Quick Take: Telegram Stars lets users pay for digital services on Telegram through in-app purchases on iOS and Android. App developers can exchange their stars for TON using the Fragment exchange.
Pavel Durov, the CEO of Telegram, announced a new innovative payment system for digital goods and services on Thursday. This groundbreaking system, called Telegram Stars, offers users a seamless way to pay for digital services directly through in-app purchases on both iOS and Android devices.
A New Era for Digital Payments on Telegram
The introduction of Telegram Stars is a significant step forward for the messaging platform. This feature allows users to make payments for digital services within Telegram, enhancing the user experience and providing a new revenue stream for developers. Users can purchase stars, which can then be used to pay for a variety of digital services within the app.
How Telegram Stars Works
Telegram Stars operate similarly to other in-app purchase systems. Users can buy stars through the iOS and Android app stores, which comply with the digital product sale policies of Apple and Google. However, what sets Telegram Stars apart is its integration with The Open Network (TON). Developers can exchange their earned stars for TON tokens using the Fragment exchange. This unique feature bridges the gap between traditional in-app purchases and blockchain technology.
Addressing Platform Fees
One of the standout aspects of Telegram Stars is how it addresses the 30% commission that Apple and Google charge for in-app purchases. Pavel Durov highlighted this issue in his announcement, stating, “Apple and Google take a 30% cut when users buy Stars from them, but Telegram will subsidize ads purchased with Telegram Stars. So 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.”
This subsidy means that developers who use their stars to buy ads on Telegram will effectively pay little to no commission, making it a highly attractive option for developers.
Success Stories: Notcoin
The effectiveness of Telegram Stars is already evident. Notcoin, a popular app on Telegram, launched in January and quickly gained traction, amassing nearly 35 million players by mid-May. This success story exemplifies the potential reach and profitability for developers using the Telegram Stars system.
Telegram Stars represents a significant advancement in the digital payment landscape within messaging platforms. By integrating a native token exchange and addressing high commission fees, Telegram offers a compelling alternative for developers and users alike. As the platform continues to evolve, it will be interesting to see how Telegram Stars shapes the future of digital transactions.
