Telegram Introduces Stars Token for In-App Transactions

Telegram has introduced a new in-app token called “Telegram Stars,” which users can utilize to buy digital goods and services within the app.

Pavel Durov, CEO of the company, explained in a post on June 6 that, “Mini apps within Telegram can now process payments for digital services in the most straightforward way – through in-app purchases on both Android and iOS platforms.”

Furthermore, developers have the option to exchange their earned Stars for Toncoin (TON), the cryptocurrency that fuels Telegram’s blockchain network, “The Open Network,” using Fragment, a marketplace predominantly for trading Telegram usernames.

Durov also mentioned that developers could use Stars to increase the visibility and promotion of their apps within the Telegram ecosystem.

Durov announced that Telegram plans to offset the cost of advertisements bought using Stars on Apple and Google platforms, which impose a 30% fee on sales of digital products.

Durov thinks this will financially motivate developers to create digital products on Telegram.

In a post dated June 6, Telegram announced that upcoming enhancements to Stars will introduce additional features and functionalities, including gifts for content creators among others.

Telegram’s Notcoin (NOT), a standout app on the platform, has achieved significant popularity, attracting 35 million users in just the first five months following its release.

Notcoin operates on a “tap-to-earn” model, allowing users to accumulate NOT tokens by engaging in a variety of social challenges.

Every month, over 400 million out of Telegram’s 900 million users engage with the platform’s bots and mini apps.