Telegram Launches In-App Currency ‘Stars’ for Digital Purchases with Toncoin, Engaging 400 Million Users
- A new in-app currency facilitating digital purchases, now exchangeable for Toncoin on the Fragment platform.
- With subsidies on ad purchases made with Stars, Telegram supports developers against app store commissions.
Telegram has introduced “Telegram Stars,” a versatile in-app currency designed to streamline the purchase of digital goods across its platform. Announced by CEO Pavel Durov, this initiative allows over 400 million monthly users to engage more dynamically within Telegram’s ecosystem, enabling them to purchase digital products directly through bots and mini-apps.
Seamless Transactions and Compliance
As introduced in the CNF YouTube video below, the expansion from physical to digital goods leverages Telegram’s existing bot platform while adhering to the payment protocols of major app stores like Apple and Google.
Users can buy Stars through these platforms or via PremiumBot, ensuring a compliant and smooth transaction process. Additionally, developers will soon be able to convert their earnings from Stars into Toncoin via the Fragment platform, enhancing the currency’s utility and appeal.
This integration is fully compliant with Apple and Google guidelines, which facilitates seamless in-app purchases for developers and users alike.
Following the video, Collin Brown, a notable blockchain researcher, shared his prediction in a tweet stating that future updates to Telegram Stars promise more features for content creators, enhancing the functionality for mini apps to accept payments on both Android and iOS platforms.
🚀 #Telegram has launched “Telegram Stars,” an in-app currency for digital purchases, swappable for #Toncoin on the Fragment platform. With Stars, mini apps can easily accept payments on Android and iOS. CEO Pavel Durov announced Telegram will subsidize ads bought with Stars to… pic.twitter.com/jdgwayK03L
— Collin Brown (@CollinBrownXRP) June 7, 2024
Is it a sign for TON Price to Rally?
The launch of Telegram Stars has been met with a positive market response, evidenced by a noticeable increase in the value of Toncoin. Following the announcement, Toncoin’s price saw at $7.50 with a surge of 1.90% in a single day and 17.04% over the past week.
This upward trend supports the speculation by blockchain experts like Collin Brown, who anticipate further enhancements to Telegram Stars that could drive additional value to Toncoin. In line with an early CNF post, this development highlights the market’s positive reaction to the Stars announcement.
