Pavel Durov, the innovative mind behind Telegram, recently experienced a remarkable show of appreciation from Notcoin players, resulting in a generous donation. According to reports, over half a million players of the viral Telegram-based clicker game donated a portion of their in-game coins to Durov as a token of gratitude for hosting the interactive crypto game. This gesture has greatly impacted Durov’s financial portfolio, as the donated haul has escalated in value to millions of dollars. Currently, Durov intends to retain the tokens until they witness a 100x increase in value.
Generosity of Notcoin Players
In February, the community of Notcoin players, totaling more than 552,000 individuals, united to contribute a portion of their in-game currency to Durov. This collective effort led to Durov acquiring an impressive sum of over 1.03 billion NOT tokens, equating to just over 1% of the total Notcoin supply on The Open Network (TON). At present, the estimated value of these tokens is approximately $7.3 million, slightly up from the initial $6.8 million when Durov publicly acknowledged the donations.
“Notcoin, with its burgeoning popularity and Durov’s unwavering belief in its potential, stands as a testament to the evolving landscape of the cryptocurrency realm,” noted a financial analyst.
Despite possessing an estimated fortune of $15.5 billion according to Forbes, Durov has conveyed a firm stance against selling these tokens, demonstrating his faith in the long-term prospects of Notcoin. Nevertheless, he has outlined a threshold for potential sales – if the value of the NOT token reaches $680 million, Durov plans to divest them to procure additional servers for Telegram, eluding any financial pressure.
Evolution of Notcoin and TON Space
Notcoin, emerging as one of the prominent gaming tokens of the year, commenced its journey with a staggering market capitalization of nearly $1.5 billion. Following the trend of nascent cryptocurrencies, the value of NOT observed fluctuations post-launch, enduring a 50% decline to its existing price just above $0.007, as per CoinMarketCap data. Despite this setback, NOT currently holds the position of the 101st most valuable cryptocurrency in terms of market capitalization, amounting to $746 million.
- Impressively, the trading volume for Notcoin exceeded $1 billion within the initial 24 hours of its introduction into the market.
- Paused briefly in April for preparations related to the token rollout, Notcoin plans to recommence its coin-tapping gaming experience, foreseeing a broader spectrum of games to be integrated into its platform.
- Co-creator Sasha Plotvinov envisioned Notcoin’s expanded role, aiming for it to become the “Netflix of social, viral games,” emphasizing a futuristic perspective in an interview with Decrypt’s GG.
Concurrently, TON Space, a self-custodial wallet, will be accessible to Telegram’s worldwide user base starting November, eliminating the necessity for wallet registration. This development extends upon the existing custodial version of the Telegram wallet, which has gained a substantial user base of three million registrants. However, specific regions such as the United States are excluded from this self-custodial service due to heightened regulatory scrutiny and geofencing imposed on numerous crypto applications within the country’s market landscape.
Furthermore, the Telegram TON Blockchain has introduced a novel feature enabling Telegram users to transfer Tether (USDT) seamlessly. A recent transition of the overseeing team behind The Open Network (TON) blockchain into a Swiss non-profit entity reflects the ongoing evolution and maturation of the cryptocurrency ecosystem.
