- Telegram has introduced a new payment method called Telegram Stars.
- The initiative significantly reduces app commission costs, offering a competitive edge for developers.
- This feature aligns with existing app store policies, ensuring smooth integration for users and developers alike.
Discover how Telegram’s new payment system, Telegram Stars, revolutionizes app monetization by integrating blockchain technology, enhancing developer profits, and simplifying transactions.
Telegram Stars: A New Era in App Monetization
Telegram CEO Pavel Durov has announced the launch of Telegram Stars, a versatile payment system designed for purchasing digital goods and services within the Telegram app. Available on both iOS and Android, this system employs an internal currency called “Stars,” which can be exchanged for TON tokens on the Fragment exchange.
This initiative ensures compliance with Apple and Google’s app store regulations while offering developers a profitable alternative revenue stream. Developers can earn Stars and use them to advertise their apps within Telegram, reducing effective commission rates to nearly zero.
Why Telegram Stars is a Game-Changer
The introduction of Telegram Stars marks a significant leap in Telegram’s strategy to attract and retain developers. By subsidizing the cost of advertising, the platform effectively lowers the commission developers would otherwise pay to Apple or Google, making Telegram an attractive platform for app launches. As Durov pointed out, developers can benefit from near-zero commission rates, boosting their profitability significantly.
Blockchain Integration and Developer Benefits
Telegram Stars is part of a broader effort to integrate blockchain technology within Telegram’s services. Despite past legal challenges, particularly regarding the Telegram Open Network (TON) and its initial Gram token, the company remains committed to leveraging blockchain for real-world applications.
In the Telegram Stars ecosystem, TON tokens facilitate transactions and withdrawals, underlining the practical utility of Telegram’s blockchain technology. This not only streamlines in-app purchases but also enhances transparency and efficiency, benefiting developers and users alike.
Sphere Labs’ Contribution to Financial Services
Sphere Labs has rolled out a new extension designed to enhance financial transactions within the Telegram app. This extension allows seamless money transfers between bank accounts and e-wallets, charging a minimal fee of 0.1% per transaction. This addition is particularly valuable for users in non-sanctioned countries with USD or EUR bank accounts, making Telegram’s financial features more accessible and convenient.
The low transaction fees and improved ease of use make this extension a critical component of Telegram’s financial strategy. It aims to provide users with an efficient and cost-effective alternative for managing their financial transactions.
Conclusion
Telegram’s launch of the Telegram Stars payment system signifies a major advancement in app monetization and blockchain integration. By offering developers a nearly commission-free platform and integrating TON tokens for transactions, Telegram enhances its appeal as a competitive app development environment. With additional features from Sphere Labs, Telegram is set to revolutionize financial transactions on its platform, providing significant advantages for developers and users alike.
