Notcoin, the viral Telegram-based game that has attracted over 35 million players, made waves in the cryptocurrency market on Thursday with the launch of its native token, NOT, on The Open Network (TON) blockchain.
The highly anticipated debut saw the project airdrop more than 80 billion NOT tokens to its massive player base, resulting in a fully diluted valuation (FDV) of $1 billion and generating over $1 billion in trading volume within hours.
TLDR
- Notcoin, a Telegram-based game, launched its NOT token on The Open Network (TON) blockchain, airdropping over 80 billion tokens to some 35 million players.
- The token experienced significant volatility upon launch, with prices ranging from $0.0144 to $0.0215 before settling around $0.0076, resulting in a market cap of approximately $776 million.
- Despite the price drop, Notcoin’s launch generated over $1 billion in trading volume within hours, making it the 14th most-traded coin by 24-hour volume.
- The token’s fully diluted valuation (FDV) reached $1 billion after the distribution across various exchanges, with the project allocating tokens to Binance Launchpool and OKX Jumpstart users.
- Notcoin plans to continue rewarding users for exploring the crypto ecosystem using NOT tokens and aims to introduce a trading bot for users to trade other TON-based tokens.
The token’s launch was met with significant volatility, with prices ranging from $0.0144 to $0.0215 before settling around $0.0076, according to data from CoinGecko and CoinMarketCap.
This price action resulted in a market cap of approximately $776 million, making Notcoin one of the largest gaming token launches of 2024.
Despite the initial price drop, which is common among newly launched tokens due to limited liquidity and airdrop farmers selling their holdings, Notcoin’s debut generated substantial interest among traders.
The token quickly became the 14th most-traded coin by 24-hour volume, with over $1 billion in trading activity.
Notcoin’s success can be attributed to its unique approach to onboarding users into the Web3 ecosystem. Launched in January 2024 as a Telegram Mini App, the game allowed players to “mine” in-game currency by simply tapping a Notcoin icon on their phones.
These balances were then converted into NOT tokens at a 1000:1 ratio during the token generation event.
In addition to the airdrop, Notcoin allocated 3% of its total supply to Binance Launchpool users and 1.5% to OKX Jumpstart users, further driving interest in the project.
The team also introduced staking to incentivize airdrop farmers to hold their tokens, with long-term holders set to earn extra rewards and gain access to more lucrative staking pools based on their in-game level.
Notcoin plans to continue rewarding users for exploring the crypto ecosystem using NOT tokens and aims to introduce a trading bot that will enable users to trade other TON-based tokens.
The project also intends to collaborate with Open Builders, an initiative aimed at funding and supporting projects on the TON blockchain, to onboard new users via Notcoin’s platform.
Notcoin’s successful launch and innovative approach to user acquisition demonstrate the potential for blockchain-based games to drive mainstream adoption of cryptocurrencies.
With its large, engaged player base and plans for future development, Notcoin is well-positioned to become a major player in the growing Web3 gaming space.
