Telegram recently introduced a new payment system on its social media platform, known as ‘Telegram Stars,’ enabling users to purchase digital goods and services such as e-books and online courses through in-app purchases on Apple and Android devices.
According to Telegram CEO Durov, Telegram Stars provides a convenient way for users to pay for digital services within mini-apps. Developers can cash out stars earned by their bots in TON, the native token of The Open Network, via the Fragment crypto exchange. Additionally, stars can be used for app promotion within the Telegram ecosystem.
The implementation of Stars has been designed to comply with the latest policies of Apple and Google regarding the sale of digital goods. By utilizing web applications or mini-apps within the platform, businesses have been leveraging Telegram to sell physical products for a considerable period. Over 400 million users engage with these mini-apps on a monthly basis.
In recent months, Telegram has witnessed significant growth in the number of apps being developed on its platform. Notable examples include the tap-to-earn game Notcoin, which attracted 35 million users in just five months, and Hamster Kombat, a game built on the TON blockchain with over 100 million users. Durov attributes the rapid growth of mini-apps like Notcoin and Hamster Kombat to their ease of use, as users do not need to download them onto their devices.
Looking ahead, Telegram plans to enhance the features and capabilities of Telegram Stars, including the introduction of gifts for content creators. The price of TON has experienced a 4.7% increase to $7.54 on the day, marking a significant 350% surge since the start of the year.
