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Key Takeaways
Telegram is introducing a “gaming accelerator” backed by $50 million from Helika Gaming. This venture aims to encourage game studios and indie developers to create new applications on the Telegram platform using the TON blockchain. Meanwhile, the Notcoin (NOT) token has seen a 50% drop over the past month, losing more than $1 billion in market capitalization.
The popular Web3 game on Telegram, Notcoin (NOT), has announced a strategic partnership between Telegram, Notcoin, and Helika Gaming to develop new gaming experiences on Telegram.
In an effort to leverage the popularity of Notcoin and Hamster Kombat, there is potential for a wave of new blockchain-powered mini-apps to appear on Telegram.
Telegram Gaming Accelerator
Notcoin has revealed that Telegram will collaborate with Helika Gaming to deliver new experiences and apps to millions of Telegram users.
According to Notcoin, the play-to-earn (P2E) app has introduced the “new meta” of Telegram-based mini-apps powered by The Open Network (TON) blockchain.
This collaboration includes $50 million in funding from Helika Accelerate, aimed at supporting game studios, app developers, and indie creators in bringing their Web3 projects to life.
Helika plans to integrate Notcoin’s “questing” platform into its product stack, which will enable its Web3 analytics platform to optimize user acquisition, among other features.
Applications for the first cohort are expected to open next week, according to Notcoin.
Notcoin (NOT) Price
The NOT token has been largely unresponsive to this news, continuing to follow the broader bearish trend in the crypto market.
Data from CoinMarketCap shows that the NOT token has dropped 10% in the past 24 hours and over 50% in the past month. Currently, NOT is trading at $0.01172.
The market cap of NOT, which briefly placed it in the top 50 cryptocurrencies, has halved from $2.5 billion at the start of June to $1.2 billion today.
Notcoin Token Burn
The Notcoin token burn initiative began in mid-June. According to a post on the Notcoin Community Telegram, the team burned $3 million worth of Notcoin, with an additional $4.2 million set to be distributed to higher-tier users of the Notcoin app.
Notcoin states that 94.18% of the token’s supply is held by 11.5 million people, including traders, miners, and stakers, with the remainder in the team’s treasury for future development.
New Binance Pair Listing
In May 2024, Binance expanded trading options for NOT, officially listing it and introducing a NOT to Brazil Real (NOT/BRL) trading pair as of June 13, 2024.
Notcoin benefits from being based on The Open Network (TON), the flagship blockchain network of Telegram, which boasts a user base of 900 million. This extensive reach supports the Notcoin app, which aims to introduce and promote new TON ecosystem projects.
According to Delphi Digital, the number of daily active addresses on TON currently outpaces Ethereum, indicating that the TON ecosystem is thriving.
40 Million Users
As of early June, Notcoin (NOT) announced that its Telegram-based P2E game had reached 40 million users, adding 5 million in just a week.
Following this announcement, the price of the NOT token experienced a brief spike, rising 9% from around $0.01778 to a high of $0.01941.
Currently, the market cap is $1.9 billion, down from $2.56 billion a month ago, placing it 53rd by market cap. Last week, it had significant 24-hour trading volumes of around $2.2 billion, ranking it 7th, but today it has dropped to $845 million, ranking 11th between Ripple (XRP) and Dogecoin (DOGE).
According to Notcoin, users have earned over $1.5 million across 20 campaigns where they can explore, learn, and earn rewards. Notcoin anticipates a tenfold increase in the number of campaigns and rewards once automated campaigns are launched.
What is Notcoin (NOT)?
Notcoin (NOT) is a play-to-earn (P2E) token and game on the Telegram messaging app and is a part of The Open Network (TON) ecosystem.
The project launched in late 2023, initially requiring users to tap a virtual gold coin to earn or “mine” NOT tokens. In May 2024, the game introduced quests and tasks, such as discovering and interacting with new Web3 projects, expanding its earning potential.
Following the addition of these features, the NOT token gained 147% in value within a week, breaking past the 1 cent mark to $0.02376.
Analysts predict the NOT token could reach $0.047 in 2025. However, the project lacks a whitepaper with detailed explanations. Despite this, it has attracted millions of players and significant investment.
How to Play
The viral game may be the latest hype in the crypto space and requires some due diligence. Users have a limited amount of “energy” for each tap, capping the maximum tokens at 1,000 per session, which can be increased with certain features.
Players can use a “Boost” feature to increase the NOT tokens received, use an auto-tap bot, reduce energy recharge time, increase energy levels, and more. All boosts are purchasable with earned NOT.
Players can also complete tasks to earn, such as referring friends, activating Telegram Premium, owning certain NFTs, and interacting with Web3 projects in the TON ecosystem. Additionally, players can stake their NOT tokens to access higher-earning campaign pools.
Users can trade or sell their earned NOT tokens on exchanges like Binance and KuCoin.
Notcoin Roadmap
Leveraging Telegram’s 900 million monthly active users could provide long-term value to Notcoin’s popularity. Its ability to sustain momentum depends on adequately rewarding its reported 40 million users.
Notcoin aims to increase its earning potential by 10x, introduce new levels, allow earnings sharing, and simplify the launch of new projects on the app.
Though the project’s website lacks a detailed whitepaper, it intends to continue onboarding new projects to promote through P2E campaigns. It hopes to become a community-driven ecosystem with more games, staking opportunities, trading bot functionality, and an NFT voucher/reward program.
Details are sparse, and the optimism around the project seems driven by the NOT token’s recent performance. Time will tell if this ambiguous project can maintain its level of interest.
