Can the viral Notcoin become the MEEM coin that breaks out of the Ton ecosystem?

Written by: LD Capital

This article was originally published on March 28 this year

1. TON with 900 million monthly active users

The Open Netwotk (TON) was originally named Telegram Open Network. It was created by the Telegram team in 2018. After being accused by the SEC of conducting an unregistered securities offering during the ICO era, the Telegram team paid a fine to reach a settlement and abandoned the project.Community TON Foundation continues to develop and operate. Although it has been separated from Telegram in name, the actual connection between the two is still direct. TON has always been the only public chain officially supported by Telegram and continues to be deeply integrated with Telegram. TON will continue to benefit from Telegram's huge user base and traffic entrance. Telegram will build a decentralized digital ecosystem with freedom and privacy by supporting TON.

Telegram has attracted many users around the world by adhering to the principles of freedom of speech and privacy protection. It has more than 1.3 billion registered users and nearly 900 million monthly active users (MAU). At the same time, Telegram has great advantages in acquiring Web3 users. Thanks to the relaxed speech atmosphere and regulatory environment, almost all Web 3.0/Crypto projects operate communities on Telegram, and Telegram users are concentrated in Asia, Europe, South America and the Middle East. They have obvious retail characteristics and strong demand for peer-to-peer payments, making them an ideal group of Web3 users to be converted.

Recently, in addition to Telegram founder Durove expressing his intention to consider an IPO, Durove announced in his personal channel that TON TokenThe Telegram advertising platform will be officially open to all advertisers in nearly 100 new countries. In order to ensure fast and convenient advertising payment and withdrawal,Safety, will exclusively use TON Blockchain, content creators will be able to cash out their Toncoin, or reinvest it to promote and upgrade their channels. These moves will accelerate the development of the TON network and truly broadenBlockchainuse cases and scenarios.

2. Viral Notcoin

Notcoin is a free and easy-to-use Telegram game, in which people mainly earn coins by clicking on their mobile phone screens. Since its launch on January 1, 2024, its popularity has surged. Currently, the game has more than 30 million participants, with an average daily active user base of 5 million, making it the fifth-most active channel on Telegram.

根据 TON 基金会的声明和对外接受的采访透露，Open Builders 创始人 Sasha Plotvinov 和她的团队在构建 Notcoin。Open Builders 是一个致力于为 TON 区块链上的项目提供融资的组织。它与 Tonstarter 相关，该平台去年成功筹集了 150 万美元的种子资金，专门用于支持基于 TON 区块链的项目。此外，TON 的官方推特也多次转发 Notcoin 相关的推文，Notcoin 的官方推特当前具有 150 万粉丝。

In early March, Notcoin launched a feature that allows elite players to convert large amounts of in-game currency into NFT vouchers, which can be used to trade in otherTokenTrading before the official release. Players can choose to exchange 10 million or 100 million game coins for coupon NFT. Currently, the NFT has been listed on the TON ecosystem NFT trading platform Getgems for advance trading and pricing. When the token is officially issued on the chain, the NFT can be exchanged for tokens.

According to Notcoin’s game representatives, the token generation event and subsequent airdrops to players will take place in late March or early April.

3. Comparison of relevant data

According to data on the 27th, there are about 500,000 Notcoin NFTs in circulation, with a current value of 10M=9TON (calculated at 5U), a market value of approximately US$22.5 million, a total transaction volume of 2 million TON, and a transaction amount of approximately 10 million.

Since March 15, Notcoin NFT trading volume has become active. On the 25th, the recent highest transaction volume was 25,000, with an average transaction price of 10M=6.7TON and a transaction volume of US$837,500. On the 26th, 21,000 transactions were made.Xiaobai NavigationThe average transaction price was 10M = 9.9TON, and the transaction amount was 1.0395 million US dollars. The highest transaction price appeared on March 13th at 10M = 66TON, and the lowest price appeared on March 20th at 10M = 3.7TON.

Bybit announced on Monday that the Telegram-based meme coin Notcoin ($NOT) will be listed on its pre-market trading platform starting at 10:00 a.m. UTC on Monday. According to data on the 27th, the bybit pre-market trading price was 10M = 60–90 U.S. dollars, which is a considerable premium over NFT market transactions.

Compared with FISH, the top meme coin in the current TON ecosystem, its current market value is 39 million and its 24-hour trading volume is 2.55 million. In the NFT trading stage, Notcoin's market value and trading volume are about 1/2 of FISH.

IV. Conclusion

Currently, the increase in meme coins has become an important way for the public chain ecosystem to break through. The TON ecosystem is currently in a relatively early stage, but backed by Telegram's huge number of users, its development potential is unquestionable. Compared with the development of TVL of ecological projects, meme-driven popularity has become a more achievable method in the short term. Overall, the Notcoin project has received official support from TON and has a huge user base, and has the opportunity to become a meme coin option that breaks through the circle. However, the risk is that the current token economy is still unclear. More than 20 million US dollars of NFTs have been circulated before the secondary launch, and there is a lot of selling pressure when it is launched, but based on fundamentals, it is believed that the project has potential in the medium term.

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