A new trend has taken Nigeria by storm, with people of all ages incessantly tapping on their phone screens in pursuit of financial rewards. Tapswap, a popular clicker app, has become the latest craze, with users tapping the icon on the Telegram Tapswap bot screen to mine coins.
The app’s sudden popularity has led to a nationwide phenomenon, with viral videos capturing individuals of all demographics engaging in obsessive tapping. In one clip, a Keke driver is seen tapping on his phone with one hand while steering his vehicle with the other. Another video shows traders in Northern Nigeria tapping vigorously on their screens, while youths and adults in Ogun State multitask by tapping on their phones while working.
Why the Frenzy?
Chi Ofoegbu, a freelance Product Marketing Manager for crypto projects, explained that Tapswap addresses a significant challenge in Web3 and crypto: onboarding new users. “The tapping is essentially a way to invite new users and test the system’s capacity,” he told PUNCH Online. The app rewards users for inviting others, making it an effective method for community building.
Web3, also known as Web 3.0, represents the next generation of the World Wide Web, characterized by decentralization, blockchain technology, and token-based economics. Stephen Ajiboye, a Web3 educator, likened Web3’s potential impact to that of the dot-com boom, highlighting its transformative potential.
The Appeal of Tapswap
The appeal of Tapswap lies in its simplicity. Users only need to tap to earn points, which can later be converted into tokens. This model was previously successful with Notcoin, another clicker app that amassed millions of users and rewarded participants significantly.
“People are drawn to Tapswap because it’s easy to use, especially since it operates on Telegram, a platform familiar to many,” Ajiboye explained. This ease of use has contributed to Tapswap’s viral success, with the app boasting 17 million users as of May 2024.
Financial Rewards
Tapswap offers the possibility of financial gain through airdrops, where users receive tokens as rewards. However, Ofoegbu cautioned that not all airdrops are successful, and the actual earnings may vary. “While some people might earn substantial rewards, others may find their efforts yield little,” he said.
Ajiboye added that after the mining period ends on May 30th, there will be a verification process before users receive their tokens. This process ensures the legitimacy of the users and prevents abuses such as multiple accounts or autoclicking.
A Path to Crypto Education
Beyond the financial rewards, Tapswap serves as an introduction to cryptocurrency for many Nigerians. “Five out of ten users might decide to learn more about crypto after earning money from tapping,” Ajiboye noted. This growing interest in crypto education could lead to broader adoption and understanding of Web3 technologies.
Ofoegbu emphasized that the money for airdrops comes from venture capitalists who back these projects in exchange for user acquisition. “This is the cheapest way to acquire users, and the money used to reward participants is part of the investment from these backers,” he explained.
As Nigerians continue to tap away, the Tapswap phenomenon highlights the intersection of technology, finance, and education, offering a glimpse into the future of digital economies.