What is Notcoin?
Notcoin is a meme coin that exists as an idea for now. While it may be minted on the TON blockchain in the future, it is currently more of an internet marketing scheme than a real cryptocurrency. The Notcoin button-clicker app on Telegram is often referred to as a “mining game,” but it’s technically not mining since Notcoin isn’t being mined at the moment.
The Confusing Messaging
The TON Foundation’s statements about Notcoin add to the confusion. They mention that Notcoin will launch as a TON-based digital asset, but they also clarify that it doesn’t function as a cryptocurrency and has no market value. The mixed messaging leaves you wondering if Notcoin will become a real cryptocurrency or not.
Plans for the Future
While Notcoin isn’t currently a real cryptocurrency, there are plans for token minting and distribution in the future. According to a representative from the project, they have plans for a future token mint and distribution. However, it’s important to note that the nine-page whitepaper for Notcoin is completely blank, raising further questions about its legitimacy.
The Players and Behind-the-Scenes
The TON Foundation states that Open Builders is behind Notcoin. Open Builders is connected to Tonstarter, which raised $1.5 million in seed funding last year for Ton-based projects. The team behind Open Builders consists of ten members led by founder Sasha Plotvinov. It’s worth mentioning that this Notcoin should not be confused with a previous Notcoin project from 2019.
Operating Through Telegram
The TON blockchain was initially built by Telegram before they abandoned the project in 2020. It’s no surprise that the Notcoin click-to-collect experience is operated through Telegram, a social messaging platform popular in the crypto industry. However, it’s important to exercise caution as there have been scams associated with Telegram in the past.
Questionable Numbers
The TON Foundation claims that over four million players have already participated in the Notcoin clicking interface, but it’s challenging to verify if these are genuine players or bots trying to take advantage of potential token airdrops.
Hot Take: Notcoin’s Uncertain Future
Notcoin’s future remains uncertain. While there are plans for minting and distribution, the conflicting messaging from the TON Foundation and the lack of a concrete whitepaper raise doubts about its legitimacy. It’s important to approach Notcoin with caution and be aware of potential risks associated with participating in its click-to-collect game.
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