Telegram Creator Pavel Durov Owns $7 Million in Notcoin, Commits to Retain Until 100-Fold Increase
Pavel Durov, the mastermind behind Telegram, has been gifted a substantial sum by over 500,000 players of Notcoin, a widely played clicker..
Pavel Durov, the mastermind behind Telegram, has been gifted a substantial sum by over 500,000 players of Notcoin, a widely played clicker game available through his messaging platform.
As a gesture of appreciation for facilitating the cryptocurrency game on Telegram, these participants have transferred a portion of their in-game currency to Durov.
The value of this accumulated bounty has surged to millions of dollars, and Durov has expressed his intention to retain these tokens until their value increases by a hundredfold.
Pavel Durov Receives Over $7 Million in Notcoin Donations from Telegram Users
In February, Pavel Durov, the founder of Telegram, received an impressive donation of over 1.03 billion NOT tokens from 552,000 users of Notcoin, a popular game on his messaging platform. This contribution represents just over 1% of all Notcoins currently available on The Open Network (TON). As of now, these tokens are valued at approximately $7.3 million, showing a slight increase from $6.8 million at the time of the announcement.
Durov, whose net worth is estimated by Forbes at $15.5 billion, has decided not to sell these tokens immediately. He plans to hold onto them until their value potentially increases to $680 million, at which point he intends to sell them to fund new servers for Telegram. This investment would significantly enhance the app’s infrastructure.
Notcoin and the cryptocurrency landscape:
- Current Value: Despite a 50% drop in value to about $0.007 each, NOT tokens hold a market value of $746 million, ranking it 101st in market capitalization according to CoinMarketCap.
- Market Dynamics: Originally, NOT saw trading volumes exceeding $1 billion within its first 24 hours.
- Recent Developments: After a brief pause in April, Notcoin is set to relaunch its game that allows players to earn cryptocurrency.
The relaunch is aligned with the introduction of new features on the Telegram platform, including a TON Blockchain feature that supports the transfer of Tether, enhancing the utility of Telegram’s financial services. Additionally, the platform’s expanded wallet services, which now include a custodial version with three million users, reflect Telegram’s deeper move into cryptocurrency despite regulatory challenges in certain areas like the United States.
As the cryptocurrency landscape evolves, Notcoin’s position and the strategic decisions by figures like Durov will significantly influence the broader market and Telegram’s infrastructure developments.
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