Notcoin, a cryptocurrency focused on the Web3 space, recently launched the Notcoin Explore platform in an effort to jumpstart its growth and support fellow Web3 projects. This move comes as Notcoin faces a challenging market, with its value dropping over 38% in the past week.
The Notcoin Explore platform aims to be a launchpad for up-and-coming Web3 projects, leveraging the power of social media engagement. Users can discover and support these projects on the platform, potentially earning rewards in return. This initiative streamlines the startup process for Web3 projects by allowing them to quickly build an active user base.
According to Notcoin, Notcoin Explore has already facilitated the launch of over 200 projects, engaging a total of 22.5 million users. The platform emphasizes fostering a community-driven environment that benefits both projects and users.
Notcoin Struggles in Competitive Market
Despite the launch of Notcoin Explore, Notcoin’s market value has taken a significant hit. The cryptocurrency’s price has fallen by more than 38%, currently trading around $0.0945. This decline is largely attributed to growing competition within the tap-to-earn crypto sector. New projects like Hamster Kombat, Tapswap, Blum, and Dotcoin have captured user attention, posing a challenge to Notcoin’s market share.
Also Read: Notcoin Tumbles 6% In 24 Hours: Bullish Wedge Emerges But Can Buyers Halt Downtrend?
Hamster Kombat’s Meteoric Rise
Hamster Kombat, a prominent competitor in the tap-to-earn space, has experienced phenomenal growth. Telegram founder Pavel Durov himself highlighted the game’s rapid adoption, surpassing 200 million players since its launch in March 2024. Notably, Hamster Kombat achieved 100 million monthly users within just 73 days, showcasing its immense popularity within the Telegram mini-app ecosystem, which boasts a daily influx of 4-5 million new users.
Notcoin’s launch of the Notcoin Explore platform demonstrates their commitment to navigating the competitive Web3 landscape. Whether this initiative will be enough to counter the market downturn and rival projects like Hamster Kombat remains to be seen.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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