Project background and market positioning
Notcoin is a play-to-earn (P2E) game based on Telegram, developed by Open Builders and supported by the TON Foundation, running on The Open Network (TON) blockchain. Since its launch at the end of 2023, Notcoin has attracted over 35 million players through a simple tap-to-earn mechanism, becoming a phenomenal project in the Web3 gaming space. Its core gameplay involves 'mining' Notcoin (NOT) tokens by interacting with animated tokens in the Telegram chat interface, combining social features and low entry barriers, making it a beginner's tool in the blockchain and cryptocurrency fields. Notcoin's vision is to become the 'Netflix' of Web3 games, creating a diverse social gaming ecosystem by integrating third-party developers.
Token economy and market performance
The Notcoin token (NOT) was launched on the TON blockchain on May 16, 2024, with a total supply of 102.7 billion tokens, all of which entered circulation at TGE, with 78% (approximately 80.2 billion tokens) allocated to early players and NFT credential holders, ensuring a community-led distribution model. On its first day of listing, the NOT token reached a market value of $1.5 billion, peaking at over $2.7 billion, with trading volume exceeding $1 billion at one point, demonstrating strong market demand. The current market value is approximately $1.9 billion, ranking it 53rd among global cryptocurrencies. Notcoin maintains value stability through regular token burns and staking mechanisms, while planning to expand token use cases through an 'explore-to-earn' model, such as participating in Web3 project tasks for rewards.
Technical and ecological advantages
Notcoin leverages the high throughput and low transaction fees of the TON blockchain to achieve a seamless gaming experience and token trading. Its Telegram mini-program design requires no additional downloads, lowering the entry barrier for users and attracting widespread participation from Telegram's over 900 million users. In 2024, Notcoin upgraded from a simple click game to a comprehensive platform that includes leaderboards, task systems, and NFT credentials. Its newly launched VOID game introduces competitive modes, leagues, and limited rewards, further enhancing user engagement. Notcoin also plans to attract third-party developers to build more TON-based games through a $5 billion game accelerator in cooperation with Helika Gaming, creating a diversified Web3 gaming ecosystem.
Community and growth momentum
Notcoin's success is inseparable from its strong community-driven model. The game achieves viral spread through Telegram's social features (such as inviting friends, joining teams, and leaderboard competitions), accumulating 35 million players and 4 million daily active users even before its listing. Inal Kardan, the gaming head of the TON Foundation, pointed out that Notcoin introduces 3% of Telegram users to Web3 through gamification, showcasing its great potential in promoting blockchain adoption. In 2024, Notcoin's Telegram channel has gained 15 million subscribers, and community activities (such as airdrops and task competitions) have further enhanced user engagement, laying the foundation for long-term growth.
Risks and challenges
Although Notcoin has performed well, it still faces challenges. Firstly, the long-term sustainability of the click-to-earn model is in doubt; its co-founder Sasha Plotvinov stated that the model 'may be dead' and that it needs to shift to more engaging game mechanics to maintain user interest. Secondly, the competition in the Web3 gaming market is fierce, and Notcoin needs to compete for users and developer resources with projects like Hamster Kombat and Catizen. In addition, regulatory uncertainties and market volatility may affect the price of the NOT token. Investors need to pay attention to Notcoin's execution in ecological expansion (such as new game modes and DApp integration) and the progress of its mainnet launch.
Investment recommendations and outlook
With its first-mover advantage in the Telegram and TON ecosystems, strong community support, and innovative gamification strategies, Notcoin has become a leader in Web3 gaming in 2024. In the short term, investors can focus on its airdrop activities and secondary market trading opportunities, recommending to accumulate during price corrections. In the long term, if Notcoin successfully transforms into a comprehensive gaming platform and attracts more developers, its market value is expected to exceed $3 billion. It is recommended for medium to high-risk tolerant investors to participate while closely tracking user feedback and ecological expansion progress of its new games (such as VOID). Notcoin's future depends on its continuous breakthroughs in gaming innovation and community operation, making it worthy of long-term attention.
