- Sasha Plotinov, the founder of Notcoin, contends that businesses of all sizes are creating games on Telegram due to the very low cost of gaining new clients.
- According to Plotvinov, the cost of onboarding users for successful Telegram games might be less than $1.
One of the most interesting developments in cryptocurrency this year has been the rise in interest in blockchain gaming, which has been mostly driven by the success of Telegram mini-games like Notcoin, Hamster Kombat, and Yescoin. These tap-to-earn games seem to have drawn millions of new users to web3.
Crypto gaming has probably attracted more attention than it has since Axie Infinity’s rise and fall.
A number of businesses have chosen to create and release basic video games on Telegram in an attempt to reach the messaging app’s roughly 1 billion users, since millions of individuals have signed up to play the cryptocurrency games. In addition to experienced web3 game developers and total novices, Binance, the biggest cryptocurrency exchange globally in terms of trade volume, has joined the contest.
Notcoin is recognized for having invented the concept of Telegram clicker games. Sasha Plotvinov, the project’s founder, said in a recent interview that the possibility of low-cost user acquisition is a major factor in why businesses of all sizes have attempted to imitate Notcoin.
The level playing field of Telegram
According to Plotvinov, a business, such as an exchange, may have to pay $10 to $15 for each new customer when it comes to cryptocurrency. However, something can be accomplished for much less than $1 with a Telegram mini-game. In addition to being appealing to businesses, that offer has somewhat leveled the playing field.
There are two kinds of teams in the Telegram community, based on my observations at the moment. The first one essentially consists of a group of impoverished individuals who chose to construct something out of nothing and eventually amassed millions of users. This is a great accomplishment. And you can actually have this in just one month of construction. That kind of timing is unheard of in the gaming industry.
The Open Network, or TON network, is the main blockchain used by games that are built on Telegram. Although it functions independently of Telegram, the blockchain has long been closely linked to the chat service. Pavel Durov, the founder and CEO of Telegram, has openly endorsed the blockchain and Telegram-based gaming.
According to TonStat, the ecosystem has expanded rapidly since Telegram’s native cryptocurrency wallet, TON Space, was introduced in September 2023. In the last year, around 23 million additional wallets have been activated. TON was comparable to Ethereum at one time earlier this month, with over 11 million monthly active addresses. Since then, there are only roughly 9.7 million monthly active addresses left.
Binance enters the battle
In essence, the second group consists of well-established businesses who are rather envious of the figures and acquisition costs.It’s strange that Binance even created a mini-game for Telegram.
Binance released Moonbix, a game based on Telegram, at the end of last month.
These games, especially Hamster Kombat, have attracted new users with the promise of token prizes, while developers have searched for the opportunity to swiftly and affordably build a Telegram mini-game. Hamster Kombat’s HMSTR token has not performed as well since its token production event, in contrast to Notcoin’s NOT token, which has seen its market cap approach $2 billion and continues to produce substantial trade volumes since the initial airdrop.
According to Plotvinov, the tap-to-earn gaming model is unsustainable since players are driven to play the game more for financial gain than enjoyment. In light of this, Notcoin has been making an effort to broaden its offerings, which included the August release of Lost Dogs, a brand-new Telegram game. Additionally, Notcoin just released a game called Not Pixel, which, according to Plotvinov, attracted roughly 17 million new users in a matter of weeks.
“Innovation lab”
Umnov claims that although many web3 gaming initiatives have had trouble gaining users, which has made testing and development more challenging, Telegram games’ capacity to swiftly establish a community can provide builders with more information and player feedback, so simplifying the lives of creators.
Earlier this year, Helika created a $50 million Telegram gaming accelerator with the help of Notcoin. A representative for Helika, a web3 gaming analytics firm supported by Pantera Capital said that the accelerator had received over 250 applications. Although Notcoin supports the accelerator, Helika is providing all of the financing for it.
The reason why people are creating on Telegram is undeniably appealing. A sizable portion of the audience is open to trying and playing these games. Telegram is viewed by many of those developers as somewhat of an innovation lab.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
