Original｜Odaily Planet Daily

Author: Wenser

According to Coingecko data, the price of NOT token of Notcoin, a popular project in the TON ecosystem, reached a new high of around $0.0283 at 2 a.m. today, and has now fallen back to around $0.021. Its market value has stabilized at $2.1 billion, ranking 62nd in the cryptocurrency market, surpassing ONDO and approaching LDO. Not only that, NOT's 24-hour trading volume also far exceeds that of a number of mainstream currencies, reaching an astonishing $4.7 billion.

After NOT "fired the first shot of listing TON ecosystem tokens on Binance", NOT experienced a 60% plunge and then achieved a "7-fold achievement" in just a week. Odaily Planet Daily will briefly introduce NOT and the project behind it, Notcoin, in this article, and provide some new projects for reference based on the current status of TON ecosystem development.

Project Latest Progress: Phase 3 Has Begun

According to the official Notcoin account, the project has now reached the third phase (Phrase 3). As a click game based on the TON blockchain, Notcoin has gained more than 35 million participating users in just a few months with its low threshold and direct revenue rewards, and the average daily active users have exceeded 6 million. The Tap2Earn (click to earn) game mode and the fission of attracting people have also made Notcoin one of the top 5 channels in terms of the number of users on the Telegram platform.

The game was officially launched in January this year; in early March, high-level players were allowed to convert in-game currency into NFT vouchers to facilitate players to trade before the token was launched. At that time, the price of 10 million NOT was only about US$100; in early April, the service was briefly suspended to prepare for the launch of the token. It was originally planned to complete the token issuance on April 20, but it was eventually delayed; on May 9, OKX and Binance, two major exchanges, officially announced that they would launch NOT and start staking mining; on May 16, NOT was officially launched on a number of mainstream exchanges, and its market value exceeded US$800 million within an hour of its launch.

Now, NOT has achieved a remarkable result of a market value of nearly 2.2 billion US dollars in about 2 weeks, setting a precedent for the TON ecosystem.

However, the classification of NOT tokens has become a focus of debate for many people.

Notcoin official channel document information

NOT Myth: Is it a Meme coin or a game token?

The reason for such a debate is mainly because there is a huge difference between Meme coins and game tokens, and this also determines the upper limit of the subsequent development of the NOT token to a certain extent.

Generally speaking, if a token is considered a game token, the main factors that influence it include:

1) The token is generated based on the game application;

2) The token has corresponding usage scenarios in the game;

3) The token has a certain in-game consumption closed loop.

Although NOT meets the first requirement, the second and third requirements are difficult to fully correspond to it. After all, the use scenario of NOT is currently more inclined towards application incentives, and the token consumption is also mainly controlled by the project party, including donations, destruction and other behaviors, most of which have nothing to do with user operations.

If we regard it as a meme coin of the TON ecosystem, it may be more in line with NOT's current market positioning and user impression.

Moreover, if the role of Meme coin is confirmed, NOT’s market value and the price of a single token are expected to maintain an upward trend, and become a major hope for TON ecosystem to break through the Web2 user group. After all, the market education bonus of Meme coin for Web2 users is obvious.

Not only that, the operating style of the Notcoin project behind NOT is also very similar to that of the Meme coin project. The blank white paper it released previously, the background image of its official account, and the "Probably Nothing" that was mentioned many times in the announcement all show the "Meme-style nonsense" of the Notcoin project.

Notcoin official account homepage background image

A quick look at potential projects in the TON chain ecosystem: Tap2Earn becomes mainstream

It is worth mentioning that the significance of NOT to the TON ecosystem is far more than just increasing some TVL or new users. In a sense, NOT is equivalent to opening the "ceiling of imagination" for other projects in the TON chain ecosystem, allowing many project owners and users to realize for the first time: "Oh, it turns out that in the TON ecosystem, the simple Tap2Earn model can create a project of such scale and high market value."

In addition, TON chain has some other potential projects. Combined with the official list of winners of The Open League, here is a brief summary:

Hamster Kombat

Hamster Kombat is a Tap2Earn management simulation game. According to reports, it has now covered more than 60 million users. In addition, Hamster Kombat’s YouTube channel achieved the astonishing achievement of “YouTube channel followers exceeding 10 million” in just 7 days. . Its official Telegram channel has nearly 24 million followers.

CatizenAI

CatizenAI is a new mini-game center platform + on-chain metaverse cat-raising game created by Pluto Studio, a Web3 mini-game publishing studio, based on past experience. The Beta test version was launched in March 2024; in April, Catizen's on-chain users reached 260,000, making it one of the fastest growing projects in the TON ecosystem; in June, according to official news, its number of users has exceeded 12 million, and the number of on-chain users has exceeded 730,000, winning the first place in the TON ecosystem The Open League twice in a row. Previously, it had officially announced that it would support the Notcoin (NOT) payment method in the game, and within 3 days after supporting NOT payment, it achieved a revenue of more than 50 million NOT. Subsequently, its official and Notcoin jointly announced the destruction of 5 million NOT from the revenue.

Tapswap

Tapswap is a mining game similar to Notcoin’s Tap2Earn. It is worth mentioning that according to search engine results, the game seems to be popular among many Nigerian players. By tapping the screen, you can get game coins and then exchange them for real fiat currency. It has to be said that this move is quite similar to the style of Axie Infinity, which supported the economic pillars of many Southeast Asian families. At present, the number of followers of its Telegram channel has reached about 17.5 million.

Yescoin

As the name suggests, this is another Notcoin imitation, and it just won the second place in the App competition ranking in The Open League. According to its official channel introduction, the project is currently in the first stage, that is, the fair mining stage; the number of channel followers is about 4.43 million.

Ston.fi

Ston.fi is an AMM DEX built on the TON chain, offering almost zero fees, low slippage, an extremely simple interface, and direct integration with the TON wallet. It previously announced in May that it had completed a new round of financing, with CoinFund participating. The specific amount of financing and valuation data were not disclosed. According to officials, the financing funds will be used for further operations, thereby expanding financial services to Telegram users, allowing users to trade encrypted assets across multiple blockchains without bridging or packaging. Currently, the number of followers of its official channel is around 300,000.

For more TON ecosystem projects, please refer to the previous article "Ton Ecosystem is on the Rise, a Quick Look at 14 New Round Foundation Grant Projects" and the official account of TON Ecosystem The Open League.

Summary: Web2 fission strategy helps ecological miracle

After NOT completed the "exchange debut" of TON ecosystem through wash and pull, TON ecosystem seems to have found a different development path of "Web2 applet + H 5 mini-game + Web3 human mining + inviting fission by pulling in people". Combined with the ecological incentive plan launched by TON Ecological Foundation through various methods and channels mentioned in the previous article "In-depth Interpretation: What new species will USDT+TON+Telegram mutate into?", perhaps in the near future, we will be able to see the TON ecological network with TVL and the number of active on-chain users continuing to set new highs, realizing the Mass Adoption (da'gui) that many people have dreamed of.

I just hope that users who have come all the way from Web2 can continue to find fun and value after tasting the “sweetness” of the Web3 airdrop and become one of the subsequent builders of the TON ecosystem.

Reference articles:

As market heat surges, is Notcoin a new way to open GameFi?

LD Capital: Can the viral Notcoin become a meme coin that breaks out of the Ton ecosystem?