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not coin airdrop

Notcoin goes live on TON blockchain, airdrops over 80 billion tokens

Crypto Ecosystems• May 16, 2024, 8:00AM EDT
 UPDATED: May 20, 2024, 12:42AM EDT
The Block

Quick Take

  • Viral web3 clicker game Notcoin has launched its cryptocurrency on the TON blockchain.
  • Over 80 billion NOT tokens have been airdropped to participants amid crypto exchange listings.

  • Viral web3 clicker game Notcoin has issued its cryptocurrency on the The Open Network ( TON -1.91%

    ) blockchain — airdropping more than 80 billion NOT tokens to participants as it opens for trading on crypto exchanges.

    Notcoin launched as a Telegram Mini App in January, growing to attract a community of over 35 million players, according to a statement shared with The Block.

    Telegram Mini Apps are small applications integrated into the Telegram messaging platform that allow users to interact with various services without leaving the application.

    Players “mined” the in-game currency by simply tapping a Notcoin icon on their phone, with the amount accrued now converted into the NOT token, distributed to all users with a connected TON wallet at a 1000:1 ratio.

    Prior to today’s token generation event, pre-market trading of Notcoin was launched via an NFT trading system in March, with nearly 800,000 NFT vouchers minted by the end of the game’s “mining” phase on April 1.

    With a floor price of around $26 and a total trading volume of around $26 million during the period, the NFTs became the fourth-largest NFT collection on the TON blockchain, according to NFT marketplace Getgems, with more holders than any other TON-based collection. These NFT vouchers can now also be converted into NOT tokens at a 1000:1 ratio.

    Overall, 72,265,851,714 tokens have been distributed to miners, and 7,953,370,000 tokens are now redeemable by NFT voucher holders. Eligible users can claim the tokens via the Notcoin app and withdraw NOT on-chain.

    RELATED INDICES

    DETAILS
    GMAI
    Top AI tokens
    121.42
    0.37%
    DETAILS
    GMMID
    Mid Caps
    75.86
    -1.43%
    See Crypto Indices

    The total supply of NOT is 102,719,221,714 tokens. “Miner” and NFT voucher holder allocations account for 78% of this, with the remaining 22% (22.5 billion NOT) reserved for new users, traders and future development activities.

    Notcoin previously stated that 100% of NOT tokens would be allocated to “miners” in a “bitcoin-style” distribution where the average allocation is 0.0003%.

    Leveraging the Telegram messaging platform

    The Notcoin team claims it has the largest crypto-related channel on Telegram and the fourth-largest overall, with 6.3 million channel subscribers. Leveraging that audience helped the game attract its 35 million players — equivalent to around 0.4% of the world’s population.

    In turn, that enabled Notcoin to attract “hundreds” of web3 organizations to advertise themselves via the “earn” mechanics of the game, according to the team, with players rewarded with Notcoin for participating in tasks designed to drive engagement to those projects.

    Going forward, Notcoin’s team plans to continue rewarding users for exploring the crypto ecosystem using NOT tokens, with a trading bot also set to be introduced, enabling users to trade other TON-based tokens.

    Open Builders — an initiative aimed at funding and supporting projects on the TON blockchain — will also enable teams developing on TON to onboard new users via Notcoin’s platform, with selected projects added to Notcoin each month.


    Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.

    © 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

    TOKENS MENTIONED IN THIS ARTICLE
    TON-1.91%
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