Notcoin: an overview of one of the most sensational projects of 2024
What is Notcoin?
Notcoin is a game project launched by the OpenBuilders team in November 2023.
The Notcoin game went viral quickly and garnered over 32 million users six months after launch. In comparison, the leading altcoin, Ethereum, has attracted only 15 million users, although it has existed since 2015.
Initially, Notcoin was a simple clicker game or, as they are called in the crypto community, a "tapalooza" in the form of a mini-application built into the Telegram messenger, where users accumulated virtual coins, which were then converted into real NOT tokens.
However, the farming process was completed shortly before the token was listed on exchanges. Before the launch of the new game phase, users could either stack the mined NOT tokens in the Notcoin app or withdraw them to a wallet or exchange.
NOT token
Notcoin was listed on exchanges in mid-May 2024. As of June of that year, Notcoin had surpassed many major altcoins in trading volumes, such as Shiba Inu, Cardano, Litecoin, and even Toncoin, the primary cryptocurrency of the TON blockchain.
All players who participated in the initial phase of Notcoin farming could exchange their clicked coins for vouchers in the form of NFTs or simply receive NOT tokens at a rate of 1:1000. For example, if a player farmed 100 million virtual coins, he could receive 100,000 NOT tokens, which are valued at $1755 as of June 2024. On average, each user could earn $200-300 in NOTcoin with daily activity, even if they sold tokens immediately after listing at a rate of $0.01. However, in June 2024, the token price hit an all-time high of $0.028, so those who managed to wait and did not sell tokens immediately could almost triple the income from their gaming activity.
The new phase of the game was launched on June 16, 2024. Judging by posts on Notcoin's official Twitter, a new mini-game should appear in the app after the designated date, on which you will need to collect falling coins. Possibly, you can earn additional NOT tokens this way.
As of the end of June, only withdrawal of NOT tokens to exchanges or non-custodial wallets such as TON Space, Tonkeeper, and others is still available. Depending on the number of tokens in the staking, users can increase their level in the game, which will further grant them access to exclusive partner apps and allocations of new startups. The higher the level, the more bonus users can get in the future.
The total number of NOT tokens, according to CoinMarketCap, is around 102 billion. According to the developers, all tokens are concentrated in the hands of holders, and the team itself does not have a large amount on hand. The Notcoin team sent 1 billion tokens worth $6.8 million (at the exchange rate when the transaction was sent) to Telegram founder Pavel Durov. Durov said in his Telegram channel that he would not sell NOT tokens until they "give 100 X's", i.e., grow to $680 million.
Notcoin's future
Notcoin owes much of its success to social networks: the team created a viral effect and launched a new trend. In addition, Notcoin is one of the first memcoins on the TON blockchain, and this segment of cryptocurrencies is in a trend.
Some representatives of the crypto community even suggested that Durov himself is behind the creation of the project, but there is no confirmation of this information. Nevertheless, the Telegram founder has repeatedly mentioned the Notcoin project on his channel.
The Notcoin token was added to Wallet, Telegram's built-in wallet, which only helps its spread.
Notcoin is the leading token in the TON ecosystem by capitalization and is among the top 6 largest memcoins by capitalization.
According to the official Notcoin website, as of June 2024, the project's community already numbers more than 35 million people, although some sources say there are already more than 40 million users.
According to analysts, given that memcoins have become one of the central narratives of 2024, Notcoin has every chance to become one of the leaders of this segment. However, when investing, all risks should be taken into account, as memcoins have extreme volatility and can fall in value by tens of percent in a short period.
