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Telegram’s creator, Pavel Durov, unveiled Telegram Stars, a new feature designed to facilitate payments for digital services within its ecosystem.
In an announcement posted to his Telegram channel, Durov explained that Telegram bots and mini-apps, such as Notcoin, do not require installation, contributing to their rapid growth.
Telegram’s user base of 1.5 billion (as of 2024) allows these mini-apps to spread virally, reaching millions of users in just a few weeks.
With the introduction of Telegram Stars, mini-apps can now accept payments for digital services through in-app purchases on Android and iOS platforms. This feature provides a straightforward payment method for Telegram users.
Pavel Durov announced a new currency, Telegram Stars. With its help, you can purchase digital goods inside #Telegram and make donations to content authors. #PavelDurov #Telegram $STARS pic.twitter.com/ne9PRYdcVs
— ♠️Crypto Aces (@CryptoAcesEng) June 6, 2024
Developers of mini-apps can withdraw their Telegram Stars through Fragment using TON. Additionally, they can leverage these Stars to promote their apps on Telegram under favorable terms.
How Telegram Stars Work
While Apple and Google typically take a 30% commission on in-app purchases, Telegram plans to subsidize advertisements purchased with Telegram Stars.
If developers reinvest their Stars into promoting their app, the effective commission rate will be nearly zero. Durov believes this makes launching apps on Telegram more attractive than traditional mobile app platforms.
By introducing Telegram Stars, Durov’s company seems to aim to become a leading platform for new app launches. The associated ad subsidies could elevate this trend.
Telegram continues to innovate, providing developers with unique tools to reach and engage with a vast audience, further solidifying its place as a major player in the digital services market.
Telegram’s Efforts in Cryptocurrency
Several hurdles have marked Telegram’s journey into cryptocurrency. The company initially ventured into the crypto space with the launch of the Telegram Open Network (TON) and its native cryptocurrency, Gram.
This project aimed to create a decentralized platform for secure communication and transactions, leveraging Telegram’s vast user base to promote adoption.
Despite initial excitement, Telegram faced regulatory challenges that ultimately led to the discontinuation of the Gram token. However, the company did not abandon its blockchain aspirations. Instead, Telegram shifted its focus to supporting the development and integration of blockchain technologies within its ecosystem.
By enabling payments and withdrawals through a TON, Telegram provides a practical use case for its blockchain technology, potentially impacting the price of its native coin.
