Two hot projects have recently emerged in the Web3 space: NOTCOIN, a game within the Telegram ecosystem using a lightweight Tap-to-Earn model for mining and growth, and UXLINK, a social platform that leverages a Link-to-Earn model to build a Web3 social network. UXLINK organizes users into acquaintance groups, serving both users and developers. Both projects have gained massive user bases in a short period, with mass adoption as one of their core missions.
User Growth and Engagement
NOTCOIN
- User Base: More than 10 million users and one million active users before listing on centralized exchanges (CEXs).
- Market Performance: Listed on several top-tier CEXs on May 16th, with a fully diluted market capitalization of about $1.2 billion.
UXLINK
- User Base: Over 7 million registered users and reaching 8 million users through 100,000 groups.
- User Organization: Uses social relationship mechanics to build and organize its user base.
On-Chain Data Comparison
Due to the difficulty in verifying off-chain data, we focus on on-chain data for a more reliable comparison. NOTCOIN’s on-chain data is on the TON blockchain, while UXLINK’s data is on the Ethereum Virtual Machine (EVM).
On-Chain Holders
- NOTCOIN:
Pre-TGE: About 220,000 holders.
Post-Listing: Steadily increased to over 1 million holders.
- UXLINK:
- Current: Over 4 million UXLINK assets holders.
- NFT Holders: About 1.4 million NFT holders. NFTs are used as certificates for high-quality users eligible for airdrops, suggesting UXLINK had around 1.4 million or more tokn holders before listing.
On-Chain Active Users
- NOTCOIN:
Post-TGE: 300,000 to 500,000 active users within the first five days, showing a downward trend.
- UXLINK:
Daily Active Users: More than 500,000 daily users.
User Activity: 574,000+ users in 24 hours, 1,000,000+ users in 7 days, and 3,800,000+ users in 30 days.
Token Allocation
- NOTCOIN:
- Total Supply: 102,719,221,714 tokens.
- Distribution: 78% to miners (Tap-to-Earn) and voucher holders; 22% to future ecosystem funds and development.
- UXLINK:
- Total Supply: 1,000,000,000 tokens.
- Distribution: 65% to community contributors and developers (POW, Link-to-Earn & Build-to-Earn); 35% to investors, teams, and project development.
Conclusion
There are very few Web3 projects with over 5 million users. Although NOTCOIN and UXLINK operate in different sectors, making a detailed business analysis challenging, comparing their on-chain data and token distribution reveals common traits of successful projects aiming for mass adoption. These insights can inform strategies for other projects seeking similar success in the Web3 space.
