EXCLUSIVE: TapSwap Founder Talks Airdrop, Value In Play-To-Earn Model, The Future Of GameFi

Web3 gaming has become a significant subsector in the broader blockchain space, with Web2 gamers hopping into the innovative world of games and tokens. Rising above many GameFi titles is TapSwap, a viral Telegram-based crypto game where players can earn $TAPS coins by engaging in various in-game activities.

Tapping, mining, trending

TapSwap gained popularity due to its easy mechanics that allow players to earn cryptocurrency by simply tapping on a screen. With over 60 million players worldwide, the game has risen above other Web3 games that have been in the space longer.

The game is powered by the TON blockchain and was launched in mid-February. Earlier this week, TapSwap announced a new game, Tappy Town, which involves building cities, managing builders, and maximizing rewards.

A stability-first mindset

Gamers have been anticipating TapSwap's Token Generation Event (TGE) and listing, especially as the team has yet to announce a specific date. TapSwap Founder Naz Ventura announced that the token distribution will take place sometime in the third quarter of 2023.

"The work on the airdrop is progressing well – we will run the token distribution in Q3, as announced. Establishing a stable model that ensures long-term profitability for users through token utility is a high priority for us – so we're not rushing the airdrop," he told International Business Times exclusively.

He went on to reveal that TapSwap is in talks with several tier-1 cryptocurrency exchanges, so players can rest assured that $TAPS will be listed on top crypto platforms by the end of Q3.

Helping Web2 gamers transition to Web3 through TON

TapSwap initially offered integration with the Solana wallet, but ultimately made the "well-thought-out decision" to launch on The Open Network (TON) instead. Since the announcement, the GameFi project has been "actively" developing infrastructure projects on the TON blockchain that should help facilitate a smooth transition for users to new technologies and open pathways for new opportunities within the Web3 space, Ventura said.

He added that there are now 67 million users, including 18 million daily active users of the tapping game. "Many of them are completely new to crypto," he said, highlighting how the game's easy mechanics are attracting even people who haven't been into crypto for a long time. "We quite gained some experience along the way and are ready now to share it for the greater good," he said.

A unique model centered on value generation

There are many "play-to-earn" games in the broader gaming market, but the model remains relatively new in Web3 gaming. TapSwap comes with its own unique qualities that indicate long-term profitability.

Ventura noted that the team has experts who are well-versed in the segment. For the team, current Web3 gaming models aren't very effective in maintaining long-term profitability for players.

"Our response to this challenge is a concept we call 'play – generate value – earn.' In this model, players do not merely play for earnings; they create value for our partners through gameplay. This, in turn, generates additional value, which is then distributed to players as rewards, ensuring stable and long-lasting earnings," Ventura explained.

A GameFi future that can benefit the digital economy

There is apparent interest in blockchain gaming, as revealed in DappRadar's Q2 2024 report on Web3 gaming investments. The report revealed that investments in Web3 gaming hit a staggering $1.1 billion in the second quarter of the year.

GameFi, which combines blockchain with decentralized finance (DeFi) and online gaming, has yet to get a huge chunk of the investment interest in the wider blockchain gaming sector. However, it's getting there.

For the TapSwap team, play-to-earn games will be "closely tied to real-world economies and social systems" in the next decade. "These games will not only serve as platforms for earning but also as tools for solving real-world challenges, creating additional value, and being used for purposes such as education, skill development, and social interaction," Ventura projected.

In such a scenario, investor interest in play-to-earn GameFi titles just may surge, especially as more players testify of how the model used by TapSwap and other similar games has helped them earn while also driving value and engagement within the community.

"As player engagement increases and technologies evolve, play-to-earn games could become crucial components of the new digital economy, built on the principles of decentralization and fair distribution of rewards. A key aspect of this development will be improving monetization models and ensuring long-term sustainability for all participants," Ventura said.