Telegram CEO Pavel Durov Endorses Notcoin After Successful Launch on TON Blockchain
QUICK TAKE
- Telegram CEO Pavel Durov endorsed the viral web3 game Notcoin following its token launch on the TON blockchain.
- Notcoin reached nearly $700 million in market capitalization, as noted by Durov.
- The game has amassed 35 million active users and distributed over 80 billion NOT tokens.
In a significant development for the cryptocurrency world, Telegram CEO Pavel Durov has publicly endorsed the web3 clicker game Notcoin, which recently launched its NOT token on The Open Network (TON) blockchain. This endorsement came via Durov’s Telegram channel, where he praised the game’s rapid success and its integration within the Telegram ecosystem.
A Remarkable Success Story
Durov highlighted Notcoin as an “amazing success story,” noting its impressive growth and market impact. “Notcoin, a Mini App on Telegram, reached 35 million active users in just a few months,” Durov announced to his 2.5 million Telegram subscribers. This milestone underscores the potential of the Telegram and TON ecosystems in fostering innovative applications and engaging millions of users.
The Token Launch and Distribution
Notcoin’s journey took a pivotal turn on Thursday with the minting of its cryptocurrency on the TON blockchain. The launch saw more than 80 billion NOT tokens airdropped to participants, marking the beginning of its trading on various cryptocurrency exchanges. This event allowed users who had been accumulating in-game currency by tapping the Notcoin icon on their phones to convert their holdings into real tokens at a 1000:1 ratio.
Prior to this, Notcoin had introduced a pre-market trading system in March through NFT vouchers, which enabled users to mint nearly 800,000 NFT vouchers. These vouchers are now also convertible into NOT tokens at the same 1000:1 ratio, further integrating the game’s ecosystem with the blockchain.
Significant Market Impact
The distribution of 80,219,221,714 NOT tokens has propelled Notcoin to a market capitalization of $545 million, with a fully diluted valuation reaching approximately $711 million, according to CoinGecko data. The current trading price of Notcoin stands at $0.0068 per token. This remarkable valuation reflects the strong interest and confidence in the project.
User Engagement and Future Prospects
Notcoin’s innovative approach has transformed a simple web3 clicker game into a robust economic model, where in-game currency can be converted into real-world value. “All of a sudden, Notcoin users who just played this game for fun could convert their in-game currency into real money,” Durov remarked, emphasizing the game’s ability to blend entertainment with financial rewards.
The total supply of NOT tokens is capped at 102.7 billion, with a significant 78% allocated to miners and NFT voucher holders. The remaining 22% is reserved for new users, traders, and future development, ensuring a balanced distribution that supports both current and prospective stakeholders.
A Strong Ecosystem
The success of Notcoin illustrates the synergy between Telegram and TON blockchain, showcasing how a well-integrated ecosystem can drive user engagement and adoption. The TON blockchain provides the necessary infrastructure for secure and efficient token transactions, while Telegram offers a vast user base and a platform for seamless interaction.
Conclusion
The endorsement by Pavel Durov and the subsequent success of Notcoin highlight the growing influence of blockchain technology within the gaming industry. With a strong market presence and an engaged user base, Notcoin is well-positioned to continue its growth and innovation. As the platform evolves, it will be interesting to see how it leverages its substantial market capitalization and user engagement to further enhance its offerings and expand its impact within the crypto space.