Telegram’s new feature turns chat app into a digital marketplace: a game changer?

As a crypto investor with experience in the Telegram ecosystem, I’m excited about the potential transformative impact of Telegram Stars on the platform. With its user base of over 400 million interacting with bots and mini-apps monthly, Telegram has always been more than just a messaging app. The addition of digital goods and services to this mix broadens the platform’s scope significantly.

Telegram is evolving its messaging platform into a digital marketplace through the introduction of Telegram Stars. This means that users can now buy and sell content and services within the app, creating new opportunities for monetization and engagement.

As a crypto investor and active user of the Telegram messaging app, I’m thrilled about the recent addition of Telegram Stars. Now, I can not only connect with friends but also purchase digital goods such as e-books, online courses, or in-game items directly through the platform. This new feature was rolled out on June 6 and has significantly enhanced my experience on Telegram.

As a researcher studying the dynamics of communication platforms, I’ve discovered that Telegram stands out as a unique player in the market with its impressive user base of over 400 million individuals engaging with bots and mini-apps every month. This number is noteworthy because it signifies that Telegram transcends the role of a mere messaging app. Instead, it serves as a multifaceted platform where users can buy goods, access services, and even enjoy a game or two.

In the latest version, these bots and mini applications have been given the ability to trade digital merchandise and offerings. This includes items such as instructional materials for learning and artistic creations in a digital format.

In Telegram, you can obtain Stars by making in-app purchases on Apple and Google platforms or through PremiumBot. After acquiring these Stars, you’re able to utilize them on a range of digital items provided by various bots within the app. These Stars adhere to Apple and Google’s guidelines for digital transactions, resulting in seamless transactions.

In the not too distant future, developers will have the capability to exchange their accrued Stars for Toncoin (TON), Telegram’s digital currency, using Fragment. Subsequently, they can choose to sell their Toncoin on cryptocurrency exchanges or keep it as an investment.

To give you a bit of context, Telegram has long supported the sale of physical products via bots and mini apps, accepting payments from around the globe. 

As a crypto investor, I’m excited about the expansion of the platform with the inclusion of digital products. Personally, I think this will bring more opportunities for users and creators alike. Moreover, I’m looking forward to seeing how Telegram plans to enhance Stars, possibly with new features like rewarding content creators with virtual gifts.

What really is happening and why?

As an analyst, I’d rephrase it this way: From an economic perspective, Pavel Durov, the CEO of Telegram, has brought up an issue regarding the significant 30% commission charged by Apple and Google when users make purchases of Stars on their respective platforms. In response, Telegram has devised a creative solution to this fee.

Durov announced that Telegram will reimburse developers for ads bought using Telegram Stars. This implies that if developers choose to use their earned Stars to advertise their apps within Telegram, they can essentially reduce the commission fees close to zero.

Telegram. By choosing this messaging app as your platform, you stand to save costs in various ways.

This method is in line with the current surge of mini apps on Telegram, making it a popular destination for introducing new applications. Durov himself described this phenomenon as “unprecedented in the realm of social media.”

Let’s explore some noteworthy examples of achievement within the Telegram community to grasp the possible implications.

In the span of merely five months, Notcoin (NOT), an widely-used app that rewards users with tokens upon completion of social tasks, managed to attract an impressive user base of 35 million individuals. Likewise, Hamster Kombat, a captivating crypto management simulation game, has amassed an astonishing 60 million users since its debut in March.

In the past few days, Notcoin has experienced significant growth, reaching a market capitalization of over $2 billion. This makes it the biggest gaming token introduced in 2024 so far, and one of the ten largest coins based on market value.

As an analyst, I’ve observed that both applications have successfully utilized Telegram’s platform to experience significant expansion. The advent of Telegram Stars has further opened up enticing opportunities for emerging apps.

As a crypto investor, I’ve noticed that Telegram has been actively participating in the crypto world. Recently in April, they introduced Tether (USDT) on the TON blockchain with the goal of increasing cryptocurrency adoption.

In the near future, developers on the TON blockchain can look forward to cashing out their accrued Stars, which is Telegram’s favored cryptocurrency, via Fragment, Telegram’s platform for trading in-app usernames and ads.

Additionally, the value of Toncoin has experienced a significant surge. On Wednesday alone, TON reached its all-time high price of $7.76, and its market capitalization approached $18 billion, positioning it as the tenth largest cryptocurrency by value.

The significant rise in TON can be attributed in part to heightened whale involvement, as transactions valued over $100,000 experienced a notable surge of 237.5% on June 3 – merely a few days prior to the unveiling of Telegram Stars.

As a researcher studying Toncoin transactions, I’ve noticed an impressive surge of 237.5% within the last 24 hours in large Toncoin transactions valued over $100,000. This substantial uptick in whale activity implies strategic moves in their investments and positions.

— Ali (@ali_charts) June 3, 2024

What’s next for Telegram and its ecosystem? 

As a crypto investor in the Telegram ecosystem, I’m excited about the prospect of seeing an influx of new and innovative mini-apps due to the reduced promotion costs offered by Telegram Stars. This could lead to even greater user growth for the platform.

As the user base expands for these applications, so does the opportunity for generating and utilizing Stars, thereby establishing a novel commercial platform.

As a researcher studying the cryptocurrency market trends, I can’t help but notice the growing buzz around Toncoin. With its recent significant price increase and the simplicity of exchanging Stars into Toncoin, it seems poised to gain even more traction among investors and users alike.

As a researcher exploring the intersection of cryptocurrencies and communication platforms, I believe that by continuing to develop innovative solutions and fostering collaborations with key industry players, Telegram has the potential to significantly expand its presence within the digital economy. Such efforts could result in increased partnerships and integrations, ultimately reinforcing Telegram’s influential role in this dynamic and ever-evolving landscape.

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2024-06-07 18:44