introduction
Notcoin is a GameFi game based on Telegram, which has attracted tens of millions of users and attention, with daily active data reaching up to 6 million. The token NOT will be launched on the CEX trading platform on May 16. Combined with the development layout of the TON ecosystem, it may become an opportunity to trigger the GameFi trend.
A simple design with amazing past data GameFi
Although there are also gamification and fun designs, the basic gameplay of Notcoin is to click repeatedly to mine and obtain token income. It is this simple mechanism design that made it quickly popular. A week after its launch, it attracted more than 5 million players. As of early April, when the game was suspended (to prepare for the issuance of coins), it had attracted 35 million players worldwide, with 6 million daily active users, far exceeding other crypto games.
In early March, Notcoin allowed elite players to convert large amounts of in-game currency into NFT vouchers that could be traded before its tokens were officially issued. Data shows that there are about 500,000 Notcoin NFTs in circulation, with a value of 10 M= 9 TON (calculated at 5 U), a market value of about US$22.5 million, a total trading volume of 2 million TON, and a transaction amount of about 10 million. The highest transaction price was 10 M= 66 TON on March 13, and the lowest price was 10 M= 3.7 TON on March 20.
The popularity of Notcoin highlights the huge potential of games to attract users and make them profit from the game. Compared with many GameFi projects, although Notcoin also has many value-added designs and gameplay (teamwork, points league, energy management and referral rewards, etc.), its simple and clear path and task design makes it easier for users to accept and become addicted.
Meme features are obvious, making Play and Earn perfect
Notcoin has been ridiculed by the community for its blank white paper. Although it is marked as a white paper, the document is basically blank except for the title and date. This has raised doubts about the long-term viability of the project and the seriousness of its developers. However, it has made Notcoins community more vibrant, and it seems to fully capture the curiosity and speculative enthusiasm of the entertainment crypto world. Coupled with its simple Play and Earn model mechanism, Notcoin has become a perfect combination of GameFi and Meme.
TON ecosystem key project, its ability to break through the circle is generally optimistic
At present, Notcoin has the official support of TON and has a huge user base. Notcoin has effectively promoted various projects in the TON ecosystem, such as STON.fi and Fragment, through game tasks. It is more like a key layout of the TON ecosystem, serving as an entry point for broad ecosystem participation, rather than just an entertainment project.
In the days before NOT is about to go online, the TVL of the TON network has increased significantly. As of May 10, the TVL is 41.16 million TON, an increase of about 35% in May and a 7-fold increase so far in 2024. This highlights the strong demand for TON and also proves the driving effect of NOT on the TON ecosystem.
The TON ecosystem is currently in its early stages, and with the huge number of Telegram users, its development potential is unquestionable. With the precedent of Solana and Base breaking through the circle and increasing TVL by empowering the MemeCoin ecosystem, Notcoin is seen as a key project that can help TON break through the circle and expand. Compared with the development of the TVL of ecological projects, Meme-driven popularity has become a more achievable method in the short term.
But the risk is that Notcoin, as a symbol of novelty and speculation in the crypto community, is driven more by community participation and hype rather than substantive technological innovation. In addition, more than 20 million US dollars of NFTs have been circulated before the secondary listing. There may be a large selling pressure when NOT is launched. However, based on the current fundamentals and DEX trading data, NOT still has great potential after its launch.
Dan Morehead, founder of Pantera Capital, mentioned on social media that Pantera recently made the largest investment in Telegrams TON blockchain project in the funds history, which has increased the attention paid to the TON ecosystem. If support such as project financing and product launch can be implemented in a timely manner, the prosperity of the TON ecosystem will come faster.
It will be listed on Binance soon, and the market popularity is rising rapidly
According to the news, NOT will be launched on Binance, Bybit, OKX, Bitget and other trading platforms, and will be launched on Binances Launchpool on May 13, accounting for 3% of the total issuance. In addition, OKX also plans to issue about 1.28 billion NOT tokens to users through Jumpstart, accounting for 1.25% of the total supply of NOT tokens.
With the favorable stimulus of NOT being listed on Binance and other platforms, AEVO was listed on NOT pre-market trading on May 9, and the price rose from $0.0056 to $0.01183. In addition, NOT tokens of various chains also appeared on DEX. Although it is difficult to distinguish the authenticity, it has indeed greatly increased the popularity of the NOT market, especially the outbreak of relevant information in X, which has done enough warming for the listing on major trading platforms. It also made the TON ecosystem once again the focus of the market in peoples eyes.
Notcoin could be a new way to open GameFi
Since 2021, the crypto market has been swept by a GameFi craze, and hundreds of GameFi projects have been born. Axie Infinity, Decentraland, The Sandbox and StepN have become the focus one after another. Among them, Axies daily revenue even surpassed Honor of Kings at its peak. However, as the craze subsided, GameFi has always been in a state where the track is always hot, but there are no star projects that are big enough to become the mainstay of the track.
However, GameFi has a huge potential market, and practitioners and users have never forgotten it. Looking back at the investment and financing records of industry VCs, the proportion of GameFi projects has always been in the top 3, second only to infrastructure and DeFi. Peoples attitude towards GameFi tracks and projects has also evolved from Play to Earn to Play and Earn, and GameFi projects anchored in traditional games have always been difficult to satisfy existing and incremental users.
Notcoin relies on the TON ecosystem and the explosion of Telegram. Although it is sudden, it is reasonable. Compared with other Play and Earn projects, Notcoin appears to be more direct and more in line with user preferences and user characteristics in the current stock market. This is likely to become a new way to open GameFi, and the launch of NOT may also become an opportunity for the revival of the GameFi trend. Let us wait and see!
Note: All the above opinions are for reference only and are not investment advice. If you disagree, please contact us for correction.
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