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Notcoin has recently airdropped over 80 billion tokens to approximately 35 million players via The Open Network (TON). The massive distribution marks the largest gaming token launch of 2024, generating over a billion dollars in trading volume since its debut.
Launch and Market Impact
More than four months after launching its game on Telegram, Notcoin introduced its native cryptocurrency, the NOT token, on Thursday. This significant airdrop, facilitated through The Open Network, set new records in both the gaming and cryptocurrency sectors. The entire supply of 102.7 billion tokens was minted at the outset, with the NOT token currently trading at around $0.0076 according to CoinGecko, giving it a market capitalization of approximately $776 million.
Player Engagement and Staking Rewards
The airdrop rewarded about 35 million players for their engagement with the game. Notcoin also initiated staking rewards campaigns on major exchanges Binance and OKX earlier this week, providing additional incentives for players to hold and stake their NOT tokens. These campaigns are designed to enhance the token’s stability and encourage long-term holding among players.
Volatility and Market Performance
Following the launch, the NOT token experienced significant price fluctuations, a typical scenario for new crypto tokens due to limited liquidity. CoinGecko and CoinMarketCap reported differing peak prices: CoinGecko recorded a high of $0.0215, while CoinMarketCap noted a peak of $0.0144. This led to varying market cap estimates, with CoinGecko suggesting a peak of $2.21 billion and CoinMarketCap estimating a peak of $1.48 billion.
Despite these discrepancies, Notcoin’s launch has significantly impacted the market, surpassing other notable gaming tokens in terms of market cap. For instance, Pixels (PIXEL) peaked at $731 million, and Saga (SAGA) reached a peak of $684 million, according to CoinGecko.
Trading Volume and Market Position
Notcoin’s trading volume exceeded the billion-dollar mark within hours of its launch, with CoinMarketCap reporting approximately $1.07 billion worth of trading volume. This remarkable volume positioned NOT as the 14th most-traded coin over the last 24 hours, highlighting the significant market interest and activity surrounding its launch.
Understanding the Notcoin Airdrop
An airdrop in the cryptocurrency world refers to the distribution of free tokens to a large number of wallet addresses, often used as a marketing strategy to promote a new cryptocurrency and encourage wider adoption. Notcoin’s airdrop, executed through The Open Network (TON), distributed over 80 billion NOT tokens to approximately 35 million players who had been engaging with the Notcoin game on Telegram.
How to Claim Notcoin Tokens
Claiming Notcoin tokens from the airdrop was a straightforward process for players. Here’s a step-by-step guide on how the airdrop was claimed:
- Game Participation: Players needed to actively participate in the Notcoin game on Telegram to be eligible for the airdrop. Engagement included completing in-game tasks, reaching certain milestones, or simply being active in the game.
- Linking Wallet: Players had to link their cryptocurrency wallet to their Notcoin game account to ensure the correct distribution of tokens.
- Receiving Tokens: Once the airdrop was initiated, eligible players automatically received their NOT tokens in their linked wallets based on their in-game activity and achievements.
- Trading and Staking: After receiving the tokens, players could trade them on various exchanges or participate in staking campaigns on platforms like Binance and OKX. Staking allowed players to earn additional rewards by locking their tokens for a specified period.
Notcoin’s airdrop and the subsequent launch of the NOT token represent a significant milestone in the gaming and cryptocurrency sectors. With over 80 billion tokens distributed to 35 million players, the event stands as the largest gaming token launch of 2024, highlighting the growing integration of blockchain technology in gaming. Despite initial volatility, the NOT token has made a substantial impact, showcasing the potential for future developments in this dynamic space. As Notcoin’s ecosystem continues to evolve, both players and investors are closely monitoring what promises to be a groundbreaking journey.
Featured image by Dima Solomin
