Telegram Rolls Out ‘Stars’ for In-App Purchases

As a seasoned crypto investor and long-time Telegram user, I’m thrilled about the recent announcement of Telegram Stars and its potential impact on the platform. Telegram has always been known for its innovative approach to social media and messaging, and this new feature is no exception.

Telegram, a widely-used messaging service, has unveiled its latest feature: Telegram Stars. With this innovation, users can now purchase digital goods directly within the app, including eBooks, online courses, and more. This functionality is compatible with both Android and iPhone devices, expanding the shopping experience through Telegram’s games and mini applications.

According to a recent announcement, users can make purchases using Apple, Google, or PremiumBot.

Supporting Developers

On Telegram, mini applications like Notcoin (NOT) function as alternatives. Users can pay for Notcoin’s goods and services directly using Stars within this platform.

Telegram Stars, an alternative currency within Telegram, can be traded for cryptocurrencies like Toncoin (TON). In simpler terms, you can use Stars to acquire Toncoin on Telegram’s platform.

According to the statement, developers on the social media site have the option to trade their Stars for any of the supported digital assets offered by the company, such as TON, via Fragment – a marketplace specialized in buying and selling Telegram usernames.

In a social media update accompanying the announcement, Telegram’s CEO, Pavel Durov, brought attention to the fact that developers can utilize Telegram’s Stars feature to showcase and boost their apps.

The Telegram CEO revealed that the platform would offer discounts on ads purchased using Stars for advertising on Apple and Google markets. However, it’s important to note that Apple and Google apply a commission fee of 30% on digital product sales.

According to Durov’s statement on Telegram, developers stand to gain significant financial advantages if they invest the Stars earned from their apps back into promoting them on the platform. Consequently, developing digital products for Telegram could be a more economically sound choice than creating traditional mobile apps, as the overall commission rate would be close to zero.

Telegram’s Future Plan for Stars

Telegram revealed that mini apps on its platform which employ Stars for internal transactions have the potential to tap into a user base exceeding 900 million strong. These individuals utilize Telegram not only for personal interactions with friends and family but also for business engagements.

“I. By offering swift and convenient payment solutions for digital products and services, our bot and mini app platform within Telegram will enable novel businesses to tap into a customer base of approximately 900 million users.”

Telegram is looking forward to enhancing the user experience of Telegram Stars by adding new features. For content producers, this means better tools to create and manage their content. Additionally, Telegram intends to enable users to buy gifts for their dear ones, work colleagues, and preferred content creators using Stars.

Since the start of this year, Telegram has taken significant strides, initiating with the addition of The Open Network to enhance creators’ experiences within the app.

After that, the primary blockchain has achieved several significant accomplishments this year, such as surpassing Cardano (ADA) to become part of the elite cryptocurrencies in the global market.

In April, Telegram implemented Toncoin as a payment option for cryptocurrency transactions within its social media platform. This initiative was taken to increase on-chain actions on the network.

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2024-06-07 11:12