Tapswap, the widely anticipated tap-to-earn cryptocurrency, is finally launching its airdrop after months of delays. The event will allow users to claim their accumulated tokens and exchange them for stablecoins or fiat. But with a history of similar projects collapsing post-airdrop, concerns are mounting: will Tapswap be any different, or is another crash inevitable?
Tapswap Enters a Shaky Market
The timing of Tapswap’s launch couldn’t be worse. Most tap-to-earn tokens have struggled after their airdrops, with prices tumbling as early adopters rushed to sell. Recent data paints a grim picture—Notcoin, Hamster Kombat, DOGS, CATI, and PunkCity have all seen their valuations drop over 50% from their highs.
A particularly alarming trend is the mass exodus of token holders. Notcoin, once boasting over 40 million users, now has just 2.8 million holders. Hamster Kombat, which at its peak had over 300 million users, now only has 3.9 million. The same fate has hit every major Telegram-based tap-to-earn token, leading many to question if this model is sustainable.
Can Tapswap Break the Cycle?
Tapswap’s developers claim they have learned from past failures. They’ve introduced strategies aimed at preventing a sharp sell-off, including a skill-based game where users can play and earn rewards.
But will that be enough? There’s a growing disconnect between developers and users. While the team envisions an evolving ecosystem with real utility, most participants see tap-to-earn as a quick way to accumulate tokens and cash out. When the airdrop happens, the big question remains: will users stick around, or will they dump their holdings like they did with previous tokens?
History Isn’t on Tapswap’s Side
It’s not just tap-to-earn projects that are struggling. Several high-profile airdrops from different sectors have followed a similar path.
- Wormhole and ZkSync, two projects with strong technological foundations, have seen their token prices plummet despite high expectations.
- Berachain, another recently airdropped token, has struggled to maintain its value.
Even outside the airdrop trend, the broader “to-earn” sector has seen major declines. Axie Infinity, Decentraland, and Sweat Economy—once pioneers of play-to-earn and move-to-earn models—have all suffered steep losses, raising questions about whether the model itself is flawed.
Frustrated Miners and a Market Ready to Sell
Tapswap’s biggest challenge isn’t just external market conditions—it’s the mindset of its users.
After repeated delays of the airdrop and Token Generation Event (TGE), many early adopters have grown impatient. Instead of staying engaged with the ecosystem, they just want their tokens and a chance to exit at a profit. This sentiment is exactly what caused previous tap-to-earn projects to crash, and Tapswap may not be immune.
The combination of frustrated miners, past market trends, and an oversaturated “to-earn” industry sets the stage for a volatile post-airdrop period. While Tapswap’s developers may have high hopes, history suggests that its success depends entirely on whether enough users believe in its long-term vision.
