Notcoin donates $6.8m NOT to Telegram’s Pavel Durov

Following a recent airdrop, Notcoin users expressed their gratitude to Telegram founder Pavel Durov.

More than half a million users of the play-to-win blockchain game donated 1.03 billion Notcoins (NOT), worth $6.8 million at current prices, to Durov’s personal wallet address. The message sent to Telegram’s founder and his team included the following statement: “Thank you for everything you do.”

In response, Durov promised to hold the tokens up to a price level of $680 million and purchase more Telegram servers to support operations.

Private messaging platform Telegram has supported blockchain development and endorsed initiatives such as The Open Network (TON). This type of support has allowed web3 developers to position their products to be available to Telegram’s 900 million users worldwide and on-chain participants in general.

Notcoin launch and airdrop

Notcoin leveraged this utility to launch its web3 mini app via TON in January, offering users the chance to mine coins and earn rewards through challenges. Durov praised the project, saying, “We are now seeing a huge wave of new mini-applications being created on Telegram and TON.”

After months of mining and several launch delays, Notcoin launched its non-native cryptocurrency via an airdrop, distributing over 80 billion tokens to its early supporters. According to Crypto.news, the price of the NOTE fell sharply by approximately 55% due to initial sales by buyers.

Trading support on major exchanges such as Binance, OKX, and KuCoin has since buoyed price action, with CoinMarketCap seeing a recovery of up to 5%. In addition, the market value of NOT increased to over 713 million dollars.

NOT price chart | Source: CoinMarketCap