Telegram Introduces Salary Token Stars
Telegram, the instant messaging platform known for its privacy protection, has been gaining widespread attention and popularity worldwide due to its Ton ecosystem. Recently, Pavel Durov, the CEO of Telegram, announced that Telegram will be introducing a new internal currency to facilitate the purchase of digital goods and services within the Telegram application in the cryptocurrency ecosystem.
Telegram will launch a new virtual token called “Stars,” which users can purchase through the in-app store on iOS or Android systems. These tokens can then be used to buy various digital products in Telegram’s popular games, such as Notcoin and Hamster Kombat.
Furthermore, Durov stated that developers will also have the option to convert Stars tokens into Telegram’s native cryptocurrency, Toncoin (TON). They can then trade these TON coins, along with other cryptocurrencies like Bitcoin (BTC) or stablecoin USDT, using the Telegram wallet.
In addition, Telegram will subsidize ads purchased with Stars tokens to encourage users and businesses to use the Stars token, while also avoiding Apple and Google’s 30% commission fees.
When users purchase Stars tokens with their credit cards from the App Store or Play Store on their phones, Apple and Google take a 30% cut. However, Telegram will subsidize ads purchased with Telegram Stars, resulting in almost zero costs if developers reinvest Stars in promoting their applications.
Pavel Durov emphasizes that “launching applications on Telegram makes economic sense.”
Further reading:
What makes the mining game Notcoin so popular with 30 million players and no marketing budget?
Telegram’s accelerating strategy of innovation
According to an official post by Telegram, the new payment method will accelerate transactions for digital goods and services, allowing this new form of commerce to reach over 900 million potential customers.
This new strategy not only reduces the economic pressure faced by developers but also enhances the attractiveness of projects launching new applications on Telegram.
With the highly popular gaming project Notcoin being launched on Telegram this year, the market value of Notcoin (NOT) quickly skyrocketed to $2.5 billion, making it the largest gaming token of 2024. Subsequently, due to the robust development of the overall ecosystem, the price of Toncoin also reached a new all-time high of $7.76, with a market value surpassing $18 billion, making it one of the top ten cryptocurrencies in the market.
Telegram’s series of innovative initiatives not only provide users with more convenience and choices but also revolutionize the traditional app development model. Through effective market strategies and technological innovations, Telegram is redefining the way digital goods and services are transacted.
With the promotion of Stars and TON, Telegram is likely to become a new hub for cryptocurrency and digital product transactions. It is expected that Telegram will further integrate more cryptocurrency functionalities in the future and may become a significant force influencing the global digital economy.
References:
Decrypt, The Block
