Notcoin (NOT) Explained

What is Notcoin (NOT)?

Notcoin (NOT) is a GameFi project built on the TON Layer 1 blockchain that combines the thrill of gaming with the benefits of cryptocurrency. Accessed via Telegram, the clicker game allows players to earn virtual Notcoins by tapping on a coin. The in-game currency can be converted into NOT, a tradable and transferable token on the TON network. NOT can also be purchased and traded on major crypto exchanges.

As a modern leader in the crypto gaming category, Notcoin has built a massive user base, with thousands of daily players engaged in its play-to-earn system. Its tokenomics, hefty community airdrops, and integration with the TON blockchain make Notcoin a special project for attracting more everyday people into Web3. Importantly, the entire marketing approach of the project is that they don't take themselves seriously, but they always prioritize users.

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How Does Notcoin Work?

Notcoin can be accessed directly on Telegram for free and played like any other clicker mobile game. What gives value to the project is that it operates inside the TON blockchain ecosystem, and the in-game Notcoin "points" can be converted to NOT with monetary value.

Steps to play and earn Notcoin:

1. The Notcoin game is accessed directly through Telegram.
2. Participants tap a virtual coin on their mobile screens to gather Notcoins, the in-game virtual currency.
3. Features like boosts and turbo mode can amplify the number of Notcoins collected per tap.
4. Players can gather extra points by completing missions and inviting friends.
5. Notcoins (game points) can be claimed as NOT tokens (real cryptocurrency)
6. The conversion rate is 1000 in-game Notcoin for 1 NOT (58% of users approved it).

The game uses a tried-and-true formula that combines social elements such as leaderboards, competitions and teams with simple, yet effective graphics. As a result, it's not a surprise the screen time users pile up.

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What is NOT Crypto Token?

NOT is the token, referred to as a jetton within the TON ecosystem, that turns the Notcoin app into a GameFi powerhouse. It resides on the TON blockchain, allowing users to obtain rewards through gameplay. After players accumulate Notcoins by tapping virtual coins, they can convert these into NOT tokens with real-world value. This inventive blend of gaming and blockchain technology stimulates users to take part in decentralized finance.

Currently, NOT is priced at $0.01 and has a market capitalization of $1.1 billion, ranking it as the 54th biggest cryptocurrency. In terms of volume, it is ranked 35th and is available for trading on popular CEXs like Bybit, OKX, Binance, Kucoin, and MEXC.

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Tokenomics

Notcoin's tokenomics model rewards the most key segment - the actual players of the game and the community.

While the whitepaper is interesting, to say the least (8 blank pages), the Notcoin community channel on Telegram has provided plenty of information about NOT's token formation:

• Total Supply: Notcoin has 102.7 billion NOT tokens in circulation.
• Community Allocation (78%): Approximately 80.2 billion tokens are designated for the 34 million+ individuals who have mined Notcoin and for voucher holders.
• Future and Development Allocation (22%): This portion is set aside for new users, future phases, listing campaigns, and ongoing development.
• Deflationary Model: Notcoin adheres to a deflationary model akin to Bitcoin, with no new emissions and a decentralized distribution designed to prevent supply manipulation.
• Recent Burn: Recently, Notcoin worth $3.7 million was burned to mitigate emissions and emphasize the community-focused strategy.
• Current Holdings: Notcoin is held by 6.3 million wallets, including exchanges, traders, miners, and stakers.

Also, for those who might not recall, earlier this year Notcoin donated $6.8 million in NOT to Pavel Durov, the founder of Telegram and The Open Network (TON). Pavel said he shall hold all 1 billion NOT until they reach a $680 million value.

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Community and Airdrop Achievements

Notcoin's community-driven approach contributes massively to its current popularity. That includes a gigantic airdrop that distributed $2.5 billion in NOT tokens to 11.5 million users without locking periods or vesting. This airdrop surpassed others, such as ZKsync and LayerZero.

Notcoin's deflationary mechanism, combined with fair and broad distribution, ensures that power and influence are evenly spread across its ecosystem. In fact, they've repeatedly mentioned that they have "no VC backing" or "private investors".

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Notcoin Explore

With the launch of Notcoin Explore, users now have access to special offers, new project launches, and more lucrative reward systems ($20,000 minimum if successful). The platform's user-first distribution model rewards players for their time, promoting a win-win scenario. By participating in Explore and engaging with new projects users earn additional rewards and become integral to the ecosystem's growth.

The most recent launch on Notcoin Explore is Lost Dogs, a story-driven Telegram game with tap-to-earn mechanics. Players can earn in-game currencies (WOOF), NOT and NFTs.

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Founders

Open Builders, a group well-known for creating captivating and popular social games, founded Notcoin in 2023. They have tapped into Telegram's extensive user base (950 million) and quickly gained momentum with their work on Notcoin. By merging gaming with blockchain, the creators aim to make Web3 gaming approachable and appealing to a broad (non-crypto) audience. Their vision cultivates a lively community within the TON ecosystem that encourages creativity.

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Bottom Line

Notcoin is one of the top rulers in the GameFi crypto field. The game attracts thousands of new Telegram players every day, while NOT is one of the most trending assets on traders' watchlists. With positive feedback from over 40 million users, the project has received more attention than other, more financially supported 2024 launches.

Sure, competition is popping up every week with new projects on TON even imitating the black and white branding of NOT. Despite this, Notcoin views them as friendly communities rather than rivals and supports them. The retail interest in crypto that Notcoin has generated shows the potential of gamifying as an evergreen driver of mass adoption for Web3.