid growth, leveraging Telegram’s platform.
Furthermore, Telegram has made advancements in the crypto space, launching Tether (USDT) on the TON blockchain in April to drive more crypto adoption. Developers will soon be able to withdraw their earned Stars in TON through Fragment. Additionally, Toncoin has seen a significant rise in value, making it the 10th most valuable cryptocurrency.
With the introduction of Telegram Stars, the platform is poised for more mini-apps and substantial user growth, as developers are likely to bring new and innovative apps to the platform. This, in turn, will increase the potential for earning and spending Stars, creating a new type of marketplace. The use of Toncoin is also expected to rise, given its recent price surge and the ease of converting Stars into TON.
All of these developments could lead to more partnerships and integrations within the crypto space, solidifying Telegram’s role in the digital economy.