Telegram’s chat software marketplace: Envision yourself chatting with pals and purchasing digital things like e-books, online courses, or in-game goodies through Telegram’s messaging software. Launched on June 6, this is a reality thanks to Telegram Stars. Telegram has been more than simply a chat service for all its time. Every month, more than 400 million users engage with bots and mini-apps. Many people use it to play games, buy stuff, and access services. The latest version adds the ability for these bots and micro apps to sell digital items, such as digital art and e-learning tools.
You can acquire Telegram Stars through PremiumBot or in-app purchases on iOS and Android. Various bots will offer digital things for sale after you get enough Stars. Telegram Stars follows Apple’s and Google’s rules to ensure all digital sales go smoothly. Eventually, developers can use Fragment to turn their Stars into Telegram’s cryptocurrency, Toncoin (TON). They can then either keep them as investments or sell them on exchanges.
Just so you know, Telegram has always allowed users to buy tangible goods using bots and small applications, and they’ve accepted payments from all across the world. The platform’s reach has grown with the inclusion of digital products. Additional features, such as prizes for content creators, will be added to Telegram Stars shortly.
What is happening and why?
Let’s begin with the financial aspect. When customers purchase Stars from their platforms, Apple and Google receive a substantial 30% commission, according to Pavel Durov, CEO of Telegram. On the other hand, Telegram offers an ingenious fix. Ads sold using Telegram Stars will receive subsidies, like. By promoting their apps within Telegram using their earned Stars, developers can offset the commission fees and reduce the overall commission to almost $0.
Telegram may offer a more cost-effective option for app launches and promotions than more conventional mobile platforms. This strategy aligns with the current popularity surge of Telegram’s micro apps. Thanks to these small apps, Telegram’s chat software marketplace has quickly become the platform of choice for app launches. “Unprecedented in the history of social media,” Durov went so far as to accuse it of being.
Let’s examine a few examples of success within the Telegram ecosystem to grasp the possible influence. The famous software Notcoin (NOT) reached 35 million users in under five months. The game allows users to earn tokens by performing social activities. Similarly, 60 million people have downloaded the crypto management simulation game Hamster Kombat since it came out in March. Notcoin is now one of the top ten coins by market cap and the essential gaming token introduced in 2024, having recently climbed beyond a $2 billion market cap.
Also Read: Solana-Based Sphere Labs Adds Telegram Banking
These two apps have increased thanks to Telegram’s platform. New app possibilities have never been brighter than with the launch of Telegram Stars. Even in the cryptocurrency market, Telegram’s chat software marketplace has been a significant player. Tether (USDT), built on the TON blockchain, was released in April to increase the use of cryptocurrencies. Developers will soon be able to cash out their Stars in TON, the cryptocurrency of choice on Telegram, through Fragment, the marketplace for in-app usernames and ads.
Additionally, Toncoin has experienced an enormous surge in value. On Wednesday, TON reached a high of $7.76, elevating it to the tenth most valuable cryptocurrency by market cap, approaching $18 billion. Transactions exceeding $100,000 spiked by 237.5% on June 3, days before the launch of Telegram Stars, contributing to the jump in TON.
What’s next for Telegram and its ecosystem?
Anticipate a surge of mini-apps and a substantial increase in users. Developers are expected to pour new and inventive apps onto the Telegram network due to the lowered promotion expenses offered by Telegram’s chat software marketplace Stars. The possibility of earning and spending Stars will increase as these apps’ users increase, thereby generating a new marketplace.
Toncoin’s usage may also increase. Its popularity will only grow with its recent price spike and the convenience of turning Stars into TON. When put together, these factors can potentially increase the number of crypto-related collaborations and integrations, strengthening Telegram’s digital economy position.
