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5 things to know before the launch of the “Notcoin” token.
THE Not money the token has finally arrived… well, almost. After a couple of missed deadlines in April, the NOT token activates The open network (TON) will launch in a matter of hours, with exchanges such as Binance and OKX ready to list the token on May 16th.
Tens of millions of players will also be able to claim their NOT allocations at the same time, meaning Notcoin is poised to be not only one of the largest gaming token launch of 2024, but perhaps one of the biggest overall declines in cryptocurrencies in 2024.
If you haven’t been following the latest updates, there are some key things you need to know, whether you plan to claim your NOT tokens, purchase them, or perhaps try to earn some through staking campaigns. Here’s a quick final introduction before Notcoin launches.
1) Staking campaigns
While there was already a notable player base, Notcoin also partnered with major cryptocurrency exchanges Binance AND OKX to seed billions of NOT tokens into their respective customer bases, perhaps opening up a larger audience of NOT holders and traders.
But that window is closing fast. Between the two campaigns, more than 4 billion NOT tokens were offered to users staking other cryptocurrencies. And Binance users jumped at the opportunity, aiming around 14 billion dollars to take a share of the prizes.
As of this writing, there are only a couple of hours left to claim rewards via Binance, but several hours left to do so via OKX, so act quickly if you still can.
2) At the time of listing?
Second Notcoin official posts on Wednesday, the token will be listed on major stock exchanges at 00:00 UTC on Thursday, which is 9:00 AM Eastern.
Binance, OKX, Bybit, KuCoin and Bitfinex are among those who have already announced plans to list the token immediately. The total supply of NOT is just over 102.7 billion tokens, of which approximately 80.2 billion are offered to players via airdrop claim.
3) Claim your coins
If you mined game coins between January and April 1, the end of the mining phase, then you can claim your NOT tokens on the chain. Around 35 million players in total have jumped into the Telegram-based clicker game and are NOT being awarded tokens at any given time Conversation rate 1,000 to 1. So if you have mined 100,000 coins in the game, you will have 100 NOT to claim.
Notcoin opened up the in-game refund request process to all players on Tuesday, starting with the ability to transfer tokens to a centralized exchange account or stake them for future rewards and logins – more on that in a bit. On Thursday, once the token has been listed, Notcoin will add the ability to withdraw earned NOTs to a self-custody wallet as well.
4) Should you bet?
For some players, the NOT token launch may end their planned journey with Notcoin. Cryptocurrency traders you launch “farm”. all the time, and this was simple and widely known. But Open Builders, the team behind Notcoin, aims to keep some of those millions of users on board.
When you request your NOT tokens, Notcoin will ask you if you want to stake (or lock) your tokens in-game for a period of 30 days, meaning you will not be able to withdraw or sell them during that period.
But by doing so, Notcoin says you’ll be able to “Explore and earn extra rewards” and gain “Exclusive Access” to staking pools based on your player level. Keeping your tokens locked for a month is a risk, as with any cryptocurrency decision, but it could bring future benefits if you’re not in a rush to cash out and move on.
5) What is the next step?
Notcoin will bring back its coin withdrawal game and launch a new type of reward model, but there are bigger ambitions in the future, as shared with Sasha Plotvinov, co-founder of Open Builders Decipherit’s GG.
In the short term, Notcoin will bring back the familiar game with the added ability to earn real NOT tokens instead of more in-game coins. But with all the tokens minted and distributed, there will be some a new model. Projects and companies will be able to purchase NOT on the market and pour it into the game to fuel in-game rewards to earn, sharing tokens with players who interact with their content.
Beyond that, Plotvinov shared what Notcoin aims to become the “Netflix of social and viral games” serving as a platform for third-party developers to distribute their simple and addictive games that can potentially reach a sizable audience, with nominal rewards of course.
By Ryan Ozawa.