Billionaire Pavel Durov, the founder of Telegram, has received a generous donation of over $7 million in Notcoin from more than 552,000 players of the viral Telegram-based clicker game. These players donated a portion of their in-game coins to Durov as a token of appreciation for the messaging app that hosts the crypto game. Durov has pledged to hold onto these tokens until they experience a 100x increase in value.
This donation accounts for slightly over 1% of the total Notcoin supply on The Open Network (TON). The value of these tokens currently stands at approximately $7.3 million, with Durov stating that he has no plans to sell them at the moment. However, if the value of the NOT token reaches $680 million, he will sell them to acquire additional servers for Telegram.
Notcoin, which launched as this year’s largest gaming token, debuted with a market capitalization of nearly $1.5 billion. Since its launch, the value of NOT has experienced volatility, currently sitting slightly above $0.007. Despite this, it ranks as the 101st most valuable cryptocurrency by market capitalization, amounting to $746 million. The token also saw impressive trading volume of over $1 billion within the first 24 hours of its launch.
Notcoin is set to relaunch its crypto-earning game after temporarily pausing its coin-tapping gameplay in April. The ultimate goal for Notcoin is to become a platform for additional games, aspiring to be the “Netflix of social, viral games.”
In November, TON Space, a self-custodial wallet, will be available to Telegram’s global user base without requiring any wallet registration. This serves as an extension of the existing custodial version of the Telegram wallet. However, certain jurisdictions, such as the United States, are currently excluded from accessing the self-custodial wallet due to regulatory scrutiny.
The launch of the new wallet coincides with the introduction of a new feature on the Telegram TON Blockchain that allows users to transfer Tether (USDT). Additionally, The Open Network (TON) blockchain has completed its transition into a Swiss non-profit organization.