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As Notcoin readies for its imminent launch on The Open Network, the gaming community buzzes with anticipation. Set to go live in just over a week, the token's conversion rate from in-game currency to blockchain-based tokens has been revealed, simplifying the exchange process and setting the stage for a revolutionary shift in player engagement.
Notcoin Sets Conversion Rate for In-Game Currency, Simplifies Token Exchange Before Launch
Notcoin's planned token launch on The Open Network (TON) is just over a week away, and the developers of the viral Telegram-based game have revealed some key details about how players' earned in-game coins will be converted to on-chain tokens.
According to Decrypt, players accumulated trillions upon trillions of in-game coins by tapping their phone screens, but the massive total was bound to make trading crypto tokens difficult. The Notcoin team previously stated that it intended to remove some zeros during the conversion process to make things more manageable once minted, and we now know how that will work.
Notcoin intends to shift the decimal point to the left by three numbers. So, if you mine 1,000 in-game coins, you will receive a single Notcoin. Mined ten million coins? If so, you will receive 10,000 on-chain tokens. And if you mined 532,487 coins, you will receive 532.487 NOT.
In other words, 1,000 in-game coins yield a single NOT crypto token. That is true for everyone, so players do not receive "fewer" coins due to this process; instead, the conversion rate has been chosen to bring players' earnings on-chain.
Notcoin Readies for Launch with Over 100 Billion Tokens, Enhanced Security, and New Gameplay Incentives
The team estimates that there will be 102,719,221,714 NOT minted in total. Of that, about 80.2 billion NOT will go to players/miners, while 22.5 billion NOT—which was at least in part donated by players to an ecosystem fund—will be used to pay out token rewards in the game after the mint, as well as to fund future development and other initiatives.
Notcoin also stated that it removes suspicious accounts that it believes are automated bots using scripts to manipulate the game.
Furthermore, developer Open Builders detailed the future gameplay model, in which external projects can purchase NOT tokens on the open market and deposit them into the game, rewarding players with crypto rewards for interacting with their content. Decrypt's GG first revealed the planned shift last week.
It's an evolution of the game's previous features, with players earning in-game coins for following Telegram channels and Twitter accounts or visiting project websites.
However, in the future, these companies will pay for the right to be exposed to Notcoin's 35 million players, with a portion of that payment going into the NOT treasury and another being burned forever, gradually reducing the overall Notcoin supply.
Notcoin also plans new monthly "experiences" to mix up the gameplay, keep players returning, and deploy new meme tokens.
The Notcoin token launch is scheduled for or around April 20—the same date as the Bitcoin halving.
Pre-market Notcoin vouchers have roughly doubled in price in the last few weeks, with an NFT voucher for 10 million in-game coins (or 10,000 TON tokens) rising from about $50 worth of Toncoin (TON) to around $90 to $100 worth on April 11.
Photo: Notcoin/Twitter
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