Coin Edition -
- Telegram CEO Pavel Durov announced the launch of Telegram Stars, an in-app token focused on new payment methods.
- The Telegram Stars allows users to purchase digital goods and services on the platform.
- The in-app token is available on both Google and Android and is compliant with their crypto sales policies.
Telegram CEO, Pavel Durov, unveiled the platform’s new payment system for digital purchases. The innovative in-app token, Telegram Stars, allows users to purchase digital goods and services directly on the platform.
In a Telegram post, Durov shared insights into the platform’s innovative development, stating, “With Telegram Stars, mini apps can now accept payments for digital services using the most seamless payment method possible – in-app purchases on Android and iOS.” The CEO added:
“The recent mini app boom has already made Telegram the main destination to launch new apps. Stars and ad subsidies bring this to a new level – unprecedented in the history of social media.”
Notably, Durov has elaborated on the processes involved in purchasing goods via Telegram Stars. According to his post, app developers can swap their Stars for Toncoin (TON), the native token of Telegram’s The Open Network, through Fragment. Fragment is a platform primarily used by the community to buy and sell Telegram usernames.
As reported, Telegram Stars is available on both Google and Apple platforms. Telegram’s CEO explained the in-app payment system’s compliance with Apple and Google’s digital product sale policies, 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.”
Subsequently, Telegram released a post detailing the terms and policies of Telegram Stars. Emphasizing that it’s just the beginning of the system, the platform added, “Future updates will bring additional features and functionality to Stars – like gifts for content creators and more.”
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