Telegram has launched a new in-app payment mechanism called “Stars.”
TakeAway Points:
- Telegram has introduced a new in-app payment system called “Stars” to support its growing ecosystem.
- This feature upholds Google’s and Apple’s policies regarding the sale of digital products while fostering a resilient internal economy.
Telegram Stars
Telegram will subsidise advertisements purchased with its new “Stars” currency, even though in-app transactions on Apple and Google platforms typically incur a 30% cost.
Telegram Stars, which is compatible with iOS and Android, enables users to make purchases from within the mini-apps on the platform. This feature upholds Google’s and Apple’s policies regarding the sale of digital products while fostering a resilient internal economy. Moreover, users can use the fragment exchange to convert their Stars into TON, The Open Network’s native coin.
Telegram and Tether, the top stablecoin issuer, established a partnership in April during the Token 2049 conference in Dubai (USDT). Through this collaboration, Telegram will hopefully become an even more alluring venue for business dealings. Telegram’s planned introduction of in-app purchases for digital products and services, which would give developers a substantial 70% revenue split, is also promising.
In-app Purchase Refined
According to the report, Telegram is redefining in-app purchases. In contrast to Apple and Google, which typically charge a 30 percent commission, Telegram has announced that it will subsidise advertising bought using Telegram Stars, a new in-app currency. This action might drastically lower developers’ overall fees.
CEO Pavel Durov recently underlined the financial advantages of growing their platform in a Telegram post. Durov said that developers might easily eliminate commission costs by reinvesting Telegram Stars in app promotion. This competitive advantage over traditional mobile app shops may encourage developers to give Telegram’s platform top priority.
The article also highlighted how Mini App developers might use Fragment to convert Telegram Stars to Ton coin.
In-app purchases for digital products and services have resulted in a major expansion of Telegram’s Bot Platform. With over 400 million monthly users regularly utilising bots and mini-apps, this step broadens the Telegram ecosystem.
Generating Income with Telegram Stars
Developers of mini-apps and bots now have a new source of income thanks to the ability for users to buy Telegram Stars directly within the app. By enabling users to purchase a wide range of digital goods and even in-game items with these Stars, the Telegram ecosystem offers a more engaging user experience.
It is simple to buy Telegram Stars with real money on iOS, Android, or even through Telegram itself within the app. This creates a new avenue for users to purchase digital products through Telegram’s mini-apps, such as Hamster Kombat and Notcoin.
Notcoin is a prime example; in just five months after its introduction, it attracted 35 million users and went viral. Through the completion of social tasks, users of this “tap-to-earn” app can win NOT tokens, making for an enjoyable and engaging user experience.
TON hit a new all-time high of $7.65 about 36 hours ago, but it has since dropped to $7.55. Its market valuation of $18.2 billion, however, is still $7 billion less than its April 12 top of $25.2 billion.
