Telegram Launches New Native Currency Telegram Stars
Telegram has introduced a new native currency called "Telegram Stars," designed for purchasing goods and services across Telegram's mini-apps.
Source: Pavel Durov
Users can acquire Stars directly on Telegram or through Apple and Google's app stores.
Telegram CEO Pavel Durov announced that soon developers will be able to withdraw Stars and convert them into Toncoin (TON) via the Fragment exchange.
The CEO also disclosed that Telegram will subsidize advertisements purchased with Stars on Apple and Google platforms. These tech giants currently levy a 30% commission on digital product sales revenue. Durov emphasized:
"If developers reinvest Stars in app promotion, the overall commission almost equals zero. Therefore, launching on Telegram is more economical than traditional mobile app releases."
According to statistics, over 400 million out of 900 million users engage with bots and mini-apps on Telegram each month. Particularly noteworthy is the success of Notcoin, a Tap-to-Earn game accumulating 35 million users within its first five months. Following recent major exchange listings, NOT's price surged by 50%, ranking fourth by trading volume in the overall market.
Meanwhile, Telegram's native coin TON has maintained momentum, achieving an all-time high (ATH) of $7.8 on June 5, bolstered by its listing on the Robinhood exchange.
Screenshot from CoinMarketCap at 12:35 PM on June 7, 2024.
