Telegram Stars Boosts App Monetization

Telegram Stars, a new payment system using ‘Stars’ for app monetization, integrated with TON, enhancing developer profits.

Telegram has introduced a new feature called Telegram Stars, designed to enhance the payment methods on the platform, particularly for application developers.

The purpose of this development is to streamline the monetization process for creators and developers who are currently on the platform.

Telegram Stars: A New Payment Gateway

Pavel Durov, the CEO of Telegram, announced the introduction of Telegram Stars. This payment system enables the procurement of digital products and services within the app on iOS and Android platforms.

The system employs an in-app currency known as “Stars” that can be exchanged for TON, the native token of The Open Work Network, on the Fragment exchange.

This feature ensures compliance with Apple and Google’s digital product sale policies while providing developers an alternative revenue model.

Developers who accumulate Stars may utilize them to promote their applications within the Telegram ecosystem. Durov identified one additional advantage of this system.

“Apple and Google take a 30% cut when users buy Stars from them, but Telegram will compensate the ads purchased with Telegram Stars. So, if developers spend Stars on promoting their app, the total commission will be close to zero.”

Subsequently, the subsidy renders it more profitable to introduce applications on Telegram than on platforms such as Apple or Google.

Enhancing Platform Utility and Developer Benefits

Telegram’s broader strategy to attract and retain developers by providing them with tools to monetize their applications effectively is reflected in the introduction of Telegram Stars.

Telegram is positioning itself as a competitive app development and deployment platform by reducing the effective commission rate to virtually zero through subsidies.

The introduction of Telegram Stars also demonstrates Telegram’s dedication to integrating blockchain technology into its services.

Although the company encountered numerous challenges in the cryptocurrency sector, such as the legal challenges that led to the abolition of its Telegram token, Gram, the company has maintained its commitment to blockchain technology.

The TON, incorporated into the Telegram Stars ecosystem, is used for transactions and withdrawals, demonstrating the practical application of Telegram’s blockchain.

Sphere Labs Enhances Telegram’s Financial Features

Simultaneously, Sphere Labs has introduced a new extension that alters how users interact with money within the application. By integrating banking functions, this extension simplifies transferring funds between bank accounts and e-wallets, enhancing the user experience.

It is expected to be a critical component of Telegram’s financial sector, as it features rapid and efficient transactions and requires a minimal fee of 0.1% per transaction.