Notcoin (NOT) Exclusive Review: Everything You Need to Know

On May 9, 2024, Binance announced the launch of the 54th phase of its new coin mining project – Notcoin (NOT), a community token that introduces users to web3 through a mining mechanism based on clicking.

What is Notcoin (NOT)?

Notcoin is a free and easy-to-use Telegram game where players earn coins by tapping on their phone screens. Since its launch on January 1, 2024, it has gained immense popularity, with over 30 million participants and a daily average of 5 million active users, making it the fifth-ranked channel in terms of data on Telegram.

In early March, Notcoin introduced a feature allowing elite players to convert a large amount of in-game currency into NFT vouchers, which can be traded before the token’s official release. Players can choose to exchange 10 million or 100 million in-game coins for discount coupon NFTs. These NFTs are currently available for early trading and pricing on the TON ecosystem NFT trading platform Getgems and can be exchanged for tokens once officially issued on the chain.

Tokenomics and Binance Launchpool Status

Token Details

• Token Name: Notcoin (NOT)
• Maximum Token Supply: 102,719,221,714 NOT
• Initial Circulating Supply: 102,719,221,714 NOT (100% of maximum token supply)

Launchpool Mining Details

• Total Mining Volume: 3,081,576,651 NOT (3% of maximum token supply)
• BNB Mining Pool: Total mining capacity of 2,619,340,153 NOT (85%)
• FDUSD Mining Pool: Total mining capacity of 462,236,497 NOT (15%)
• Mining Period: From 00:00 UTC on May 13, 2024, to 00:00 UTC on May 16, 2024

How Notcoin Game Works

Notcoin operates entirely through the Telegram application, without the need for an official cryptocurrency wallet, trading account, or transaction fees, making it very easy to use. The premise of the game is simple: players tap on their phone screens to “mine” and accumulate Notcoin. Every new player to the game receives 2,500 NOT tokens, while Telegram Premium subscribers receive 50,000 NOT tokens to start their gaming experience.

Game Dynamics and Player Incentives

The game employs an energy system, limiting the amount of NOT tokens players can earn at once. Initially, each tap rewards players with 1 NOT, and they can continue playing until they reach the cap of 1,000 NOT tokens, at which point they must wait for their energy to replenish. To increase earning rates, players can invest in “boosters,” which temporarily increase energy capacity and the number of Notcoin earned per tap.

Additional features

Additional features are integrated to maintain player engagement. Occasionally, a rocket icon appears, activating turbo mode, allowing players to earn additional NOT tokens without consuming energy. Players can also increase their income by completing simple tasks, such as referrals, which is one of the easiest ways to earn more NOT tokens. Furthermore, joining or forming teams can provide competitive advantages, allowing players or groups to compete with others. As players complete various tasks, they advance through different league levels — from bronze to diamond — enhancing the game’s competitiveness.

Strategic Growth and Community Engagement

This structure not only keeps players engaged but also encourages strategic thinking and community interaction within the game. By integrating these elements, Notcoin goes beyond traditional mobile games to introduce cryptocurrency and digital economy concepts to players in a fun and interactive way. By innovatively utilizing the Telegram platform, Notcoin sets a new standard for mobile crypto games.

Crypto Community Sentiment towards Notcoin

The rapid rise of Notcoin has sparked discussions about its authenticity, with mixed views within the cryptocurrency community. Skepticism and optimism are common for emerging projects.

Reasons for Caution towards Notcoin:

• The Notcoin team lacks an outstanding track record and clear long-term goals, raising doubts about their ability to deliver on promises.
• As of January 2024, no real tokens have been issued, so the in-game currency has no actual value, exacerbating doubts about whether the promised cryptocurrency will materialize.
• There are concerns that the use of bots or fake accounts may inflate player statistics.
• The referral and bonus structure bears similarities to a pyramid scheme, although such systems are not uncommon in the gaming and cryptocurrency fields.

Reasons for Optimism towards Notcoin:

• Notcoin has received support from prominent participants in the blockchain ecosystem, such as TON Labs and the TON Foundation, enhancing its credibility.
• The openness of the game code allows developers to review and audit its functionality, helping alleviate concerns about fraudulent activities.
• The keen interest of cryptocurrency exchanges in the upcoming token suggests they believe in its potential viability.
• The game has gained widespread popularity without paid advertising, indicating genuine user engagement and interest.

Conclusion

Currently, the surge in meme coins has become an important way to break the enclosure of public chain ecosystems. Although the TON ecosystem is still in its early stages, its potential for development backed by Telegram’s huge user base is unquestionable. Compared to the development of TVL in the ecosystem projects, memes can more easily drive short-term popularity.

Overall, the Notcoin project, supported by TON’s official endorsement and with a large user base, has the potential to become a meme coin choice for breaking the enclosure. However, the risk lies in the current lack of clarity in the token economy. With over $20 million worth of NFTs circulating before secondary listing, there is significant selling pressure upon listing. Nevertheless, based on fundamentals, the project is believed to have potential in the medium term.