Billionaire Telegram Creator Pavel Durov Retains $7 Million in Notcoin, Commits to Retain Until 100-Fold Increase

Pavel Durov, the creator of Telegram, has received a substantial contribution from over 500,000 participants of the popular Telegram-based clicker game known as Notcoin.

The players contributed a fraction of their in-game currency to Durov as a sign of appreciation for the messaging platform that facilitates the crypto game.

The total amount donated has now appreciated in value to several million dollars, and Durov has indicated his intention to retain the tokens until they achieve a 100x increase.

Over Notcoin 552,000 Players Donate to Durov

In February, over 552,000 Notcoin players donated a portion of their in-game coins to Durov, resulting in him obtaining more than 1.03 billion NOT tokens.

This represents just over 1% of the overall Notcoin supply on The Open Network (TON).

At the time of writing, the value of these tokens is approximately $7.3 million, although it was slightly lower at $6.8 million when Durov made the announcement.

Durov, with an estimated net worth of $15.5 billion according to Forbes, does not urgently require the funds and has no intention of selling the tokens.

Nonetheless, he has mentioned that if the value of the NOT token rises to $680 million, he would sell them to purchase additional servers for Telegram, thereby enhancing the messaging app’s infrastructure.

1,030,383,291.36 Notcoin ($6.8M USD) were sent as donation to Pavel Durov and Telegram.

Thanks for everything you guys built.https://t.co/ZaBgB22yyg pic.twitter.com/8gmNjbBs3s

— Notcoin Ø (@thenotcoin) May 17, 2024

Notcoin, which emerged as this year’s largest gaming token, launched with a market capitalization of nearly $1.5 billion.

As is common with new cryptocurrencies, the value of NOT has seen fluctuations since its inception, dropping by 50% to its current price of just above $0.007, according to CoinMarketCap.

Despite the downturn, NOT currently holds the position of the 101st most valuable cryptocurrency by market capitalization, totaling $746 million.

Notably, it generated a trading volume exceeding $1 billion within the first 24 hours of its launch.

After temporarily halting its coin-tapping gameplay in April to prepare for the token rollout, Notcoin is poised to relaunch its crypto-earning game.

The ultimate aim is for Notcoin to function as a platform for additional games, with aspirations to become the “Netflix of social, viral games,” as articulated by co-creator Sasha Plotvinov in an interview with Decrypt’s GG in April.

TON Space Will be Available Starting November

Beginning in November, TON Space, a self-custodial wallet, will be available to Telegram’s global user base without the need for any wallet registration.

This feature acts as an extension of the existing custodial version of the Telegram wallet, which has already garnered three million registered users.

However, certain regions, including the United States, are currently excluded from the self-custodial wallet due to the country’s heightened regulatory scrutiny and the geofencing of various crypto applications from the market.

The introduction of a new wallet coincides with Telegram TON Blockchain launching a new feature that allows Telegram users to transfer Tether (USDT).

Recently, the team managing The Open Network (TON) blockchain also completed its transition into a Swiss non-profit organization.

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