Telegram introduces new inapp currency called Stars for online transactions

Telegram has introduced a new feature called “Telegram Stars,” which is an in-app token designed for purchasing digital goods and services.
According to Pavel Durov, the CEO of the company, developers can now accept payments for their mini apps using the simplest method possible – in-app purchases on Android and iOS.
These Stars tokens can be exchanged for Toncoin (TON), the native cryptocurrency of Telegram’s “The Open Network,” through Fragment, a platform commonly used for buying and selling Telegram usernames.
Furthermore, developers can also utilize Stars to promote their apps further on the Telegram platform.
Durov mentioned that Telegram will cover the costs of advertisements purchased with Stars on Apple and Google, as these platforms take a 30% commission on digital product sales.
The goal is to provide economic incentives for developers to create digital products on Telegram, as Durov believes this will lead to future updates with additional features like gifts for content creators.
Telegram has already experienced success with Notcoin (NOT), a popular app on the platform that gained 35 million users within its first five months of launch.
Notcoin operates as a “tap-to-earn” token, where users earn NOT tokens by completing social challenges.
A significant portion of Telegram’s 900 million users engage with Telegram bots and mini apps on a monthly basis.
In related news, the TON blockchain recently launched a $115 million community incentive program, and Telegram partnered with stablecoin issuer Tether (USDT) in April to drive cryptocurrency adoption through the messaging platform.
Justin Hyun, the TON Foundation director of investments, highlighted that users no longer need to navigate the complexities of acquiring different types of crypto or tokens.
While TON reached an all-time high price of $7.65 before settling at $7.50, its market cap of $18.2 billion is still $7 billion lower than its peak of $25.2 billion in April.
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