Notcoin Holders Donate Over 1 Billion NOT to Pavel Durov

The team behind the gaming Web3 project Notcoin announced that users sent 1,030,383,291,362 NOT ($6.8 million at the time of the transaction) to Telegram founder Pavel Durov. This feature was available within the in-game interface until the end of the mining phase. 

1,030,383,291.36 Notcoin ($6.8M USD) were sent as donation to Pavel Durov and Telegram.

Thanks for everything you guys built.https://t.co/ZaBgB22yyg pic.twitter.com/8gmNjbBs3s

— Notcoin Ø (@thenotcoin) May 17, 2024

Notcoin explained the donation as a gesture of gratitude towards the messenger’s developers for their work and the opportunities provided for growth.

“There is nothing shameful in standing on the shoulders of giants. 552,586 Notcoiners sent 1,030,383,291,362 NOT to Pavel’s account. 203,303 people donated all their hard-earned Notcoins (sic!),” they wrote in a tweet from February.

Earlier, the messenger’s founder commented on the start of trading for the NOT token. He noted that on the day of listing, the coin entered the top 10 cryptocurrencies by trading volume, with a market capitalization reaching $700 million.

“This amazing success story shows how effective the Telegram and TON ecosystems are for app developers. They provide more freedom for social interactions and viral spread,” Durov wrote.

The entrepreneur noted “how powerful the claws” of the Notcoin project are, which has become a pioneer for many mini-applications based on the TON blockchain.

At the time of writing, NOT is trading at $0.006825, according to CoinGecko.

On May 16, after the start of Notcoin trading on cryptocurrency exchanges Binance, Bybit, OKX, and others, the token’s price dropped by nearly 65%.

Approximately a month after listing, the project plans a large-scale burning of NOT.