Notcoin (NOT): How to Mine Coins in Telegram’s New Phenomenon Game and What to Do with Them?

Within a few months, a captivating play-to-earn game called Notcoin has enthralled millions of Telegram users with its unique and somewhat amusing proposition, setting it apart from other crypto games.

In this guide, we’ll explore what Notcoin is, have a look at its eventful history, how its gaming and reward system works, and the debate surrounding its legitimacy. Additionally, we’ll analyze the context around this phenomenon that evolved from an inconspicuous experiment to quickly becoming a global sensation with significant potential to make a mark in the GameFi or crypto gaming industry.

What Is Notcoin?

Notcoin is a play-to-earn game playable as a mini-app within the popular messaging service Telegram. The main allure of Notcoin is its ability to let users “mine” or earn a cryptocurrency called Notcoin through a straightforward mechanism: they need to repeatedly click on an animated coin within the chat.

While Notcoin aims to mimic the experience of mining real cryptocurrencies, it currently only exists as an in-game asset without real-world monetary value. This is because its native currency has not yet been publicly launched on the blockchain.

Notcoin was developed by a relatively unknown team called Open Builders, but it has the backing of the TON Foundation, an organization supporting the development of The Open Network (TON) blockchain, initially incubated by the team behind Telegram before their withdrawal in 2020 due to regulatory issues.

Although the game itself is simple, its unique social component through Telegram has been key to its popularity. Anyone can start playing Notcoin for free within seconds, without the need to navigate common hurdles like setting up wallets or registering on exchanges to buy cryptocurrencies and pay fees within the game.

Moreover, Notcoin has gone viral due to its referral mechanics, allowing players to earn Notcoin bonuses to progress in the game.

Notcoin History: From Memecoin to Global Sensation

Notcoin was initially launched in November 2023 as a closed beta within Telegram. The development team, Open Builders, had little prior experience with large-scale projects. At the time of launch, there was minimal information available about the game and, notably, about the future token whose release date remains unknown.

The team marketed Notcoin as a “memecoin”, a digital asset inspired by an internet meme with no clear purpose beyond going viral. In other words, they presented the game as a typical internet meme that seemingly served no real purpose, not expecting the success it has garnered so far.

The game’s simplicity made it go viral, offering hours of entertainment for those who want to have fun while “mining” cryptocurrencies. In just a few weeks, the beta version attracted over 650,000 players, generating billions of in-game tokens, which currently have no real value.

However, its rapid organic growth drew the attention of the TON Foundation, leading them to support the project and adding legitimacy to the crypto community.

Finally, on January 1, 2024, Notcoin had its anticipated official launch outside the beta. In the first week, it attracted over 5 million players, becoming the fastest-growing play-to-earn game in history.

Understanding Notcoin

Notcoin is straightforward to understand and play, even for users with no experience in cryptocurrencies or blockchain technology. Here’s an explanation of its mechanics:

1. Click mining. The core of the game involves repeatedly clicking on the animated coin icon on the screen. Each click “mines” the Notcoin cryptocurrency. Initially, players receive one Notcoin per click, but there are upgrades available to increase this amount.
2. Energy and boosters. To prevent system abuse, click mining uses an energy system, limiting the number of clicks per session before running out of energy. However, like other games with similar mechanics, energy replenishes automatically over time. As for boosters, players can purchase them using mined Notcoin, helping to expand the available energy limit. They also facilitate faster energy recharge and offer the option to earn Notcoin automatically even when not connected.
3. Bonuses and squads. The game also features various activities to earn extra Notcoin bonuses, such as inviting friends (the referral option) or joining “squads.” Squads are public Telegram groups or channels that compete on the game leaderboards. This encourages collaboration within the game, as squad members help each other climb the ranks.
4. Future tokenization. The plan is to turn Notcoin into a real token or cryptocurrency on the TON blockchain in the future. This would enable players to transfer or sell the accumulated Notcoin, giving them real monetary value. Therefore, as evident, the game’s mechanics are extremely simple and addictive, especially for those who enjoy spending time on the Telegram platform.

Is Notcoin a Scam?

The rapid rise of Notcoin has led to reasonable doubts about the project’s legitimacy in some crypto circles. However, like any project in its early stages, there are both arguments for and against.

Among the reasons to be skeptical are as follows:

• The team behind Notcoin has a limited track record, and very little is known about their long-term plans. In other words, there’s no guarantee they will fulfill their promises.
• As of January 2024, there is no real token available. As a result, the in-game coins lack real value, raising concerns about whether the promised cryptocurrency will ever be launched.
• Player numbers and popularity could be artificially inflated through bots or fake accounts.
• Its referral and bonus system can be compared to pyramid schemes or Ponzi scams. However, this is a common practice in many games and cryptocurrency platforms.

There are also advantages of Notcoin:

• Public backing from TON Labs and the TON Foundation lends significant legitimacy to the project, as these are serious and recognized organizations in the ecosystem.
• The game’s code is open for developers to audit its operations, significantly reducing the chances of it being a scam.
• The strong interest from cryptocurrency exchanges in listing the future token suggests long-term potential.
• Its organic virality without paid advertising demonstrates that they have created an appealing concept, despite the skepticism surrounding the project.

Therefore, while the possibility of fraud cannot be completely ruled out, Notcoin as a project seems to have legitimate intentions to become a serious player in the emerging crypto-gaming industry. Close observation of the developers’ next steps will be necessary to dispel uncertainties.

Bottom Line

As seen, while it’s challenging to determine with absolute certainty the true intentions and capabilities of the Notcoin team, the project has quickly demonstrated its enormous appeal, gaining support from two giants in the ecosystem – TON Labs and the TON Foundation.

For now, it remains to be seen whether the team can capitalize on this viral success and materialize the launch of Notcoin as a digital token on the TON blockchain, finally proving that its viral success can transform into a sustainable cryptocurrency project.