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Telegram Notcoin Game Burns $3 Million in NOT Tokens
Telegram’s Notcoin, the pioneer of tap-to-earn gaming, recently burned $3 million worth of NOT tokens to increase scarcity and increase value.
This strategic move is part of a larger effort to reward active users and support a strong economic environment within the Notcoin community.
Token Burn and Rewards: Notcoin’s Strategy for Future Growth
The Notcoin team plans to significantly reduce the number of circulating tokens burning up the unclaimed ones. This action aims to increase the scarcity and potential value of the remaining tokens.
In addition to burning of tokensNotcoin has announced a series of rewarding initiatives. An impressive $5 million in Notcoin will be distributed as a bonus to the most loyal members of the community, especially those active in Notcoin Explore at the Gold and Platinum levels.
To know more: What is Notcoin (NOT)? A guide to the Telegram-based GameFi token
The remaining unclaimed tokens will be added to the Notcoin treasury to support future development projects. This strategic allocation highlights Notcoin’s commitment to enhancing its ecosystem and ensuring the long-term sustainability of its platform. After these initiatives, the overall tokenomics of Notcoin will reflect 95% of the tokens in the hands of the community and 5% in the Notcoin treasury.
At the time of writing, Notcoin boasts a market capitalization of 1.65 billion dollars. Despite the significant amount, this figure decreased by approximately 40.6% compared to June 3. The price action also shares a similar sentiment, down 43.4% from its all-time high of $0.02836. NOT is currently trading at $0.01609.
NOT price performance. Source: BeInCrypto
Challenges and triumphs in creating a successful Telegram mini-app
Notcoin has had a significant impact on the cryptocurrency industry since its launch as a Telegram mini-app in January. Developed by Open Builders and led by CEO Sasha Plotvinov, Notcoin quickly became a sensation in the gaming community, attracting over 35 million players and 6.5 million daily active users. This notable growth can be attributed to its tap-to-earn model, which has seen users collectively tap over 8.8 trillion times.
In an exclusive interview, the founders shared insights into the project’s journey and vision for the future. Andrew Rogozov of The Open Platform and Sasha Plotvinov discussed the resulting challenges and strategies The Rapid Growth of Notcoin and their plans to continue expanding the platform.
Plotvinov explained that building something viral on Telegram may seem easy, but ensuring its sustainability, fairness and transparency is the real challenge. In the long term, he suggested, only sustainable projects that deliver on their promises will thrive.
“My advice is to focus not only on the viral aspect but also on the purpose behind your efforts and the long-term vision. Your plans should prioritize sustainability. Test your ideas thoroughly and resolve any doubts or uncertainties promptly. Avoid creating potential future problems for yourself by being proactive and adaptable from the start,” Plotvinov said.
Looking to the future, Notcoin aims to expand its services and improve its integration with the TON blockchain. It plans to further engage its community through additional games and interactive experiences.
To know more: Tap-to-Earn: What to Know About the Crypto GameFi Trend
This focus on innovation, community involvement, and user engagement sets Notcoin apart in the cryptocurrency market, positioning it for continued growth. Supported by an active community and a strong ecosystem, Notcoin is poised for a promising future with new opportunities for users.
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