Notcoin, the game token that can be played directly on the messaging app Telegram, has released its NOT token on the TON (The Open Network) blockchain. Following the token airdrop, the project has generated over $1 billion in trading volume, making it the largest game token release of 2024 thus far.
Notcoin is a simple game where players can mine by clicking the icon in the middle of the screen in the group after joining Notcoin’s Telegram bot through an invitation link. Since its launch on January 1, 2024, the number of participants has exceeded 30 million.
According to CoinGecko, the current price of the NOT token is approximately $0.007 per token, with around 35 million players earning NOT tokens through playing Notcoin. Moreover, exchanges Binance and OKX have both launched staking activities to exchange for NOT tokens before the token release.
However, as more players receive and sell their tokens on the market, the token price has rapidly declined. CoinGecko and CoinMarketCap record different high points for the token price, with CoinGecko displaying a high of $0.0215 and CoinMarketCap showing a lower high of $0.0144.
This has also resulted in different market capitalizations at the token’s highest price. CoinGecko shows a market capitalization of $2.21 billion at the highest price, while CoinMarketCap records over $1.48 billion.
According to analysis by Decrypt, Notcoin’s performance has surpassed other competitors in the largest game token release of 2024, making it the token with the highest market capitalization. CoinGecko’s data shows that Pixels (PIXEL) ranks second with a peak market capitalization of $731 million, followed by Saga (SAGA) with $684 million.
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Simple gameplay and integration with the massive TON ecosystem are the keys to success
Notcoin’s gameplay is simple, where players can start mining coins by collecting coins on the screen, and completing tasks can increase rewards. It can be said that players can start earning coins without any barriers.
However, besides the simple gameplay, the most crucial factor is that Notcoin is built within the TON ecosystem, with Telegram, which has over 900 million monthly active users, being the driving force behind TON. In fact, Notcoin’s founder, Sasha Plotvinov, is also a member of the TON Foundation. In an interview, he mentioned that the initial goal was simply to introduce Telegram’s vast user base to the world of cryptocurrencies.
Plotvinov believes that Notcoin has a high social component, including competitions, leaderboards, and team formations. Playing on Telegram makes it easy for players to invite friends or form teams. Plotvinov explained that this is the reason why Notcoin has driven the community crazy, with even 53,000 communities competing with each other to dominate the Notcoin rankings.
Plotvinov also revealed that the Notcoin team had no marketing budget, and everything happened naturally. Furthermore, up to 94% of Notcoin players come from player referrals.
Sources:
Decrypt, CoinTelegraph