Notcoin, a game token that can be played directly on the Telegram messaging app, has recently launched its NOT token on the TON (The Open Network) blockchain. Since the token airdrop, it has generated over $1 billion in trading volume, making it the largest game token release of 2024 so far.
Notcoin is a simple game where players can mine by clicking on the icon in the middle of the screen within a Telegram group. Since its launch on January 1, 2024, the game has attracted over 30 million participants.
According to CoinGecko, the current price of the NOT token is approximately $0.007 per token. There are currently around 35 million players who have earned NOT tokens by playing Notcoin. Additionally, cryptocurrency exchanges Binance and OKX have both organized activities allowing users to stake and exchange for NOT tokens prior to the token release.
However, as more players claim and sell their tokens on the market, the token price has rapidly declined. CoinGecko and CoinMarketCap, two platforms that track token prices, have recorded different high points for the token. CoinGecko shows a highest price of $0.0215, while CoinMarketCap shows a lower high of $0.0144.
This discrepancy has also led to different market capitalizations at the token’s highest price. CoinGecko shows a market capitalization of $2.21 billion, while CoinMarketCap records over $1.48 billion.
According to analysis by Decrypt, Notcoin has outperformed its competitors in terms of market capitalization, making it the highest valued token release in 2024. CoinGecko data shows that Pixels (PIXEL) ranks second with a market capitalization of up to $731 million, followed by Saga (SAGA) with $684 million.
Notcoin’s success lies in its simplicity and integration into the extensive TON ecosystem. Mining coins by clicking on the screen and completing tasks for additional rewards requires no barriers to entry, allowing users to start earning immediately.
Furthermore, Notcoin’s integration with Telegram, which boasts over 900 million monthly active users, has been instrumental in its success. Sasha Plotvinov, the founder of Notcoin and a member of the TON Foundation, stated in an interview that the initial goal was to introduce the vast user base of Telegram to the world of cryptocurrencies.
Plotvinov believes that the social elements of competition, leaderboards, and team building within Notcoin make it highly engaging. Playing the game on Telegram makes it easy for players to invite friends or form teams. Plotvinov explains that this is the reason why Notcoin has become a frenzy within the community, with even 53,000 communities competing to dominate the Notcoin leaderboard.
Plotvinov also revealed that the Notcoin team had no marketing budget, and everything happened organically. Furthermore, up to 94% of Notcoin players came from player referrals.
Sources:
Decrypt, CoinTelegraph
