Notcoin, one of the big sensations of this year on the crypto market, and you could say the whole internet, announced the burning of a colossal number of NOT, the native token of the popular tap-to-earn game.
According to a recent update on its social media platform, the company has burned NOT tokens worth $3 million, drastically reducing the token's supply. The announcement also mentions an incentive plan worth $4.2 million, aimed at rewarding its Gold and Platinum users on the Notcoin Explore platform.
Arman ShirinyanCurrently, the circulating supply of NOT tokens stands at 102.49 billion, with a market value of $0.01432 per token. This positions Notcoin’s market capitalization at approximately $1.47 billion, securing its rank as the 59th largest cryptocurrency, according to CoinMarketCap.
The token burn is part of Notcoin's broader strategy to enhance the tokenomics and increase value for its users. By reducing the total supply, the popular tap-to-earn project aims to create scarcity, potentially boosting the token's value and appeal.
This move aligns with ongoing efforts to ensure that the primary beneficiaries of Notcoin are its community members.
What is Notcoin (NOT)?
Notcoin is a Web3 tap-to-earn game launched on Jan. 1, within the TON ecosystem. Technically, Notcoin is a mini app inside the Telegram messenger. The project caught the attention of users thanks to the announced NOT coin giveaway.
Gamza KhanzadaevThe developers offered application users the chance to mine tokens by simply tapping on their smartphone screen. The game's audience exceeded 35 million people within a couple of months.
Alex Dovbnya
Vladislav Sopov
Dan Burgin
U.Today Editorial Team