Telegram Unveils Ton-Associated ‘Stars’ Currency After Toncoin Attains an All-Time High
Mini application developers on Telegram can sell digital services and goods for Stars, which can be changed into Toncoin.
On June 6, Pavel Durov, Telegram’s chief executive officer, made good on a promise earlier this year by announcing a new in-app that will ease buying digital services and goods in Telegram mini apps within a crypto-supported ecosystem.
Stars App Facilitating Digital Products Purchase
Stars, the in-app currency, is available for purchase using fiat currency via in-app purchases within Telegram itself or through Android and iOS. Stars can later be utilized to buy digital products within Telegram mini-applications, such as Hamster Kombat and Notcoin, found on famous messaging applications.
In a blog post, the firm noted that with quick and user-friendly payments for digital goods and services, the mini app platform and bot will permit new businesses to attain more than 900 million potential clients inside Telegram.
Further, Durov claimed that developers on Telegram will soon be able to withdraw their Stars in Toncoin (TON), Telegram’s preferred cryptocurrency on The Open Network. The transfers will happen on Fragment, Telegram’s marketplace for advertisements and in-app usernames.
Afterward, vendors and developers can exchange their TON for other cryptocurrencies, such as USDT, the globe’s biggest stablecoin, through the Wallet bot on Telegram. In April, Durov revealed that Telegram was collaborating with Tether, the USDT issuer, in a strategy meant to significantly boost the attractiveness of conducting business on privacy-concentrated messaging applications.
At the Token 2049 crypto conference in Dubai, Durov divulged that Telegram would soon back the in-app buying of digital services and goods, with developers pocketing 70% of income from such transactions.
Additionally, he revealed that Telegram will finance ads bought using Stars to boost the utilization of the currency and avert the repetitive collection of 30%commissions on new in-application Stars purchases by Google and Apple.
Consecutive Launches in Telegram Ecosystem
Durov claimed that the latest mini-app boom had made Telegram the primary destination for unveiling new applications. Ad subsidies and Stars have led to a new level unique in social media history.
Lately, crypto-associated initiatives within the Telegram ecosystem have been recurrently successful. Hamster Kombat, a mini app that revealed intentions to airdrop a TON-founded token to players, has swiftly become crypto’s most recent gaming fixation.
In the meantime, the cryptocurrency linked to Notcoin, an identical in-app Telegram game, rose past a $2B market cap. So far, NOT has also been the most prominent gaming token unveiled. The buzz boosts Toncoin’s price. Early July 5, TON attained $7.76, its highest price ever. It is above $18B in market capitalization, making it the tenth most valuable crypto on the market.
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