Notcoin donates $7 million in tokens to Telegram and its founder Pavel Durov Notcoin donates $7 million in tokens to Telegram and its founder Pavel Durov
Notcoin's NOT token was airdropped to the community on May 16.
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Updated: May. 17, 2024 at 9:12 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Notcoin, a play-to-earn game, has donated over 1 billion NOT tokens, worth approximately $7 million, to Telegram and its founder, Pavel Durov.
In a May 17 social media post, the Telegram-based project shared a screenshot showing its donation and a message expressing its gratitude to the messaging application and its founder.
“Thanks for everything you guys built, from 552568 Notcoin contributors,” the transaction description reads.
This donation follows a previous one initiated by token holders in February. At the time, Notcoin wrote:
“There is no shame in standing on the shoulders of giants. Pavel Durov and the Telegram team made Telegram app, set the bar for builders and created a lot of opportunities for everyone, including Notcoin. 552,586 Notcoiners were grateful and sent their 1,030,383,291,362 Notcoin to Pavel’s account.”
Notcoin was launched as a Telegram Mini App in January and quickly gained popularity, amassing over 35 million players.
The game allowed users to mine its in-game currency by tapping a Notcoin icon on their phones. This virtual asset was later converted into the NOT token that was airdropped to all users on May 16.
Airdrop drama
Meanwhile, the NOT token airdrop was met with certain challenges, as several Bybit users reported difficulties in receiving their airdrops before the market opened.
In response, Bybit CEO Ben Zhou explained that the firm received 370,000 on-chain transactions from Notcoin, which would “take quite a long time to be able to catch up all balances and reflect.” He added:
“We have managed to credit 70% of you before NOTcoin market opens, we should’ve done it better. Sorry to let you all down. We will make sure to never let it happen again.”
Since its launch, NOT’s value has dropped significantly, falling over 8% in the past 24 hours to $0.0068 as of press time.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Pavel Durov is the CEO and founder of Telegram, a messaging platform focused on privacy and security.
