Telegram, a popular messaging platform, has been making waves in the digital world, establishing itself as a leader in the development and promotion of mini-applications like Notcoin and TapSwap. On Friday, June 7, 2024, Telegram introduced a game-changing feature: the launch of its internal currency known as Stars, designed to streamline in-app transactions.
This new initiative comes at a perfect time, coinciding with an update to the Telegram bot platform, which now supports transactions not only for physical products but also for digital ones. This development opens up a world of opportunities for businesses looking to sell digital products such as e-books, online courses, and game items directly on the platform.
Users will have the option to purchase Telegram Stars through in-app purchases using payment methods available through Apple, Google, or Telegram’s PremiumBot. Pavel Durov, the CEO of Telegram, emphasized the significant impact of these new features, stating that the recent surge in mini-applications has made Telegram the go-to platform for launching new apps.
For developers, Stars offer a dual benefit: not only do they streamline transactions, but they also provide favorable conditions for promoting their apps on the platform. According to Durov, developers can convert Stars received through the platform’s Fragment into the TON cryptocurrency to finance the promotion of their applications.
One of the most appealing economic advantages offered by Telegram is the elimination of commissions typically charged by Apple and Google. While these companies usually take a 30% fee on Stars purchases, Telegram provides subsidies for ads bought with in-app currency, effectively reducing the commission to nearly 0%. This model not only encourages reinvestment in the platform but also makes app development on Telegram more financially feasible compared to other mobile platforms.
Telegram foresees that the convenience of fast and affordable payments for digital goods and services through its bot and mini-application platform will attract new business models, potentially reaching over 900 million active users.
In the future, additional features such as gifts for content creators will be integrated into the Telegram Stars system, further expanding possibilities for users and developers.
Disclaimer:
The opinions expressed in this article are for informational purposes only and do not constitute financial or investment advice. Investing in cryptocurrencies carries a risk of financial loss.
Editor’s Choice:
Coinbase Introduces Smart Crypto Wallet for Easy Access to DeFi
VeChain, Tesla, and EVearn Collaborate on Sustainability Initiative with Charge2Earn