Bittime – Pavel Durov , founder of Telegram, recently received a large donation from more than half a million players of the popular Telegram-based clicker game, Notcoin .
This Donation Will Be Kept and Sold When It Increases 100x: For Telegram Development
These players generously donated some of their in-game coins to Durov, as an expression of gratitude for the messaging app hosting this crypto game.
The value of these donated tokens has now soared to millions of dollars. Durov announced his intention to hold on to the tokens until their value increases 100 times.
Donation as a Thank You Note from the Community
In February, more than 552,000 Notcoin players donated their in-game coins, resulting in Durov earning more than 1.03 billion NOT tokens. This amount represents more than 1% of the total Notcoin supply on The Open Network (TON) .
Pavel Durov Wealth
At the time of this writing, the value of the token stands at around $7.3 million, up from $6.8 million when Durov first received it. Although Durov himself is a wealthy man with a fortune estimated at $15.5 billion by Forbes, Durov has no immediate plans to sell the tokens.
However, he stated that if the value of NOT tokens reached $680 million, he would sell them to purchase additional servers for Telegram, thus improving the application's infrastructure.
Check Today's Crypto Market:
Notcoin's debut was a huge success despite its price collapse
Notcoin, which launched as the biggest gaming token of the year, debuted with a market capitalization of nearly $1.5 billion. Like many new cryptocurrencies, NOT's value has experienced volatility, dropping 50% to its current price of just over $0.007, according to CoinMarketCap. Despite the decline, NOT remains the 101st most valuable cryptocurrency by market capitalization, which stands at $746 million.
The token reached an incredible trading volume of over $1 billion in the first 24 hours of its launch.
Notcoin's ambition is to become the "Netflix" of social games
After pausing coin-tapping gameplay in April to prepare for the token launch, Notcoin is ready to relaunch its crypto earning game. Co-creator Sasha Plotvinov envisions Notcoin evolving into a platform for additional games, with the goal of becoming “the Netflix of viral social games,” as he stated in an interview with Decrypt's GG in April.
Latest Telegram Update: TON Space, A Crypto Wallet
Starting in November, Telegram users around the world will be able to access TON Space, a standalone wallet that does not require registration. This feature expands the existing version of Telegram wallet, which has already amassed three million registered users.
Not All Regions Get This Ton Space Wallet Update
However, due to increased regulatory scrutiny, certain regions, including the United States, are excluded from the use of these standalone wallets. The launch of this new wallet coincides with the introduction of a new feature from Telegram TON Blockchain that allows users to transfer Tether (USDT). Additionally, the team behind The Open Network (TON) blockchain recently transitioned into a Swiss non-profit organization, strengthening its operational and governance structure.
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Read Also:
Telegram Open Network (TON) Skyrockets 17% As Telegram Reaches 900 Million Users, What's the Impact?
Pantera Capital Put Funds in TON, Simplify Transactions Between Users
Notcoin (NOT) Price Prediction: How much price can it reach?
Notcoin Just Hit $1 Billion Dollar Market Cap & Entered the Top 100 of CMC Coins
DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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