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Notcoin token goes on exchanges. What you need to know

Notcoin token goes on exchanges. What you need to know

Stay updated with the Notcoin gaming project's latest news, including its listing on major crypto exchanges and plans for future expansion.
5 minutes
17.05.2024
Editor Satoshi`s Secrets
Notcoin token goes on exchanges. What you need to know

In Brief

Major crypto exchanges started trading NOT, the token of the Notcoin gaming project on the TON blockchain, following its successful engagement of millions of players who could exchange coins for tokens. Notcoin began as a game within the Telegram messenger, attracting users with free token mining; it evolved into an advertising platform with simple tasks, drawing over 35 million users in a few months. The token’s listing on major exchanges sparked interest and excitement in the expert community, though technical issues with converting vouchers to NFTs and token distribution may limit NOT’s appeal to large investors.

All major crypto exchanges, including Binance, OKX, and Bybit, have announced the start of trading of the NOT game token Notcoin. Launched at the beginning of the year, the project gathered millions of players around it, who were credited with coins. They can now be converted into tokens running on The Open Network (TON) blockchain and traded on exchanges after listing.

Notcoin is a Web3 gaming project launched on January 1 inside the TON ecosystem. Technically, Notcoin is an application inside the Telegram messenger. The project attracted the attention of users due to the announced coin giveaway. The developers offered the application users to mine tokens by simply tapping on the smartphone screen. The game’s audience exceeded 35 million people in a couple of months, explains Nikita Vassev, founder of TerraCrypto.

Coin accrual in the app was closed on April 1, ahead of the token’s listing on crypto exchanges. Against the backdrop of NOT listing on exchanges, those who were credited with coins in the app will be able to convert them into the real token of the project. NOT token will also be added to the Telegram messenger wallet.

If we consider Notcoin as a big promo to promote the TON blockchain to the masses, the project is quite successful. The game developers managed to hit the right time slot with a convenient and interesting product. The reach-enhancing effect was quite strong, they managed to attract a huge number of new users.

The project started as a simple clicker game, and later reformatted into a kind of advertising hub with tasks of ‘subscribe – like – earn’ level. The attempt of onboarding (learning through immersion) of people far from cryptocurrency through simple quests and simplified explanations also became a noticeable plus. The listing of the token on major exchanges also contributed to the accelerated listing of Toncoin, because until then, many exchanges did not have integration with this blockchain. And it began to appear shortly before the listing date of NOT precisely because of this event, the analyst notes.

What will happen to the price of NOT

NOT will be the first token on the TON blockchain to be added to the listings of major crypto exchanges. According to the developers, there will be about another month to receive tokens and transfer them to exchanges, wallets, or staking. After that, most unclaimed tokens will be “burned”. About 10 million users have already expressed their intention to transfer NOT to exchanges and wallets.

Listings of HYIP coins on major trading platforms are often accompanied by an active growth in the rate of cryptocurrency. But many owners of coins will rush to cash them out. The day promises to be extremely volatile for NOT.

“I am not worried about the price level, there is excitement that some too big growth will happen, because many people who have not played Notcoin want to get in. No one would do it through vouchers,” project co-founder Alexander Plotvinov wrote in the partner chat of the OKX crypto exchange, answering users’ questions. According to him, since all the coins got to users for free, speculative risk will only occur for those who will buy tokens on the market.

Game coins could be converted into vouchers of different denominations in NFT format and traded on the secondary market. Part of the funds from their sale was allocated to the market makers of exchanges to create primary liquidity.

This approach caused “ambiguous emotions in the expert community”. Developers allowed the creation of NFT-vouchers with coins and their sale on marketplaces. However, due to technical limitations, they were unable to organize the stable operation of this function, opening it for very short periods of time. By the time they opened access to everyone for an extended period, the price of vouchers had already fallen ten times from the initial price.

The distribution of tokens also turned out to be ambiguous. For example, large influencers received rather modest rewards, while simple Notcoin chat moderators received ten times more bonus coins. Everything coupled with the creation of liquidity at the expense of users may contribute to the token’s price being “quite modest” without attracting large investors.

The project team has ambitious plans, including the creation of a trading bot in Telegram and new game applications, with NOT as the main currency for these initiatives.

Notcoin developers intend to provide their infrastructure to third-party developers to encourage the creation of new games, applications, and contests for users.

It can be assumed that the growing number of uses for the cryptocurrency will eventually push its exchange rate upwards,” notes an expert. “At the same time, it is worth keeping in mind the risks. We cannot exclude the scenario in which the developers’ plans will remain unrealized.

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