03 Jul

Telegram, the popular messaging platform, has recently announced an exciting new feature for its mini app developers. Developers can now convert their earned Stars, Telegram's virtual currency, into Toncoin (TON), the native cryptocurrency of The Open Network, or use them to purchase discounted advertisements on the platform.

This move comes nearly a month after Telegram initially introduced Stars in early June. Stars are exchangeable virtual points that users can purchase with fiat currency to use within mini-apps. With this new feature, developers now have a way to monetize their Stars by exchanging them for cryptocurrency or using them to promote their mini-apps to a wider audience.

According to Telegram's blog post, "Bot developers offering digital goods and services and creators monetizing their channels with paid posts are now able to use the Telegram Stars they earn to receive rewards in Toncoin or buy Telegram Ads." The platform takes minimal commission from transactions in Stars, so only taxes and payment system fees apply. Additionally, Telegram offers a 30% discount on advertisements purchased with Stars, further incentivizing developers to use this feature.

This new feature is a significant development for Telegram's growing mini-app ecosystem. It provides developers with more options to monetize their creations and reach a larger audience. The ability to convert Stars into TON also opens up new possibilities for using cryptocurrency within the Telegram platform.

This update is expected to drive further growth and innovation within the Telegram mini-app ecosystem. By providing developers with more tools and incentives, Telegram is positioning itself as a leading platform for developing and monetizing mini-apps.

Overall, Telegram's introduction of the Star-to-TON swap feature is a positive step for both developers and users. It provides developers with more flexibility and opportunities, while also giving users more ways to engage with and support their favorite mini-apps.

July 2024, Cryptoniteuae

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