Notcoin's Remarkable Growth on Telegram Reveals Potential for Cryptocurrency Adoption
Summary:
Notcoin, an idle game on Telegram where users earn NOT tokens, has attracted over 30 million users in less than two months, demonstrating the potential for cryptocurrency adoption on Telegram. The success has been attributed to the use of viral growth strategies and straightforward monetization techniques like advertisements. Experts predict that Web3 gamers could reach 500 million by 2028. The TON ecosystem, owing its user base to Telegram, is seen as a promising platform for game developers, with games like Notcoin benefiting from the social aspects of the platform.
The enormous user community of Telegram is becoming a fertile ground for the acceptance of digital currencies, as "Notcoin", a viral game, sees a rapid surge in popularity. In less than two months, Notcoin has gained over 30 million Telegram users and established cryptocurrency wallets based on the TON platform. In this "idle game," players earn NOT tokens by simply tapping their screens, recruiting 1% of Telegram users to Web3. The inclusion of NOT tokens on leading digital currency exchanges has resulted in financial gain for many casual players. Inal Kardan, TON Foundation's gaming lead, shared his thoughts on the unique potential of blockchain gaming for drawing newcomers to the world of cryptocurrency in an exclusive interview with Cointelegraph. There is a prediction for the number of Web3 gamers to reach 500 million by 2028.
"By gaining 35 million users in five months, Notcoin displayed the capabilities of games on Telegram and how easily users can be recruited," mentioned Kardan at the Next Block Expo in Warsaw. He emphasized that a number of games based on Telegram are following similar models and rapidly amassing considerable user count and profits, capitalizing on marketing aspects like sharing and mining present within Telegram. During the NBX event, Kardan presented insights into Notcoin's growth on Telegram.
Kardan portrayed Telegram as an accessible and underutilized distribution platform utilizing established Web2 technologies combined with web page extensions and blockchain functions. He also marked a transition from the "play-to-earn" models visible in popular Web3 games like Axie Infinity with games like Notcoin adopting novel strategies that include usual monetization approaches such as advertisements.
Animoca Brands co-founder, Yat Siu, noted the use of viral growth strategies formerly possible on Facebook or the App Store has greatly contributed to the success of Web3 games on Telegram and TON. Siu believed that restricting virality is beneficial for advertising as a business which is why Web2 players have eliminated these mechanics. He admitted that idle clicker games have always had a strong popularity but games like Notcoin's way of engaging users sets them apart. He concluded by saying that Notcoin's approach offers an improved value for end-users and aligns growth incentives better than the aggressive nature witnessed in web2 advertising business models. Data verifies these statements as seen through the Web3 gaming company, Gamee, which has witnessed a surge in average daily active users to about one million through the use of staking and idle game mechanics on TON and Telegram.
Many Telegram users are already familiar with cryptocurrency, creating a shared environment for both Web2 and Web3 gamers, Siu further pointed out. Michał Dąbrowski, founder of blockchain game infrastructure provider Elympics, agrees that Web3 games are ready to attract new digital currency users. Dąbrowski revealed that game developers have previously found difficulty with monetization strategies, but blockchain-based infrastructure has provided a solution for that. The TON ecosystem shows remarkable potential, tied to Telegram's huge user community, making it attractive to game developers. He cited Notcoin as an ideal example, capitalizing on the social nature of Telegram. Dąbrowski further deemed that Web3 functions are revitalizing the idle gaming genre, with in-game earnings now having actual monetary value, thus providing players a stake and recompense for their gaming time.
Published At
5/21/2024 12:55:27 PM
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