Notcoin: Tap-to-Earn Telegram Phenomenon

Notcoin: Tap-to-Earn Telegram Phenomenon

| Updated
by Marco T. Lanz · 7 min read
Notcoin: Tap-to-Earn Telegram Phenomenon
Photo: Notcoin / X

In this guide, we will explore Notcoin as a new phenomenon in the play-to-earn sphere. We will discuss what Notcoin is, have a look at its eventful history, see how its gaming and reward system works, and speak on the debate surrounding its legitimacy.

Notcoin (NOT) is taking the crypto world by storm. This play-to-earn game launched as a Telegram Mini App in January 2024 has quickly captivated millions of users with its simple, addictive mechanics and promising roadmap.

Immediately after the launch, Notcoin became the most-played crypto game in 2024, following the lead of previous social phenomena like Axie Infinity and the OG CryptoKitties.

In this guide, we’ll cover all there is to know about Notcoin, see how it works, and what makes it stand out in the crowded world of crypto games.

What Is Notcoin?

Notcoin is a unique cryptocurrency project that operates within The Open Network (TON) ecosystem, previously known as Telegram Open Network. Its purpose is to engage users and promote the adoption of the TON blockchain through a simple, yet addictive, play-to-earn game that was nothing but a cookie-clicker clone with a crypto twist.

Originally launched in November 2023 as a closed beta, Notcoin was initially marketed as a meme coin, or a digital asset inspired by internet memes with no clear purpose beyond going viral. Little did the development team, Open Builders, know that their experiment in user engagement would evolve into a juggernaut of millions of active daily users.

The game was so successful that even Telegram founder, Pavel Durov, praised it as an ‘amazing success story’, assuring he would be holding his coins at least until they were 10X their initial price.

Roadmap of Notcoin: From Memecoin to Global Sensation

Notcoin capitalized on the meme coin hype shared among crypto enthusiasts during the time of its development, marked by the skyrocketing prices of other meme coins like Pepe (PEPE price data) or Dogwifhat (WIF price data).

The official launch on January 1, 2024, marked a significant milestone for the project, with over 5 million players joining in the first week alone, a number that would grow to 25 million people, with 2.6 million daily users only one month later and 30 million active users in just two months.

Support from the TON Foundation further legitimized Notcoin, helping it grow into a major player in the GameFi sector. The game employs The Open Network (TON) blockchain, formerly known as the Telegram Open Network, famous for its high transaction throughput and security features.

On May 16, 2024, the NOT token was airdropped to all users, marking a significant step towards the project’s goal of fair token distribution. The NOT token has since been listed on several top crypto exchanges, including Binance, further increasing its accessibility and potential for growth.

How Notcoin Works

Notcoin’s functioning is based on a simple, yet effective, play-to-earn mechanism. Users can mine Notcoin’s in-game currency NOT by tapping a Notcoin icon on their phones, which was later converted into the NOT token. Technically, these in-game tokens would later be swapped for real on-chain tokens.

Notcoin operates on the TON blockchain, known for its high transaction throughput and security features, which ensures a smooth and secure gaming experience. But beyond its play-to-earn features, Notcoin was able to gamify its users’ engagement with the whole TON ecosystem.

The users were rewarded NOT tokens for different interactions like joining communities, learning about new projects, using TON wallets, joining Telegram Premium or doing different activities. As a result, even after the end of its mining phase (the clicking game) it remained relevant.

Tokenomics

While Notcoins initially existed as in-game assets without real-world monetary value, the team behind Notcoin always had plans to launch the NOT token on the TON blockchain. This was one of the things that attracted speculators into the ecosystem, contributing to the popularity of the game.

On May 16, 2024, Notcoin airdropped more than 80 billion NOT tokens to participants as it opened for trading on various crypto exchanges. Notably, ​​more than half a million players of the viral Telegram click-to-earn game donated a share of their in-game coins to Telegram founder Pavel Durov to thank the Telegram founder for the messaging app that backs the crypto game. In total, he received as many as 1,030,383,291.36 NOT tokens (or over 1% of the total Notcoin supply on The Open Network) that he promised to hold ‘until they turn to $680M’. At this point, Pavel Durov would use them to ‘buy more servers for Telegram’.

The total supply of NOT is 102,719,221,714 tokens, with 78% allocated to ‘miners’ and NFT voucher holders and the remaining 22% reserved for new users, traders and future development.

Notcoin also has ‘earnings missions’ that let users earn income passively. These missions include following partner projects on X (formerly Twitter), joining their communities, downloading their apps or doing similar tasks that increase engagement. Instead of the usual one-time reward, these tasks let users earn NOT tokens passively upon completion.

Benefits & Concerns

Just like with any other crypto, Notcoin has some pros and cons. It is always wise to research before investing in a project, and this is especially true with Notcoin, a token whose whitepaper is literally a white paper.

Some of the benefits that Notcoin offers are:

  • Ease of use. Its tap-to-earn mechanic was easy for anyone to grasp, and its latest engagement mechanics are very user-friendly and straightforward as well.
  • Social engagement. The referral and squad systems of the game encourage collaboration and competition, enhancing user engagement. Notcoin also promotes other projects in the TON ecosystem, further strengthening the network, giving it more use cases and relevancy and encouraging people to know more about TON.
  • Legitimacy. Backing from the TON Foundation and endorsement by Pavel Durov add credibility to the project.
  • Integration with Telegram. The Notcoin token is supported by the official TON wallet which runs inside the Telegram app and doesn’t require any additional software to download. This makes it easier for a mainstream audience to get involved with the project.

Some of the concerns around Notcoin are:

  • Regulatory scrutiny. Like all cryptocurrencies, Notcoin must navigate regulatory challenges, particularly regarding AML and KYC regulations This is even more delicate considering that part of the project revolves around spreading awareness on other tokens and projects which could end up badly or scrutinized by authorities. Even if Notcoin is not directly involved in the projects, promoting them could have negative consequences.
  • Potential for misuse. The anonymity and privacy features could attract illicit activities.
  • Volatility. The token’s value could be highly volatile, posing risks for investors and many meme coins tend to go through huge price swings with many investors losing a big part or even all the money they put into the project.

Buying Notcoin

There are a few options to buy Notcoin, but the safest one is to deal with it through trusted exchanges where NOT is listed. There are also non-KYC decentralized exchanges like DeDust or Ston.fi that may work but are more complicated to deal with.

It’s crucial to select a reputable exchange and a secure wallet for storage. The best options are always the ones with the most trading volume as they are trusted by the largest number of users worldwide — Binance, OKX and KuCoin are some of the most popular ones. To do so, users may find the available Notcoin markets on popular cryptocurrency price trackers like Coinmarketcap or Coingecko.

Once they pick their favorite exchange, users should create an account and either buy the coin directly from the exchange or by depositing funds and trading them for Notcoin.

Those willing to store their tokens for long periods should consider doing so in cold storage, away from an exchange, for safety reasons. The best wallets that support Notcoin (and any token in the TON blockchain) include:

  • the official TON wallet inside the Telegram app,
  • the Tonkeeper wallet,
  • or even a hardware wallet like Ledger in case users require an extra sense of security.

Bottom Line

Notcoin and its rapid rise from a meme coin to a global sensation underscore the power of user engagement and the potential of blockchain-based gaming. With strong backing from the TON Foundation and a clear roadmap, Notcoin may become a significant player in the GameFi industry and a big part of the TON ecosystem.

However, as with any emerging technology, it is essential to stay informed and cautious about the potential risks involved.

Share:

FAQ

What is Notcoin?

Notcoin is a play-to-earn game that exists as an application within Telegram. It allows users to “mine” a cryptocurrency called “Notcoin” by repeatedly clicking on an animated coin. It’s essential to note that Notcoin is not a real cryptocurrency and only exists within the game.

What are the features of Notcoin game?

The main features of the Notcoin game are linked to the click-mining mechanics, progression based on upgrades, and the promotion of virality. Additionally, there are various ways to earn bonuses through referrals, creating or joining group squads on Telegram, and inviting other players.

How to mine Notcoin?

You mine Notcoin by repeatedly clicking on the animated coin that appears on the game screen. Each click grants a certain amount of Notcoins. There is an energy limit that depletes and then recharges over time.

When did Notcoin appear?

Notcoin was initially launched as a closed beta in November 2023 within Telegram. Subsequently, it had its official launch on January 1, 2024.

Is Notcoin listed?

Yes, Notcoin is listed on several top cryptocurrency exchanges including Binance, Okx, Kucoin, Bybit and Bitfinex. 

How to buy Notcoin?

You can buy Notcoin on exchanges where it is listed — both centralized or decentralized. Choose a reputable exchange and secure wallet for storage. Refer to trusted crypto news sources for detailed buying guides. Another option is through P2P deals, but those are not advised.

What is Telegram?

Telegram is a super-secure, fast, and free instant messaging and voice-calling application. It has hundreds of millions of users worldwide.

What is TON?

TON (The Open Network) is a decentralized blockchain network initially developed by the Telegram team. The team withdrew, but TON continued to be developed by the open-source community.

What is Play-to-Earn?

Play-to-earn games are those that allow users to earn real-world rewards and assets with value while playing. This type of game leverages blockchain technology and NFTs to provide scarcity and value to in-game assets.

Is Notcoin a scam or not?

There is no concrete evidence that it is a scam. While it has some questionable signals, it also has the support and legitimacy of serious organizations like TON Labs and the TON Foundation.

guides
Best Crypto to Buy Now: November 2024 October 3rd, 2024

After a remarkable ‘Uptober,’ the market recovery is expected to continue. Here are the top crypto picks in November 2024 with pro...

Rexas finance