Notcoin (NOT), a viral play-to-earn (P2E) game on Telegram, has been making waves in the crypto space. Launched in late 2023, it allows users to earn NOT tokens by tapping a virtual coin and recently introduced “explore and earn” quests. This innovation boosted the token’s value by 147% in a week, propelling it to over $0.02.
However, despite its popularity, Notcoin faces challenges. Here’s a breakdown of the key points:
Telegram Gaming Accelerator Launched
Notcoin, partnering with Telegram and Helika Gaming, announced a $50 million gaming accelerator to foster new Telegram mini-apps built on the TON blockchain. This initiative aims to capitalize on Notcoin’s success and create a new wave of blockchain-powered games within the Telegram ecosystem.
NOT Token Price Slumps
Despite the accelerator news, the NOT token hasn’t reacted positively. It’s currently down over 50% in the past month, mirroring the broader crypto market downturn. Its market cap has also been halved, dropping from $2.5 billion to $1.2 billion.
Community Focus and Token Burning
Notcoin boasts a community-oriented approach. In June, they burned $3 million worth of tokens and distributed $4.2 million to higher-tier users. This strategy aims to increase token value by reducing overall supply. They claim 94.18% of the token supply is now held by users, with the rest reserved for development.
Riding the TON Ecosystem
Notcoin leverages Telegram’s massive 900 million user base and the TON blockchain’s growing popularity. TON’s daily active addresses reportedly surpass Ethereum’s, suggesting a potentially thriving ecosystem.
40 Million Users and Looking Ahead
Notcoin reports a user base of 40 million, with plans to expand its earning potential tenfold. They aim to introduce new user levels, friend-based earning structures, and automated campaign launches for new projects.
Uncertainties and Missing Pieces
While attracting millions of players, Notcoin lacks a whitepaper, leaving its future plans unclear. The project’s long-term success hinges on its ability to maintain user engagement and deliver on its ambitious roadmap.
Analyst Predictions and Research
Analysts predict a possible price of $0.047 for NOT in 2025. However, due diligence and research are crucial before investing, considering the project’s lack of transparency.
Conclusion
Notcoin’s recent partnership with Telegram and Helika is a positive step. However, the token’s price slump and missing project details raise concerns. Whether Notcoin can maintain its momentum and deliver on its promises remains to be seen.
