Coinspeaker Telegram Rolls Out ‘Stars’ for In-App Purchases
Popular messaging platform Telegram has announced the launch of its new product offering that allows users to buy in-app digital products on the platform. The new offering, dubbed Telegram Stars, is designed to enable both Android and iPhone users to buy their favorite eBooks, online courses, and other digital items through Telegram games and mini apps.
According to a recent announcement, users can make purchases using Apple, Google, or PremiumBot.
Supporting Developers
Mini apps on the platform, such as Notcoin (NOT), which is currently making waves in the crypto industry, will accept Stars from users buying any of its products and services directly on Telegram.
Telegram Stars can also be used in exchange for cryptocurrencies such as Toncoin (TON), the native virtual asset powering Telegram’s “The Open Network” blockchain.
Per the announcement, developers on the social media platform can choose to swap their Stars for any of the available digital assets endorsed by the company, which includes TON, through Fragment, a platform focused on buying and selling of Telegram usernames.
In a social media post accompanying the announcement, Telegram CEO, Pavel Durov, highlighted that developers have the opportunity to use Stars to promote their apps hosted on Telegram.
The Telegram boss also mentioned that the company will provide subsidies for ads paid for with Stars on Apple and Google, both of which charge a 30% fee on digital product sales.
He believes the move will provide a financial incentive for developers to create digital products on Telegram. “If developers reinvest Stars in promoting their app, the overall commission will be nearly 0%. As a result, launching apps on Telegram makes more economic sense than launching traditional mobile apps,” Durov said on his Telegram channel.
Telegram’s Future Plan for Stars
Telegram said that mini apps using Stars for in-house purchases stand a chance of reaching over 900 million users who use the platform to interact with their friends and family and for business purposes.
“With fast, user-friendly payments for digital goods and services, the bot and mini app platform will allow new types of businesses to reach over 900 million potential customers inside Telegram,” the company said.
The company plans to introduce more features to Telegram Stars to make it engaging for users. Some of these future plans include improving the product’s functionality for content creators. Telegram also plans to upgrade Stars to allow users to purchase gifts for their loved ones, colleagues at work, and their favorite content creators.
Meanwhile, Telegram has been making big moves since the beginning of this year, starting with the integration of The Open Network on the platform for empowering creators.
Since then, the layer-1 blockchain has experienced a series of milestones this year, including dethroning Cardano (ADA) to join the ranks of leading cryptocurrencies globally.
In April, Telegram introduced Toncoin Payments for crypto payments on the social media platform. The move aimed to boost the network’s on-chain activities.
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Telegram Rolls Out ‘Stars’ for In-App Purchases