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Mini games developed on Telegram are drawing millions of users into the cryptocurrency world at low costs. Notcoin’s founder, Sasha Plotvinov, stated that this model offers significant opportunities, especially for small entrepreneurs. One of this year’s most notable stories is the rise of blockchain-based games, which appeal to a large audience thanks to Telegram’s extensive user base. Indeed, the tap-to-earn games that have gained popularity on this platform have quickly attracted substantial interest.
Cost-Effective User Acquisition on Telegram
According to Plotvinov, the cost of acquiring new users through mini games on Telegram is quite low. Traditional cryptocurrency companies incur a user acquisition cost of around $10-15, whereas this cost drops below $1 with Telegram games. This presents an attractive opportunity for both large and small companies. Plotvinov emphasized the magnitude of this opportunity by stating, “I see two types of teams on Telegram: First, young people with no resources building things from scratch, reaching millions of users in a month.”
For those unfamiliar, Telegram-based games utilize The Open Network (TON) Blockchain. Although TON operates independently from Telegram, it maintains a strong relationship with the app. In fact, Telegram’s founder, Pavel Durov, openly supports this Blockchain. Since the launch of Telegram’s cryptocurrency wallet, TON Space, in September 2023, the TON ecosystem has rapidly expanded, activating 23 million new wallets during this period.
Major Players like Binance Turn to Telegram
Plotvinov identified established companies as the second group developing games on Telegram. He noted that these companies are attracted by the low user acquisition costs, saying, “Even Binance created a mini game on Telegram. This is quite interesting.” As a reminder, Binance launched a Telegram game called “Moonbix” at the end of last month.
Games on Telegram generally attract users by offering cryptocurrency rewards. Titles like Hamster Kombat have gained numerous new users through this model. However, some of these games fail to maintain the value of their cryptocurrency, while Notcoin’s NOT coin reached a market value of $2 billion. Plotvinov argued that players should play games for enjoyment rather than profit, adding that the tap-to-earn model is not sustainable. Consequently, Notcoin strives to diversify by developing different games.
In August, Notcoin launched a new game titled “Lost Dogs.” Additionally, it recently introduced the “Not Pixel” game, which reached 17 million users within just a few weeks.
