Cronos (cro) 
Telegram is transforming its messaging app into a digital marketplace with the launch of Telegram Stars, introduced on June 6.
Imagine using Telegram not just for chatting but also for buying digital goods like e-books, online courses, or in-game items. This is now possible with Telegram Stars.
The app, which sees over 400 million users interacting with bots and mini-apps monthly, has always been more than just a messaging platform. Users engage with it to buy products, access services, and play games.
With the new update, these bots and mini-apps can now sell digital goods and services, such as e-learning resources and digital art. Telegram Stars can be bought through in-app purchases on Apple and Google platforms or via PremiumBot. These Stars can then be spent on digital products offered by various bots. Telegram Stars comply with Apple and Google’s policies for digital sales, ensuring smooth transactions.
In the near future, developers will be able to convert their earned Stars into Toncoin (TON), Telegram’s cryptocurrency, through Fragment, which can then be sold on exchanges or kept as investments.
Telegram has long supported the sale of physical products via bots and mini-apps, accepting payments globally. Now, with the addition of digital products, the platform has broadened its scope. Telegram also plans to enhance Stars further, introducing features like gifts for content creators.
Why is Telegram making these changes?
From an economic perspective, Pavel Durov, Telegram’s CEO, mentioned that Apple and Google take a 30% commission when users buy Stars from their platforms. However, Telegram has a solution. Durov said Telegram will subsidize ads purchased with Telegram Stars. This means developers can offset the commission costs if they use their earned Stars to promote their apps within Telegram, effectively reducing the overall commission to nearly zero.
This approach aligns with the recent boom in mini-apps on Telegram, which have made Telegram a popular place for launching new applications. Durov even called it “unprecedented in the history of social media.”
Success Stories Within Telegram
To understand the potential impact, consider some success stories within the Telegram ecosystem. Notcoin (NOT), a popular app where users earn tokens by completing social challenges, amassed 35 million users in just five months. Similarly, Hamster Kombat, a crypto management simulation game, has gathered 60 million users since its launch in March.
Notcoin recently surged past a $2 billion market cap, making it the largest gaming token launched so far in 2024 and one of the top 10 coins by market cap.
Both of these apps have leveraged Telegram’s platform to achieve rapid growth. With the introduction of Telegram Stars, the possibilities for new apps are even more promising.
Telegram’s Crypto Advancements
Telegram has also been making strides in the crypto space. In April, they launched Tether (USDT) on the TON blockchain, aiming to drive more crypto adoption. Soon, developers will be able to withdraw their earned Stars in TON, Telegram’s preferred cryptocurrency, through Fragment, Telegram’s marketplace for in-app usernames and advertisements.
Toncoin itself has seen a significant rise. Recently, TON hit its highest price ever at $7.76, with a market cap nearing $18 billion, making it the 10th most valuable cryptocurrency. This surge is partly due to increased whale activity, with transactions over $100,000 spiking by 237.5% on June 3, just days before the launch of Telegram Stars.
The number of large #Toncoin transactions (over $100,000) has surged by 237.5% in the past 24 hours!
What’s next for Telegram and its ecosystem? Expect more mini-apps and even bigger user growth. With Telegram Stars lowering promotion costs, developers are likely to flood the platform with new and innovative apps.
As more users engage with these apps, the potential for earning and spending Stars will grow, creating a new type of marketplace. We might also see a rise in the use of Toncoin. Given its recent price surge and the ease of converting Stars into TON, it’s likely to become even more popular.
All of this combined could lead to more partnerships and integrations within the crypto space, further cementing Telegram’s role in the digital economy.
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