Today we are going to talk about a project that is being mined on two major CEXs at the same time. It is the super MEME project of the ton ecosystem - Notcoin. This project is also very popular on telegram. It is also a very simple game. The interesting thing is that there is nothing on the official website. The white paper on the official website only has a whitepaper and no other content. It is very meme-like. This thing can actually be mined on two major CEXs at the same time, which shows its popularity. The total amount of mining on binance is 3 billion, and on OK is 1.28 billion. It all started on May 13th, for 3 days.
Introduction
Notcoin is rooted in the TON ecosystem and hosted directly in the popular Telegram messenger. Notcoin was launched in November 2023 by Open Builders, a team with limited experience in large-scale projects.
Notcoin is a free and easy-to-use Telegram game. The gameplay mainly requires people to earn gold coins by clicking on the mobile phone screen. Since its launch on January 1, 2024, its popularity has surged. Currently, the number of participants in the game exceeds 30 million, and the average daily activity reaches 5 million, making it the fifth largest channel on Telegram.
The game effectively promotes various projects in the TON ecosystem, such as STON.fi and Fragment, through in-game tasks, a strategy that highlights that Notcoin is more than just a game; it is a gateway to participation in the broader ecosystem.
How to Play Notcoin (NOT)
After players join the Notcoin bot (@notcoin bot) on Telegram on their mobile phones through the invitation link, they can open the APP in the group and start mining by continuously clicking the Notcoin icon in the middle of the screen (after the upper limit of 1,000 coins counts down to zero, it will be restored to the original upper limit in a few minutes/hours), which is a bit similar to the common stamina bar.
To increase their earning potential, players can activate "boosts," or power-ups. Daily refreshable boosts include "Full Energy" and "Turbo," as well as purchasable permanent boosts that increase coin acquisition rate and energy consumed per click. For players who prefer a more hands-off approach, auto-clicking bots will continue to collect coins even when the player is away.
Additionally, earned Notcoins can be used for cosmetic enhancements, such as changing the game background or the appearance of clicked coins.
As players accumulate Notcoins, they will rise to the top of the global leaderboard, which is divided into different levels, from Silver League to Diamond League. The league method increases its competitiveness.
In early March, Notcoin launched a feature that allows elite players to convert large amounts of in-game currency into NFT vouchers that can be traded before their tokens are officially issued. Players can choose to exchange 10 million or 100 million game coins for coupon NFTs. Currently, the NFT has been listed on the TON ecosystem NFT trading platform Getgems for advance trading and pricing. When the token is officially issued on the chain, the NFT can be exchanged for tokens. According to Notcoin's game representatives, the token generation event and subsequent airdrops to players will be carried out in late March or early April.
Currently, there are about 800,000 Notcoin NFTs in circulation, with a current value of 10,000 NOT=16TON (1TON is calculated at 6 US dollars), a market value of approximately 76 million US dollars, a total transaction volume of 3.7 million TON, and a transaction amount of approximately 300 million.
On April 1, 2023, Notcoin ended its mining phase, which means that players can no longer earn tokens through the established methods.
Data
The number of followers on Twitter is around 1.8 million, and the number of subscribers on Telegram is around 6.2 million.
Token Economy
The total supply of NOT is 102,719,221,714 pieces. 78% (80,219,221,714 pieces of NOT) will be allocated to miners and voucher holders, and 22% (22,500,000,000 pieces of NOT) will be allocated to future new users, trader listing activities, etc.
In addition, Notcoin stated that in order to make it easier to read token prices, Notcoin’s in-game tokens, Vouchers (NFTs), and total supply have all reduced by three zeros. For example, the in-game token price is converted from 0.0000123 to 0.0123, 10 million Vouchers are converted to 10,000 NOTs, and 80 trillion game coins are converted to 80 billion NOTs.
Then we estimate the price comparison, because the price of NFT is actually sold on getgems, 1 NFT corresponds to 10,000 tokens, worth 100 US dollars, then one NOT is about 0.01 US dollars. So the total FDV is going to be 1 billion US dollars.
Finally, with the popularity of notcoin, TON has also taken off recently, rising from 5 to 7 in one day, and its market value has directly entered the top 10. We actually talked about the public chain TON last year. The data at that time was actually very miserable. As a public chain, the TVL was only more than 10 million in April last year. Although you have hundreds of millions of fans on Telegram, this TVL is really miserable. But today I went to see TON's TVL again. It has reached 200 million, but it is still very low, lower than many L2s, but the market value is ridiculously high. The current market value of TON has reached 23 billion, which is seriously disproportionate to the TVL.
Then let's talk about notcoin, which is also a very meme project, but it actually gives us a very good idea, that is, designing games does not necessarily require 3A masterpieces. Very simple games like this can still be popular. As for mining, you can definitely participate, but it is definitely not recommended to buy it. 78% of the ratio is given to miners, so there will be a lot of selling pressure, which is beyond doubt, because the cost of obtaining it before is really a bit low, so it is definitely not recommended to buy it at the secondary level at the first time.
