Telegram Launches Stars Coin to Facilitate Digital Payments with New Economic Advantages

The Telegram messaging platform has been standing out on the digital scene, consolidating itself as a reference for the development and popularization of mini-applications such as Notcoin and TapSwap. Telegram presented a significant new feature on Friday, June 7, 2024: the launch of the internal currency, known as Stars, aimed at simplifying transactions within the application.

This initiative comes at an opportune time, coinciding with an update to the Telegram bot platform, which now supports transactions not only for physical products, but also digital ones. This opens up a range of possibilities for companies around the world that want to sell digital products, such as e-books, online courses and gaming items, directly on the platform.

Users will be able to purchase Telegram Stars through in-app purchases using payment methods available through Apple, Google or Telegram’s PremiumBot. “The recent boom in mini-applications has already made Telegram the main destination for launching new applications”, highlighted Pavel Durov, CEO of Telegram, highlighting the transformative impact of these new features.

For developers, Stars offer a double benefit: in addition to facilitating transactions, they provide preferential conditions to promote their applications on the platform. According to Durov’s post, developers can convert Stars received through the platform’s Fragment using the TON cryptocurrency, in order to finance the promotion of their applications.

One of the most attractive economic advantages introduced by Telegram is the compensation of commissions normally charged by Apple and Google. While these companies charge a 30% fee on Stars purchases, Telegram offers subsidies for ads purchased with in-app currency, reducing the effective commission to almost 0%. This model not only encourages reinvestment in the platform but also makes application development on Telegram more economically viable compared to other mobile platforms.

Furthermore, Telegram predicts that the ease of fast and affordable payments for digital goods and services through its platform of bots and applets will attract new business models, potentially reaching more than 900 million active users.

In the future, additional features, such as gifts for content creators, will be integrated into the Telegram Stars system, further expanding the possibilities for users and developers.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.