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Notcoin Billionaire Pavel Durov of Telegram Is Planning to Hold $7 Million Until It Reachs 100x
Telegram creator Pavel Durov got a significant payment from over half a million Notcoin gamers.
Players gave Durov some of their in-game coins to thank him for hosting the crypto game on the chat app
The haul has grown to millions of dollars, and Durov hopes to keep onto the tokens until they rise 100x
Over 552,000 Notcoin Users to Durov
Durov received almost 1.03 billion NOT tokens in February from 552,000 Notcoin gamers.
This represents little over 1% of The Open Network's Notcoin supply.
When Durov announced, these tokens were worth $6.8 million, but now they're worth $7.3 million.
Durov, who Forbes estimates is worth $15.5 billion, does not need the money and will not sell the coins.
He plans to sell NOT tokens if their value rises to $680 million to buy more Telegram servers to strengthen the chat app's infrastructure.
Notcoin, this year's biggest gaming token, debuted with roughly $1.5 billion in market worth.
As is typical for new cryptocurrencies, NOT's value has fluctuated by 50% to just about $0.007, according to CoinMarketCap.
Despite its decrease, NOT is the 101st most valuable cryptocurrency by market value at $746 million.
Its first 24 hours saw over $1 billion in trade activity.
Notcoin will resume its crypto-earning game after pausing it in April to prepare for the token distribution.
Notcoin aims to become the “Netflix of social, viral games,” according to co-creator Sasha Plotvinov in an April interview with Decrypt's GG.
TON Space, a self-custodial wallet, will be available to Telegram users worldwide in November without wallet registration.
This functionality expands the Telegram wallet's custodial version, which has three million users.
Due to heightened regulatory scrutiny and the geofencing of many crypto applications, the self-custodial wallet is not available in the US.
Telegram TON Blockchain now lets users transfer Tether, which coincides with the wallet introduction.
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