Telegram Game 'Notcoin' Launches Pre-Market Trading Ahead of Airdrop

Notcoin, the viral tap-to-earn game on messaging app Telegram, announced on Thursday the launch of pre-market vouchers—NFTs that live on The Open Network (TON) that will allow high-level players to trade their future NOT tokens before the airdrop has been conducted. 

The minimum amount of mined Notcoin required to convert into an NFT voucher is 10 million coins, with the next-sized voucher available at 100 million coins. As such, the vouchers are only available to hardcore players that have amassed at least eight figures worth of in-game coins.

Vouchers can be used to trade NOT before the token is launched, and at the time of launch, will be convertible into NOT tokens. If players aren’t interested in pre-market trading, then they don’t have to participate—they can simply exchange their Notcoin in-game balance for NOT when the token goes live. 

Notcoin is a Telegram-based game where users tap an image of a coin in order to earn in-game coins. The team behind Notcoin recently confirmed that there will be an airdrop to the game’s player base of 26 million users, which representatives told Decrypt’s GG is targeted for late March or early April.

It’s unclear at what rate the in-game currency will be exchangeable for the NOT token once it's live, but the NFT voucher system will allow players to speculate on the future value of the token.

The top voucher sale on Thursday via the Getgems NFT marketplace on The Open Network was for 100 million Notcoin, which sold for $2,760 worth of Toncoin (100 TON). The NFT vouchers have a 20% royalty fee, the profits from which will go to funding NOT liquidity for token listings once it goes on-chain.

Notcoin team members participated in a Twitter Space on Thursday where they outlined the voucher system,  as well as covered the upcoming token burn. In the space, the team clarified that every time someone buys a boost with their in-game coins, they are burning those tokens.

And as announced last week, Notcoin is also gradually burning in-game token balances of players that have been inactive for 30 days or more. The developers said Thursday that over 5 billion in-game coins have already been burned over the course of two days, and that inactive users’ balances will be burned at a rate of 5% per day until they play again.

During the Space, the team also mentioned that the highest user allocation possible for the NOT token is 0.03% of the total token supply. They said that users who had invited many other players to join Notcoin are the ones most likely to receive the highest allocation. 

Upon launch, Notcoin will be run by a DAO—or decentralized autonomous organization—that already has 158,000 members. While the team hasn’t disclosed what exactly the DAO will be responsible for, or what kind of proposals will go up for vote, the developers mentioned a “meta game” within the Notcoin game where they released a sound clip featuring morse code.

According to the team, 158,000 users realized the sound clip was morse code and tapped the code into their Notcoin app. Users who did so were sent a mysterious Telegram message by the Notcoin bot asking them, “Red or Blue Pill?” Users who picked the red pill were redirected to NOT DAO where they could read the DAO manifesto.

Edited by Andrew Hayward