What Is Notcoin and Is It a Scam? Reviews, Opinions and DYOR
Notcoin is a new entrant in the world of meme coins. Imagine a meme coin created as a mini-app within Telegram, where you can "mine" Notcoin just by tapping on an icon. Sounds simple, right? Well, since its inception on New Year's Day 2024, this free Telegram clicker game has become a huge success.
Notcoin is a TON-based meme coin that started its way as a free Telegram Mini App game in mid-November 2023. I was initially presented as a simple clicker game with no substantial expectations or detailed information, it was described by the project’s team as "probably nothing".
Source & Copyright: Ton Blog
However, Notcoin caught users' interest, reaching nearly 500K players during its beta phase and over 650K who collectively mined more than 60 billion Notcoin. Shortly after its official launch on January 1, 2024, the game's popularity skyrocketed and 6.3 million players in just 10 days.
What's interesting about Notcoin's rise is that it didn't spend a dime on advertising. It's all been through word-of-mouth within the Telegram community.
Despite its success, Notcoin is not an actual cryptocurrency and hasn't been minted on the TON blockchain, making it more of an internet marketing phenomenon. Referring to its in-game activity as "mining" is technically incorrect, as no real cryptocurrency mining is taking place. An automated Telegram message highlights this uncertainty, stating, "No one knows if or when Notcoin will be minted, or if it will hold any value".
The game lacks standard cryptocurrency components like a website, roadmap, or a whitepaper (the one from November 2023 is just nine blank pages). As of now, over 1.2 trillion Notcoin have been collected, but since the coin doesn't exist in a tradable form, there's no real-world value or cash-out option. But, players can make real money donations for boosts, hoping to score more Notcoin per tap.
Additionally, Telegram users can now start playing Notcoin directly from the application's wallet section. The game has been made accessible under the 'Learn More' tab. Previously, users were required to find and launch a gaming bot to start playing.
To start mining Notcoin with just one click, follow this link.
Notcoin Reviews and Opinions: Reddit and X
The Reddit community, typically vocal with their opinions, has been unusually quiet about this project, likely due to its novelty. Only one comment was found, expressing skepticism about the coin's utility and prospects:
"I'm not sure, but this coin seems pointless and I don't see a future for it. If anyone has information about its potential, please enlighten me."
On the other hand, the Twitter community appears enthusiastic about the new game, particularly appreciating its simplicity. Users are actively sharing their experiences, offering insights, and providing tips for quicker earnings. They are proudly posting their achievements and even forming teams to enhance their gameplay experience.
Our X's subscribers voted about whether the Notcoin project is a scam or not this way:
Community, Website, and Social Media Accounts
As mentioned before at this point, Notcoin doesn’t have any website or social media accounts, except X.
Their X account has 165K followers, which shows high engagement, which is backed by the active comments section and frequent reposts.
Founders and Investors of Notcoin
There is limited information accessible on the internet regarding the creators of Notcoin. According to a statement from the TON Foundation, Open Builders is responsible for this potential meme coin. Open Builders is an organization committed to financing projects on the TON blockchain. It is associated with Tonstarter, a platform that successfully raised $1.5 million in seed funding the previous year, specifically to support projects based on the TON blockchain.
The recent integration of Notcoin access via Telegram's wallet feature underscores Telegram’s linkage with this bot-based game. Given the increasing prevalence of fraudulent activities on Telegram and the community's concern over the project's legitimacy, this integration increases credibility to the team.
Notcoin is already listed on famous platforms such as CoinMarketCap and CoinGecko, among others. Discussions are underway about the potential listing of Notcoin on major exchanges, including BingX, OKX, Binance, and ByBit. Some exchanges have already dedicated individual pages to Notcoin.
Tokenomics: Supply, Allocation, Use Case
Currently, Notcoin's primary function is as a meme coin within a gaming context, without any additional utility. The team behind Notcoin hasn’t yet provided any information regarding the distribution of the token.
Beyond mining Notcoin, players have opportunities to increase their holdings through the 'Earn' feature. This function offers additional rewards for completing easy tasks. These include inviting friends to the game using a referral link, joining a squad, or achieving certain milestones like entering the Silver League or activating Telegram Premium.
Source & Copyright: Ton Blog
The project has just started its way into the crypto sector, which makes it premature to make definitive conclusions about Notcoin's legitimacy. However, we can consider various aspects for a preliminary analysis.
As a meme coin, Notcoin typically lacks significant utility - a common trait for such tokens. It also misses key elements that give credibility to cryptocurrency projects, like an official website, a detailed whitepaper, a clear roadmap, and a transparent team.
However TON and Telegram teams seem pretty keen on promoting Notcoin. It looks like they're using it as a way to boost the user base for the Telegram wallet and to familiarize Telegram users with the TON infrastructure. They're also seemingly pushing for more Telegram Premium users through the game's bonus mechanics.
Considering these factors, we believe engaging with this coin is acceptable only as long as it remains a fun gaming experience without substantial financial investment. At this stage, our team regards Notcoin as a risky investment.