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Notcoin, a web3 game built on Telegram, has taken the crypto world by storm, reaching a top-10 position in daily trading volume and a staggering $700 million fully diluted valuation. This meteoric rise comes on the heels of its launch on The Open Network (TON) blockchain and a public endorsement from Telegram CEO Pavel Durov.
Durov lauded Notcoin’s “amazing success story” in a message to his millions of Telegram followers, highlighting its ability to attract 35 million active users within months. He sees Notcoin as a testament to the power of the Telegram/TON ecosystem for app developers.
From Play to Earn: NOT Token Airdrop Fuels Growth
Notcoin players initially “mined” in-game currency by tapping an icon. Now, these accumulated coins have been converted into tradable NOT tokens on various crypto exchanges. Additionally, holders of pre-market NFT vouchers can also convert them into NOT tokens. This distribution has resulted in over 72 billion NOT tokens being distributed to miners and NFT holders, with a significant portion reserved for future development and user acquisition.
The airdrop of NOT tokens triggered a surge in activity. Notcoin skyrocketed to a top-10 position in daily trading volume, surpassing $1 billion. Additionally, over 678,000 wallets now hold NOT tokens, showcasing widespread user participation.
Durov: “Hundreds of Millions Created Out of Nowhere”
Durov expressed his surprise at Notcoin’s success, emphasizing how “hundreds of millions of dollars in value were created for Telegram users in this Mini App.” He believes this paves the way for a wave of new mini-apps to be built on Telegram and TON.
Notcoin plans to continue rewarding users for exploring the crypto ecosystem with NOT tokens. The introduction of a trading bot will further expand its functionality, allowing users to trade other TON-based tokens.
This success story comes after Telegram’s own tumultuous history with blockchain. After abandoning its TON project due to regulatory hurdles, it’s clear that Durov remains interested in the space. His personal holdings in Toncoin further solidify this interest.
Notcoin’s $6.8 Million Donation to Telegram
Adding another layer to the story, Notcoin recently donated $6.8 million worth of NOT tokens to Durov and Telegram. While the motives remain unclear, it has undoubtedly generated further conversation and speculation.
Notcoin’s story is a fascinating example of innovation within the Telegram and TON ecosystems. Whether it can sustain its momentum remains to be seen, but one thing is certain: Notcoin has become a force to be reckoned with in the crypto world.
