The market heat is soaring, is Notcoin the new way to unlock GameFi?

Introduction

Notcoin is a GameFi game based on Telegram, attracting tens of millions of users and attention. The highest daily active data reached 6 million. The token NOT will be launched on the CEX trading platform on May 16th, combined with the development layout of the TON ecosystem. It may become the opportunity to trigger the GameFi craze.

A GameFi with Simple Design and Amazing Historical Data

Although it also has gamification and interesting design, the basic gameplay of Notcoin is repetitive clicking to mine and earn token rewards. It is this simple mechanism design that quickly made it popular. One week after its launch, it attracted over 5 million players. By early April, the game had paused (for token issuance preparation) and had attracted 35 million players globally, with a daily active user count of 6 million, far exceeding other crypto games.

In early March, Notcoin allowed elite players to convert a large amount of in-game currency into NFT vouchers, which could be traded before the official issuance of its tokens. Data shows that there are approximately 500,000 circulating Notcoin NFTs, valued at 10M=9TON (calculated at 5U), with a market value of around $22.5 million. The total trading volume is 2 million TON, with a trading volume of about $10 million. The highest price occurred on March 13th at 10M=66TON, and the lowest price on March 20th at 10M=3.7TON.

The popularity of Notcoin highlights the huge potential of games to attract users and generate income for users within the game. Compared to many other GameFi projects, Notcoin, although it also has many value-added designs and gameplay features (team cooperation, points leagues, energy management, and referral rewards), its simple and clear path and task design make it easier for users to accept and become addicted.

Prominent Meme Features, Perfect Presentation of Play and Earn

Notcoin has always been mocked by the community for its blank whitepaper. Although labeled as a whitepaper, the document is basically blank except for the title and date. This has not only raised doubts about the long-term viability of the project and the seriousness of its developers but has also made Notcoin's community more vibrant, seemingly fueled by curiosity and speculation about the entertainment crypto world. Coupled with its simple Play and Earn model mechanism, Notcoin has become the perfect combination of GameFi and Meme.

Key Project in the TON Ecosystem, Widely Expected Breaking Boundaries

Currently, Notcoin has received official support from TON and has a huge user base. Notcoin effectively promotes various projects in the TON ecosystem through game tasks, such as STON.fi and Fragment. It is more like a key layout of the TON ecosystem, serving as an entry point for wide ecosystem participation, rather than just an entertainment project.

In the days leading up to the launch of NOT, the Total Value Locked (TVL) of the TON network has significantly increased. As of May 10th, the TVL is 41.16 million TON, showing a growth of about 35% in May and a 7-fold increase since 2024, highlighting the strong demand for TON and the pull effect of NOT on the TON ecosystem.

The TON ecosystem is currently in its early stages, backed by Telegram's huge user base, its development potential is undeniable. With Solana and Base setting precedents for empowering the MemeCoin ecosystem to break boundaries and increase TVL, Notcoin is seen as a key project that can help TON achieve breakthrough expansion. Compared to the development of TVL in ecosystem projects, Meme-driven hype is an easier short-term method to achieve.

However, the risk lies in the fact that Notcoin, as a symbol of novelty and speculation in the crypto community, is more driven by community participation and speculation rather than substantive technological innovation. Moreover, there are already over $20 million worth of NFTs circulating before the secondary listing, which may lead to significant selling pressure upon NOT's launch. But based on its current fundamentals and DEX trading data, NOT still has great potential after its launch.

Pantera Capital founder Dan Morehead mentioned on social media that Pantera recently made the largest investment in the TON blockchain project in the fund's history, increasing the attention on the TON ecosystem. If project financing and product launches can be timely implemented, the prosperity of the TON ecosystem will arrive faster.

Upcoming Listing on Binance, Market Heat Rapidly Rising

News indicates that NOT will soon be listed on trading platforms including Binance, Bybit, OKX, Bitget, and will be launched on Binance's Launchpool on May 13th, accounting for 3% of the total issuance. Additionally, OKX plans to distribute approximately 1.28 billion NOT tokens to users through Jumpstart, accounting for 1.25% of the total supply of NOT tokens.

With the positive stimulation of NOT's listing on platforms like Binance, AEVO started pre-trading NOT on May 9th, with the price rising from $0.0056 to $0.01183. Various chain NOT tokens also appeared on DEX, although their authenticity is difficult to discern, they indeed boosted the market heat of NOT, especially the outbreak of related information in X, which has warmed up the launch on major trading platforms, making the TON ecosystem once again the market focus.

Notcoin Could Become a New Way to Open GameFi

Starting in 2021, the crypto market has seen a GameFi craze, giving rise to hundreds of GameFi projects. Axie Infinity, Decentraland, The Sandbox, and StepN have become temporary focuses. At its peak, Axie's daily income even surpassed Honor of Kings. However, as the craze subsided, GameFi has always been in a state where the heat of the track is constant but there are not enough star projects to support the track.

However, GameFi has a huge potential market, and practitioners and users have never forgotten it. Looking at the investment records of industry VCs, GameFi projects have always been in the TOP3 position in terms of proportion, second only to infrastructure and DeFi. People's perception of the GameFi track and projects has evolved from "Play to Earn" to "Play and Earn," and GameFi projects anchored in traditional games have always struggled to satisfy both existing and new users.

Relying on the explosion of the TON ecosystem and Telegram, Notcoin, although sudden, is within reason. Compared to other "Play and Earn" projects, Notcoin appears more direct and more in line with the preferences and characteristics of current users in the existing market. This could potentially become a new way to open up GameFi, and the launch of NOT could also be an opportunity for the GameFi craze to rise again. Let's wait and see!