On May 17, Pavel Durov, founder of the instant messaging platform Telegram, thanked the Notcoin project for a generous donation.
This game-based initiative gave Durov and his team over 1 billion Notcoin (NOT) tokens, valued at roughly $6.8 million.
Notcoin Gains Backing from Telegram’s Durov
The tokens came from 552,586 members of the Notcoin community. Of these, 203,303 earned their tokens through the game. This effort shows the strong support from the Notcoin community.
“Half a million Notcoin users gifted me $6.8 million worth of Notcoin! Thank you. I will hold these coins until they turn to $680 million, at which point I will use them to buy more servers for Telegram,” Durov said.
Read more: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
Before the donation, Durov issued a statement supporting Notcoin. In it, he illustrated how Notcoin quickly transformed from an in-game currency to real money for its users.
“This amazing success story shows how powerful the Telegram or TON ecosystems are for app developers. Telegram offers app developers more freedom than any other platform, providing unmatched opportunities to leverage social interactions for viral distribution. TON, in turn, provides scale and flexibility for any blockchain project on top of it,” he wrote.
In a separate announcement, Notcoin acknowledged the critical role played by Durov and the Telegram team in creating a platform that set a high standard for developers. This recognition highlights the integral relationship between Telegram and the growing blockchain ecosystem.
Notcoin recently distributed over 80 billion NOT tokens to game participants and conducted its token generation event (TGE). Several major crypto exchanges have also listed the token.
Based on the TON Blockchain, Notcoin gained initial popularity from its viral tap-to-earn game on Telegram. This game has attracted 35 million participants so far. Furthermore, it has effectively introduced users to Web3 technologies and driven significant engagement.
Read more: Which Are the Best Altcoins To Invest in May 2024?
At the time of writing, NOT is trading at $0.0068, representing an 8.2% decrease from its all-time high of $0.0074. According to CoinGecko data, Notcoin currently has a fully diluted valuation (FDV) of $705.19 million and a trading volume of $434.19 million over the last 24 hours. Although the project team claims to have recorded around $700 million in market capitalization, data aggregators like CoinGecko and CoinMarketCap have yet to reflect Notcoin’s market capitalization, given that the token is relatively new to the market.
The post Telegram’s Pavel Durov Commits to Holding $6.8 Million in Notcoin Until 100x Gain appeared first on BeInCrypto.
