Telegram introduces new inapp currency called Stars for digital transactions

Telegram has introduced a new feature called “Telegram Stars,” a token within the app that can be used to purchase digital goods and services.
According to Pavel Durov, CEO of the company, developers can now accept payments for services through mini-apps using the straightforward method of in-app purchases on both Android and iOS platforms.
In addition to being able to exchange Stars for Toncoin (TON), the cryptocurrency that powers Telegram’s “The Open Network,” developers can also use Stars to promote their apps on the platform.
Telegram will even subsidize advertisements purchased with Stars on Apple and Google, which typically take a 30% commission on digital product sales, in order to encourage developers to create more digital products on the platform.
The company plans to introduce new features for Stars in future updates, such as gifts for content creators.
Telegram has experienced significant success with its Notcoin (NOT) app, which attracted 35 million users within its first five months of launch. Notcoin is a token that users can earn by completing social challenges.
Over 400 million of Telegram’s 900 million users engage with Telegram bots and mini-apps each month.
In April, Telegram partnered with stablecoin issuer Tether (USDT) to launch USDT on the TON blockchain, aiming to increase cryptocurrency adoption through the messaging platform.
Despite reaching a peak price of $7.65, TON’s market value has since decreased to $7.50, with a market cap of $18.2 billion, still $7 billion lower than its peak in April.
In other news, a documentary about the collapse of FTX, priced at $2,500, is now available on Amazon Prime with assistance from the director’s mother.