will new initiatives help TAPS price?
Tapswap, the favored tap-to-earn platform on Telegram, is gearing up for its long-delayed token era occasion.
In a press release on X, Tapswap’s builders mentioned they had been making ready to launch a staking platform forward of the airdrop. The staking characteristic will permit TAPS token holders to earn passive earnings whereas supporting the community.
The builders are additionally engaged on a brand new skill-based recreation that customers can play to earn rewards. This recreation is anticipated to launch earlier than or shortly after the token era occasion, which is scheduled for Valentine’s Day.
Tapswap hopes to keep away from the errors made by different tap-to-earn networks like Hamster Kombat (HMSTR), Catizen (CATI), and Notcoin (NOT). All these tokens have dropped by over 70% from their airdrop highs and misplaced thousands and thousands of customers.
In keeping with IntoTheBlock, Hamster Kombat now has fewer than 4 million holders, down from over 300 million throughout its airdrop. Catizen and Notcoin have 1.6 million and a couple of.8 million holders, respectively, down from over 40 million in 2024.
Tapswap’s technique for retaining customers is to develop a easy skills-based studying recreation the place TAPS holders can proceed taking part. The staking aspect provides to the token’s utility, giving holders an incentive to earn passive earnings.
Will TAPS value rise or fall after the airdrop?
It’s nonetheless too early to foretell whether or not the TAPS value will rise or fall following the much-anticipated token era occasion in February.
Nevertheless, a number of indicators recommend that the token may decline after the airdrop. First, most Telegram-based tokens have dropped sharply after their airdrops, with solely a small share of holders remaining in revenue. For instance, solely 0.59% of HMSTR holders are at present in revenue, in keeping with IntoTheBlock.
Second, historic traits present that almost all “to earn” tokens lose worth over time. Play-to-earn tokens like Decentraland, Axie Infinity, and Gala have all dropped by double-digits from their all-time highs. Equally, move-to-earn tokens like StepN and Sweat Economic system have all dropped after their airdrop.
Third, many Tapswap holders are annoyed by the continued airdrop delays. Initially scheduled for July 2023, the airdrop was postponed to the third quarter, then moved to January 2024, and is now set for mid-February.
Given these repeated delays, many holders might promote their tokens instantly upon itemizing, notably after seeing related tap-to-earn tokens decline in worth.
