Notcoin to distribute $1 Million to pre-market traders
The game Notcoin, running on Telegram, has recently led the charge with this year's largest launch in the gaming token sphere. Since its introduction, the NOT token, rooted in The Open Network, has seen its value soar, tripling recently as it gathers momentum. The early adopters who speculated on the future success of Notcoin have now been rewarded by the team.
Prior to the official launch of the NOT token in March, when Notcoin was still experimenting with in-game currency, the developers at Open Builders introduced an innovative concept: "pre-market vouchers." This allowed players who had amassed at least 10 million in-game coins the opportunity to exchange them for a tradable NFT, which could later be converted to the on-chain token.
With Notcoin generating buzz, partly due to its popularity as a Telegram clicker game engaging tens of millions of players, traders were banking on a high return from these tokens. The initial release of these vouchers—accessible initially to a select group of Notcoin players—due to their scarcity, drove prices up, only for them to plummet significantly afterwards.
For instance, early vouchers equivalent to 10 million in-game coins—and later exchangeable for 10,000 NOT tokens—were initially bought for about $230 in Toncoin (TON) on the market. However, their value soon dropped below $100 in TON.
This transactions took place on a peer-to-peer platform, aiming to allow speculation on Notcoin's future pricing. Interestingly, the initial high price of these vouchers roughly matches the current price of the tokens—10,000 NOT now stands at about $240 as of this writing.
Regarding this price disparity and recognizing that early investors might have paid a premium for these vouchers amidst a scarcity before the offering was available to all players, the Notcoin developers took a snapshot in March of early holders, promising a "meaningful bonus" to those accounts in the future.
On Tuesday, the Open Builders team fulfilled this commitment, announcing they would distribute a total of 40 million NOT—valued at approximately $1 million—to the owners of the first 5,867 purchased or held Notcoin vouchers before the pre-market was available to all.
Eligible participants will get 6,900 NOT, approximately $170 per voucher. This bonus is especially valuable for those who either kept their vouchers or redeemed them and retained the NOT tokens, especially given the recent surge in price. These tokens are destined for the eligible wallets today, as the announcement specified.
Notably, Notcoin's price has skyrocketed in the last few weeks, marking a 167% increase over the past seven days with its price now over $0.024. This surge has elevated NOT to a market cap of $2.5 billion, ranking it as the 54th most valuable crypto asset, according to CoinGecko. It reached a peak above $0.028 on Sunday, setting a new record high.
