Telegram Unveils "Stars" A New In-App Currency for Digital Purchases

Telegram is making a splash in the in-app currency market with the launch of "Stars," a new digital token designed to streamline purchases within its platform. Building upon CEO Pavel Durov's earlier announcement, Stars offer users a convenient way to acquire digital goods and services from Telegram's mini-apps.

Stars: Facilitating Frictionless In-App Purchases

Designed for ease of use, Stars can be purchased directly within the Telegram app or through traditional iOS and Android in-app purchase systems using real (fiat) currency. This eliminates the need for complex cryptocurrency exchanges and allows users to seamlessly spend money on Telegram's mini-app offerings.

Beyond Entertainment: Expanding the Use Case for Stars

Currently, Stars can be used for acquiring digital products within popular Telegram mini-apps like Notcoin (a "tap-to-earn" app) and Hamster Kombat (a game). However, Telegram envisions a broader future for Stars, aiming to leverage this new feature to reach its massive user base of over 900 million people.

Stars Meet Toncoin: A Bridge Between In-App Currency and Crypto

Telegram recognizes the growing popularity of cryptocurrencies. To bridge the gap between Stars and the wider crypto ecosystem, they are introducing a conversion option. Developers will soon be able to convert their earned Stars into Toncoin (TON), Telegram's native cryptocurrency, on Fragment, the platform's marketplace for username auctions and in-app advertisements.

This conversion functionality allows developers to further monetize their mini-apps by exchanging their Stars for TON, which can then be traded for other cryptocurrencies, including Tether's USDT stablecoin, through Telegram's Wallet bot.

Strategic Partnerships and Incentives Drive Adoption

Building a robust in-app economy requires a strategic approach. In April, Telegram announced a partnership with Tether, the issuer of USDT, signaling their commitment to enhancing the commercial appeal of their platform. Furthermore, Telegram revealed plans to offer developers a generous 70% revenue share from in-app purchases made using Stars.

Durov Doubles Down: Subsidized Ads for Wider Reach

Taking things a step further, Telegram CEO Pavel Durov has elaborated on additional incentives to encourage Star adoption. Ads purchased using Stars will be subsidized by Telegram itself. This move aims to bypass the 30% commission typically charged by Apple and Google on in-app purchases, effectively reducing costs for both developers and users while promoting the wider use of Stars within the Telegram ecosystem.

Latest Telegram updates for 2024

Here's a compilation of the latest Telegram updates for 2024, incorporating information gleaned from credible sources:

May 2024:

• My Profile, Recommended Channels, and 15 More Features: A significant update introducing various functionalities, including the ability to view your own profile and display your channel information publicly. Additionally, Telegram introduced recommended channels based on user interests for easier discovery.

April 2024:

• Sticker Editor - Create Your Own Stickers: Unleash your creativity with the introduction of a powerful in-app sticker editor. This allows users to design and create unique stickers and entire sticker sets without leaving the Telegram platform.
• Introducing Telegram Business: Business accounts become a reality, enabling users to transform their personal accounts into business profiles. This unlocks access to features specifically designed for businesses, such as opening hours, location display, quick replies, and automated messages.

March 2024:

• Sharing Revenue with Channel Owners: A game-changer for content creators! Telegram introduced a generous revenue-sharing program. Channel owners can now receive up to 50% of the ad revenue generated from displayed ads within their channels.
• Stories for Groups and 8 More Features: Stories become a part of the group communication experience. Groups can publish stories and save them as posts, allowing for a dynamic and engaging way to share content within group settings. Additionally, eight other features were rolled out, but specifics are not readily available without further research.

January 2024:

• Saved Messages 2.0, One-Time Voice Messages and 8 More Features: Saved Messages received an upgrade, offering enhanced organization and functionality. A new feature introduced one-time voice and video messages, which self-destruct after being played by the recipient, adding a layer of privacy and security to ephemeral communication. Eight other features were also included in this update, but details remain limited.

Additional Notes:

• It's important to remember that Telegram rolls out updates frequently, so these might not encompass every single update released in 2024 so far.
• To stay updated on the latest features, you can visit the official Telegram blog (https://telegram.org/) or follow their social media channels.