A new gaming trend that has millions of players worldwide captivated is tap-to earn (T2E).
This type of mobile gaming is one of the most popular and addictive genres on the market.
Tap-to-earn’s power to reshape how gamers interact with video games is growing. It shows no sign of slowing.
What is Tap-to-Earn Gaming?
Tap-to-earn games are based on a simple concept. Players earn rewards in game, usually in tokens or cryptocurrency, by tapping to perform tasks. They earn more the more they tap.
The games have been designed with a minimum cognitive effort and are therefore accessible to all gamers.
Earned tokens are often exchangeable for fiat money or cryptocurrency, adding an element of real-world incentive to gaming.
T2E is a subgenre within the larger play-to earn (P2E), gaming genre. It rewards players with real-world assets.
The assets that players may choose to trade include cryptocurrency tokens, non-fungible (NFT) tokens and other digital tokens.
A study conducted by Business Research Insights found that the market for play-to earn NFT games (including T2E) was worth $755 million by 2021, and projected to reach $6.3 billion in 2031. This represents a 21.3% CAGR.
Tap-to-earn is an easy concept to grasp: Users play games and tap on the screen in order to perform in-game challenges or tasks. They can earn rewards, or game currency, with every tap. This in-game money or reward can be later redeemed in fiat money or other cryptocurrency.
The more you tap the higher your earnings. The games have been designed to be easy and require minimal mental effort. This makes them available to all players.
The T2E sub-genre is part of the ‘Play-to-Earn (P2E), games.
The Tap-to Earn (T2E) is a part of the larger Play-to earn (P2E), where players receive in-game rewards that are real world assets, such as a cryptocurrency or non-fungible tokens (NFTs). These items can then be exchanged for real cash or other crypto currencies.
According to Business Research Insights, the global Play-to Earn NFT Games market size reached $755 millions in 2021 and is projected to reach $6 billion by 2031. This represents a 21.3% CAGR during the forecast period.
Statista, December 20, 2022: Level of interest among US adults to play games for money by age group
According to DappRadar, by 2022 the blockchain-based games category, which includes both P2E and t2e games, will generate $4.5 billion of revenue.
Tap-to-earn games are a success because of their psychology. The games are kept interesting by providing small rewards in an endless stream.
The “reward loop” stimulates the pleasure centers of the brain, which creates a cycle of dopamine that encourages users to keep coming back.
Some of these games offer referral bonuses that can help attract more players and increase the value.
Tap-to-earn is a simple and easy game that gives players an instant sense of achievement. This makes them very addictive. The players quickly get invested and eager to receive more rewards for every tap.
Why Telegram has been so important to the growth of tap-to earn?
Integration with Telegram, the popular messaging application, is one of the key factors behind T2E’s rapid growth.
Telegram, with its over 950 millions users around the world, provides an ideal platform to allow these games flourish.
Telegram, unlike traditional app stores for mobile devices, allows its users to tap and earn games within the application, eliminating the requirement of separate downloads or links.
The Open Network, a Telegram-backed blockchain, has launched tokens for many T2E Telegram games.
The TON wallet is integrated within the app and allows users to store, exchange, and manage their tokens all on one platform.
Telegram is a major factor for the success of T2E Games because of its seamless, easy-to-use experience.
Telegram’s simple user interface, which focuses on privacy and safety, has further increased the appeal of T2E.
Users feel safer playing games with the security of this platform, as it allows them to easily access games.
Hamster Kombat: The Rise of Major Players
Hamster Kobat is a T2E game that has been a huge success. The game was launched with low expectations but quickly became popular due to the engaging gameplay, leaderboards and rewards.
Players engage in virtual battles with hamsters by tapping on the screen to make moves, gain rewards and rise the ranks.
Its fast-paced gameplay and humorous theme have made this game a favorite among players.
The community-driven nature of Hamster Kombat‘s gameplay sets it apart. The constant competition between players to be the best is what keeps them engaged and motivated.
Developers also introduce regular updates and new content to keep the game fresh.
The trend has also been embraced by other popular T2E Games, such as Dragon Ta Frog Jumper TapSwap and notcoin.
The T2E mechanics are used in each game to create a unique experience.
The market for T2E continues to grow as more and more developers enter the T2E space.
Is there a long-term future for tap to earn?
T2E is currently a popular game, but their potential for long-term success depends on several factors.
User adoption is rapid: The ability of T2E to attract an enormous user base quickly has been a major factor in the games’ success.
T2E Games have been able to grow rapidly due to the simplicity of their games and platforms such as Telegram that already have a large number of users.
The games are a great way to introduce millions of users into decentralized financial technology (DeFi).
T2E has already been able to attract millions of users worldwide, extending beyond the usual crypto-savvy crowd.
T2E Games have helped to spread blockchain adoption by rewarding players with crypto tokens when they complete simple tasks in the game.
The ability of T2E to educate and evolve: Like any other trend, future success depends on the ability to evolve.
To increase player engagement, developers could incorporate more complicated features, such as NFTs (Network Feeds), staking and other blockchain incentives.
T2E could offer a richer and more valuable gaming experience that would keep users engaged for longer and reward them with greater rewards.
T2E can also be used to teach players more about blockchain technology and cryptography.
T2E Games can serve as an introduction to the decentralized ecosystem by introducing players to digital asset management (dApps), decentralized applications, and governance participation.
Uncertainties and challenges: T2E Games face several challenges, which could affect their sustainability on a long-term basis. The economic model is one of the biggest challenges.
To maintain token rewards systems in many T2E games, they rely on a continuous growth of users.
The token economy may be unstable if the number of players decreases, resulting in a reduction in rewards to existing players.
While T2E is currently popular, it may not be possible to maintain user engagement on a long-term basis.
T2E is a game that relies on simple mechanics, which may become boring over time if they are not constantly innovated.
Blockchain applications: a gateway to advanced blockchain technologies
T2E Games can serve as an entry point to blockchain-based applications that are more complex.
T2E Games could be an important part of the crypto-ecosystem by integrating DeFi, cross-platform interaction, NFTs and other features.
The games could evolve to offer the players the opportunity to explore more decentralized and advanced applications.
What is next for Tap-to-Earn Gaming?
Industry experts believe that as the sector of tap-to earn gaming continues to expand, it will continue to evolve. This trend is expected include more features and gameplay mechanics.
Hashkey Capital, Animoca Brands and other investors see the T2E game as a proof of scalability for blockchain gaming models.
Yat Siu is the CEO of Animoca Brands. He said that “the next 100-200 million Web3 users will be coming from Telegram’s gaming ecosystem.”
Analysts are convinced that these problems are only temporary.
Hamster Kombat, Notcoin and other simple but rewarding games are predicted to dominate the market.
As new information becomes available, this post Tap to Earn Gaming Surges with 950M Telegram Users Driving Rapid Growth may be updated.
