Original title: Telegram Launches New Ways for Creators to Earn TON Tokens

Original author: Mat Di Salvo

Original source: decrypt.co

Compiled by: Mars Finance, Eason

Telegram has launched new features to help content creators earn TON (The Open Network) tokens directly through the app.

The update allows users to send feedback on content shared by creators, such as posts, videos or other media, which can be converted into TON tokens, a cryptocurrency.

Telegram. Image: Shutterstock

Messaging app Telegram is moving further into the crypto space with the launch of a new feature that allows content creators to earn Toncoin (TON), the native cryptocurrency of The Open Network.

Telegram’s development team said on Wednesday that users can now react to content creators and channels by sending “Stars” — an off-chain in-app currency pegged to TON — which can then be converted to TON. If the users receiving the Stars don’t want TON, they can also use them to pay for advertising.

Telegram and independently operated The Open Network are working together to transform the messaging app, which has nearly 1 billion users, into a crypto-friendly platform with accompanying mini-apps.

The announcement states that channel operators will “receive 100% of the Stars,” whether they ultimately decide to convert them into TON or use them to pay for advertising. In addition, users who send Stars must first purchase those Stars through the paid reactions feature within the app.

According to CoinGecko, TON is the ninth-largest digital asset with a market cap of $17.7 billion. It is currently priced at $7.04, up 9% in the past day.

The Open Network was originally created internally by Telegram, but Telegram abandoned the project in 2020 due to a lawsuit from the U.S. Securities and Exchange Commission (SEC). However, independent developers continued to develop the network, and it has gradually come to prominence over the past year due to crypto games and other applications.

Although Telegram does not run the TON network, it has embraced TON in many ways on its platform and integrated the cryptocurrency into its platform in areas such as advertising.

In addition, Telegram also provides other features, such as the ability to send Bitcoin and USDT to users. These features were not conceived by Telegram itself, but were designed and implemented by other developers.