Notcoin Launches "Explore" Initiative
Notcoin introduced Explore, a space where users can earn coins for helping develop new web3 projects.
Notcoin developers have unveiled the beta version of a new initiative called "Explore". The initiative supports the explore-to-learn model. In other words, users can earn coins and other project bonuses for completing various tasks from projects.
How it works? Any project can contribute NOT to the Explore pool and create a campaign with various tasks for users. For their fulfillment, users receive NOT. The process is fully automated. In other words, projects will immediately have access to Explore. Thus, Notcoin team plans to attract more people to new and interesting web3-projects and help them with promotion.
A user's level in the Notcoin game will also affect their participation in the initiative. For example, the higher a user's level, the more opportunities they have, from airdrops and getting on the whitelist to exclusive offers from the projects they participate in. Some projects offer missions in the form of a subscription to their social media accounts.
There are plans to allow new Notcoin users to buy any level. And levels such as Gold and Platinum will get access to launch the top tokens. Users with the highest level can get the most coins as rewards. In addition, for inviting friends, users will receive a percentage of the rewards they earn in Explore.
Notcoin also shared some nice statistics. The Explore initiative ran 20 campaigns and allowed its users to earn $1.5 million in a short period of time. Moreover, Notcoin's active player base reached 40 million users.
The launch of the Explore beta caused a brief rise in NOT last week. However, the latest announcement with stats and achievements did not help the coin to cope with the bearish momentum. Over the past 24 hours, NOT has fallen 12% to $0.016. The weekly drop amounted to 32%. Earlier this month, the NOT token hit an all-time high of $0.0283, which helped its market capitalization surpass the $2.75 billion mark.
Along with the fall in price, the volume of trading of the coin in 24 hours also dropped significantly: it fell by 14% to reach the mark of 700 million dollars. Santiment's data also shows a decrease in open interest for NOT, which fell from 67.6 million to 63.4 million dollars in the last 24 hours. Nevertheless, long position holders still have an advantage over short position holders. Although the coin's RSI index is in the overbought zone, it has fallen sharply over the past week, suggesting that the hype around NOT has diminished. On the short-term timeframe, the RSI index is well below the neutral line and is moving into the bearish zone.
