Introduction
Notcoin is a GameFi game based on Telegram, which has attracted tens of millions of users and attention. The highest daily active data reached 6 million, and 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 the opportunity to trigger the GameFi trend.
A simple design, astonishing historical data of GameFi
Although it also has gamification and interesting design, the basic gameplay of Notcoin is to click repeatedly to mine and earn token rewards. It is this simple mechanism design that has quickly made it popular. One week after its launch, it attracted over 5 million players. By early April, the game had attracted 35 million players globally, with a daily active user base of 6 million, far exceeding other crypto games.
In early March, Notcoin allowed elite players to convert a large amount of in-game currency into NFT vouchers, which could be traded before the official issuance of the token. Data shows that there are about 500,000 Notcoin NFTs in circulation, valued at 10M=9TON (calculated at 5U), with a market value of approximately $22.5 million. The total trading volume is 2 million TON, with a transaction amount of about $10 million. The highest price occurred on March 13 at 10M=66TON, and the lowest price occurred on March 20 at 10M=3.7TON.
The popularity of Notcoin highlights the huge potential of games to attract users and generate significant income for users within the game. Compared to many other GameFi projects, Notcoin, although it also has many value-added designs and gameplay (team cooperation, point leagues, energy management, and referral rewards), its simple and clear path and task design make it easier for users to accept and become addicted.
Obvious meme features make Play and Earn perfectly presented
Notcoin has long been ridiculed by the community for its blank white paper. Although labeled as a white paper, the document is basically blank except for the title and date. This has sparked doubts about the long-term viability of the project and the seriousness of its developers. However, it has made the Notcoin community more vibrant, seemingly completely driven by the curiosity and speculative enthusiasm of the entertainment crypto world. Coupled with its simple Play and Earn model mechanism, Notcoin has become the perfect combination of GameFi and Meme.
Key project in the TON ecosystem, widely seen as having the ability to break barriers
At present, Notcoin has received official support from TON and has a huge user base. Notcoin has effectively promoted various projects in the TON ecosystem through game tasks, such as STON.fi and Fragment. It is more like a key layout of the TON ecosystem, serving as an entry point for wide ecosystem participation, rather than just an entertainment project.
In the days leading up to the launch of NOT, the TVL (Total Value Locked) of the TON network has significantly increased. As of May 10, the TVL is 41.16 million TON, an increase of about 35% in May, and a 7-fold increase since 2024, highlighting the strong demand for TON and the driving effect of NOT on the TON ecosystem.
The TON ecosystem is currently in the early stages, backed by the huge user base of Telegram, its development potential is beyond doubt. With Solana and Base setting precedents for empowering the MemeCoin ecosystem and achieving a rise in TVL, Notcoin is seen as a key project that can help TON break barriers and expand. Compared to the development of TVL in ecosystem projects, the meme-driven heat increase is a more easily achievable short-term method.
However, the risk lies in the fact that Notcoin, as a symbol of novelty and speculation in the crypto community, is more driven by community participation and speculation than substantial technological innovation. Additionally, there are already over $20 million worth of NFTs in circulation before the secondary listing, which may lead to significant selling pressure when NOT goes online. But based on the current fundamental performance and DEX trading data, NOT still has great potential after going online.
Dan Morehead, founder of Pantera Capital, mentioned on social media that Pantera recently made the largest investment in the history of the fund in the Telegram TON blockchain project, increasing the attention to the TON ecosystem. If project financing and product launches are able to land in a timely manner, the prosperity of the TON ecosystem will come faster.
Rapid surge in market heat as it is about to go online on Binance
Reports indicate that NOT is about to go online on trading platforms including Binance, Bybit, OKX, Bitget, and will be launched on Binance's Launchpool on May 13, accounting for 3% of the total issuance. In addition, OKX also plans to distribute approximately 1.28 billion NOT tokens to users through Jumpstart, accounting for 1.25% of the total supply of NOT tokens.
With the favorable stimulation of NOT going online on platforms such as Binance, AEVO started pre-trading NOT on May 9, and the price rose from $0.0056 to $0.01183. NOT tokens also appeared on various chains in DEX, although their authenticity is difficult to discern, it indeed significantly increased the market heat of NOT, especially the outbreak of related information in X, which provided sufficient preheating for its launch on major trading platforms. It also once again made the TON ecosystem the market focus in people's eyes.
Notcoin may become a new way to open GameFi
Starting in 2021, the crypto market has set off a GameFi craze, giving birth to hundreds of GameFi projects. Axie Infinity, Decentraland, The Sandbox, and StepN have become temporary focuses. Among them, Axie reached its peak when its daily income once surpassed that of Honor of Kings. However, as the craze subsided, GameFi has always been in a state where the heat of the track is constant, but there are not enough star projects to become the pillar of the track.
However, GameFi has a huge potential market, and industry practitioners and users have never forgotten it. Looking back at the investment and financing records of the industry's VCs, the proportion of GameFi projects has always been in the top 3, second only to infrastructure and DeFi. People's perception of the GameFi track and projects has evolved from "Play to Earn" to "Play and Earn", and GameFi projects anchored in traditional games have always struggled to satisfy existing and new users.
Relying on the outbreak of the TON ecosystem and Telegram, Notcoin's sudden rise is not surprising. Compared to other "Play and Earn" projects, Notcoin appears to be more direct and more in line with the preferences and characteristics of users in the existing market. This could very well become a new way to open GameFi, and the launch of NOT could also be an opportunity for the resurgence of the GameFi trend. Let's wait and see!
Note: All the above views are for reference only and should not be considered as investment advice. If there are any objections, please feel free to contact us for corrections.
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