- Telegram has unveiled a new currency for payments within its platform.
- The newly launched Stars will enable payments for digital services across the ecosystem.
- Telegram will roll out additional features in the future.
The messaging platform Telegram has been generating significant buzz lately. It is emerging as the go-to destination for trending mini-apps like Notcoin and TapSwap, many of which are experiencing a surge in popularity among users.
Capitalizing on this momentum, Telegram has unveiled the latest addition to its platform.
Telegram Stars Debut
On Friday, June 7, 2024, Telegram unveiled Stars, an in-app currency designated to facilitate digital transactions.
Sponsored
The launch coincides with Telegram’s update of its Bot Platform to support payments for digital products in addition to physical products. This allows businesses to sell digital goods and services globally through bots and mini-apps on the platform.
Telegram Stars, obtainable through in-app purchases via Apple, Google, or Telegram’s PremiumBot, can facilitate these services, including the purchase of digital products provided by bots, such as e-books, online courses, and items within Telegram games.
Commenting on the launch, Telegram CEO Pavel Durov stated that “the recent mini app boom has already made Telegram the main destination to launch new apps,” adding that Stars and ad subsidies bring this to a new level.”
Sponsored
Mini-app developers are also poised to benefit from the newly implemented currency.
Stars’ Benefits for Developers
According to the CEO’s Telegram post, mini application developers can withdraw their received Stars via the platform’s Fragment using TON. He added that the currency can also be used to promote their applications further across the platform on preferential terms.
The platform introduced an additional economic benefit. Telegram highlighted that although Apple and Google charge a 30% commission when users purchase Stars from them, Telegram will subsidize ads bought with Telegram Stars. Therefore, if developers reinvest Stars in promoting their app, the overall commission will be almost 0%, making apps launched on Telegram more economically viable than traditional mobile apps.
Emphasizing the promising reach its platform offers, the firm added that “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.”
Additional features, such as gifts for content creators, will be rolled out for Telegram Stars in the future. DailyCoin reached out to Telegram for comment on the Stars launch but has yet to receive a response.
Read more about this Telegram-linked wallet and the growing buzz around it:
Telegram-Linked Tonkeeper Wallet Tops Google Play Store
Here’s how Binance is reinstating its card services post-regulatory troubles:
Binance Enables Mastercard Payment as it Restores Card Feature
