Telegram has rolled out a new digital payment feature called “Telegram Stars,” enabling users to conduct in-app purchases across both iOS and Android platforms.
In an update shared by the company’s CEO Pavel Durov on Thursday, Stars allows mini apps to accept payments for digital services. Moreover, app developers have the option to exchange their Stars for Toncoin (TON), the token of The Open Network, via the Fragment exchange.
The recent surge in TON’s value saw a notable 10% increase on Wednesday, propelling the token into the top 10 cryptocurrencies by market capitalization.
“Mini app developers can withdraw their Stars through Fragment using TON,” stated Durov. “Stars can also be utilized by developers to further promote their apps on Telegram, under preferential terms!”
This move aligns with the increasing popularity of Telegram’s mini apps, with millions of users joining daily. One such mini app, Hamster Kombat, has seen significant traction lately, particularly on Telegram. This simulator game allows players to enhance their earnings by purchasing “upgrade cards” and completing quests.
Last week, Hamster Kombat announced its achievement of millions of subscribers, securing the position of the No.1 channel on Telegram in terms of user count.
Durov emphasized that the recent surge in mini apps has solidified Telegram as the primary destination for launching new applications.
“Stars and ad subsidies elevate this to a new level – unprecedented in the history of social media.”
Apple and Google will receive a 30% commission when users purchase Stars through their platforms, Durov mentioned. However, he noted that Telegram will subsidize ads bought with Telegram Stars. Consequently, if developers reinvest Stars to promote their app, no commission will be charged.
“As a result, launching apps on Telegram becomes economically more viable than launching traditional mobile apps.”
In April, Telegram, in collaboration with the stablecoin issuer, launched Tether (USDT) on the TON blockchain, aiming to further promote cryptocurrency adoption through the platform.
