Social messaging platform Telegram has introduced “Telegram Stars,” a new in-app token designed for purchasing digital goods and services.
“With Telegram Stars, mini apps can now accept payments for digital services using the simplest payment method possible – in-app purchases on Android and iOS,” announced Pavel Durov, Telegram’s CEO, in a Telegram post on June 6.
Developers have the option to exchange their Stars for Toncoin (TON), the native cryptocurrency of Telegram’s “The Open Network,” through Fragment, a platform primarily used for trading Telegram usernames.
“They can also use Stars to further promote their apps on Telegram,” added Durov.
To bolster developer engagement, Telegram will subsidize advertisements purchased with Stars on both Apple and Google platforms, which typically take a 30% commission on digital product sales. This initiative aims to make developing for Telegram more economically attractive.
“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 explained.
Telegram also hinted at future updates, promising additional features and functionalities for Stars, including gifts for content creators and more.
The platform has already seen substantial success with Notcoin (NOT), one of its most popular apps, which garnered 35 million users within its first five months.
With the introduction of Telegram Stars, the company hopes to further enhance its ecosystem and provide developers with new ways to monetize and promote their digital products.
