W-Coin, the Telegram game has announced that they will be launching their token on The Open Network (TON) in December. The token launch will be followed by an airdrop.
W-Coin also added that its team won't hold any tokens. This much anticipated token launch comes at a time when most games are turning to crypto tokens including recent entries like X Empire and Hamster Kombat. Both these games also had airdrops of their respective tokens after the launch.
W-Coin too is following the trend after waiting out the hype cycle. However, the Telegram game announced through the messaging platform that 70% of W-Coin tokens will be allocated to ‘mates’, the designated players of the game. The 30% that remains will go into supporting the growth of the project and crypto exchange listing. Out of this 30% some will also be used for future initiatives and marketing.
W-Coin said: “Keep tapping, stay engaged, and get ready. Our listing is just around the corner.”
The tap-to-earn game took a “snapshot”—a term for recording on-chain data from a moment in time—that will correlate with players’ token allocations further down the line. However, it won't lead to players stopping the game. Rather, the in-game process will count in the airdrop. Another snapshot is expected to come soon.
As per W-Coin, the snapshot is for “fair airdrop distribution based on true engagement, not just early access or balances”. The Telegram-based game took this step to “reward real activity” and set its token apart from others.
In this one month of time before the airdrop and the token launch W-Coin will complete the mining phase for the digital asset. Once this is sorted, the developers will do the data calculation to prepare for the crypto exchange listing in December.
W-Coin did a poll to confirm through which blockchain the token should be launched. 68% of users, 8.8 million players said they preferred The Open Network (TON), the most used blockchain for Telegram games while Solana and Ethereum got 24% and 8% votes respectively.
As many as 7.7 million users have linked their crypto wallets after the W-Coin snapshot which is quite negligible compared to the 37 million players on the platform.
This is in line with how Hamster Kombat launched its token and did an airdrop for it in September. However, most token holders were left fuming as the prices declined 50% in the following week, ultimately dropping 74% in the last 2 months. Hamster was going to launch a second season in October end but there is no news of that so far.
If W-Coin wants to emulate a digital asset then Notcoin is a better option as its market cap peaked just before reaching $3 billion and since then they have reinvented many times to keep people interested in the NOT token. Although NOT has dipped 78% from its peak, there's still an upward trend for it.
As of now, there is no information available on the amount of W-Coin tokens that will be available for the airdrop. There is also no indication of premarket trading like those available before other airdrops