In a subtle move, Telegram CEO, Pavel Durov, might have endorsed the Web3 game Notcoin. The game launched its native token NOT on The Open Network (TON) blockchain.
Notcoin’s Meteoric Rise
In a message to his over 9,000 followers on Telegram, Durov celebrated Notcoin’s success, emphasizing the advantage Telegram offers developers.
Notcoin, initially a simple mini-app on Telegram, allows users of the app to earn a virtual currency called “Notcoins” by merely clicking on the screen. The app took over the crypto world as its active user base surged to over 35 million.
Durov stated, “Notcoin, a Mini App on Telegram, reached 35 million active users in just a few months. This amazing success story shows how powerful the Telegram/TON ecosystems are for app developers.”
Notcoin’s launch involved a significant airdrop of over 80 billion NOT tokens following its debut on the TON blockchain. Users who participated in the game on their phones received NOT tokens at a 1000:1 conversion rate for their in-game currency.
Furthermore, nearly 800,000 NFT vouchers issued in a Pre-market trading phase are also convertible to NOT tokens at the same rate through the Notcoin app.
Telegram Founder Harps on Transformative Impact
Speaking on the revolutionary influence of Notcoin, Durov said, “Suddenly, Notcoin users who previously played just for fun could exchange their in-game currency for real money.”
Notably, 72.3 billion tokens have been distributed to miners, and approximately 8 billion tokens are redeemable by NFT voucher holders. The overall supply of NOT tokens stands at 102.7 billion, with 78% designated for early adopters. The remaining 22% is set aside for new users and future growth.
As per CoinGecko data, Notcoin’s market capitalization surged to $545 million. With over $1 billion in daily trading volume, Notcoins is among the top ten cryptocurrencies. Currently, around 678,000 on-chain wallets hold NOT tokens, as per Tonviewer data.
“Imagine — hundreds of millions of dollars in value were created for Telegram users in this Mini App out of nowhere in a matter of months. We are now seeing a large wave of new Mini Apps being built on Telegram and TON,” Durov stated.
The Notcoin team has monetized the Mini App by partnering with Web3 organizations, rewarding players for engaging with these projects.
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