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Telegram’s Pavel Durov Commits to Holding $6.8 Million in Notcoin Until 100x Gain

2 mins
Updated by Lynn Wang
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In Brief

  • Telegram founder Pavel Durov holds Notcoin, pledging to keep it until the token’s value increases 100 times.
  • The Notcoin project recently donated over 1 billion tokens to Durov and his team, worth roughly $6.8 million.
  • Notcoin, part of the TON Blockchain, quickly gained popularity through a viral tap-to-earn game on Telegram.
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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?

NOT Price Performance.
NOT Price Performance. Source: BeInCrypto

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.

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Lynn Wang
Lynn Wang is a seasoned journalist and content creator with over eight years of experience in digital marketing and cryptocurrency journalism. Her expertise lies in SEO strategy, blockchain technology, and Web3, where she has consistently delivered impactful content initiatives and engaged audiences effectively. Since January 2022, Lynn has been at the forefront of content and community efforts for BeInCrypto Indonesia. Under her leadership, the platform has witnessed remarkable growth,...
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