Telegram’s Notcoin, the pioneer of the tap-to-earn game, recently burned $3 million worth of NOT tokens to enhance scarcity and increase value.

This strategic move is part of a larger effort to reward active users and sustain a strong economic environment within the Notcoin community.

The Notcoin team plans to significantly reduce the number of circulating tokens by burning unclaimed ones. This action aims to boost the scarcity and potential value of the remaining tokens.

In addition to the token burn, Notcoin has announced a series of rewarding initiatives. An impressive $5 million worth of Notcoin will be distributed as bonuses to the most loyal community members, particularly those active in Notcoin Explore at Gold and Platinum levels.

Read more: What is Notcoin (NOT)? A Guide to the Telegram-Based GameFi Token

The remaining unclaimed tokens will be added to the Notcoin treasury to support future development projects. This strategic allocation highlights Notcoin’s dedication to enhancing its ecosystem and securing the long-term viability of its platform. After these initiatives, the overall tokenomics of Notcoin will reflect 95% of tokens in community hands and 5% in the Notcoin treasury.

At the time of writing, Notcoin boasts a market capitalization of $1.65 billion. Despite the significant amount, this figure has decreased by approximately 40.6% compared to June 3. Its price performance also shares a similar sentiment, down 43.4% from its all-time high of $0.02836. NOT is currently trading at $0.01609.

Notcoin has significantly impacted the crypto industry since its launch as a Telegram mini-app in January. Developed by Open Builders and led by CEO Sasha Plotvinov, Notcoin quickly became a sensation in the gaming community, attracting over 35 million players and 6.5 million daily active users. This remarkable growth can be attributed to its tap-to-earn model, which has seen users tap over 8.8 trillion times collectively.

In an exclusive interview, the founders shared insights into the project’s journey and vision for the future. Andrew Rogozov from The Open Platform and Sasha Plotvinov discussed the challenges and strategies that have shaped Notcoin’s rapid growth and their plans to continue expanding the platform.

Plotvinov explained that building something viral on Telegram may seem easy, but ensuring its sustainability, fairness, and transparency is the real challenge. In the long run, he suggested that only sustainable projects that fulfill their promises will prosper.

“My advice is to focus not just on the viral aspect but also on the purpose behind your efforts and the long-term vision. Your plans should prioritize sustainability. Test your ideas thoroughly and address any doubts or uncertainties early on. Avoid creating potential future problems for yourself by being proactive and adaptable from the start,” Plotvinov said.

Looking ahead, Notcoin aims to expand its services and enhance its integration with the TON blockchain. It plans to engage its community further through additional games and interactive experiences.

Read more: Tap-to-Earn: What to Know About the Crypto GameFi Trend

This focus on innovation, community involvement, and user engagement sets Notcoin apart in the crypto market, positioning it for continued growth. Supported by an active community and a strong ecosystem, Notcoin is poised for a promising future with new opportunities for users.

The post Telegram Game Notcoin Burns $3 Million in NOT Tokens, Aiming to Increase Scarcity and Value appeared first on BeInCrypto.

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