Tap-to-earn games on Telegram might lead to mass adoption of cryptocurrency, according to Gleb Kostarev, the founder and CEO of Blum. Data from Blum, a mini-app Telegram game and exchange, shows that half of its 50 million registered users are new to crypto. These results lend support to the idea that Telegram users could potentially transition to Web3 and that such games are helpful in attracting new entrants into the world of cryptocurrency.
Tap-to-earn games, a new trend in the crypto space, basically involve players performing simple tasks such as repeatedly tapping their phone screens to earn in-game tokens. Games like Tapswap, Catizen, and Hamster Kombat are quite popular and use The Open Network (TON), a Telegram-linked blockchain. Playing these games, often unknowingly, exposes users to cryptocurrency.
On Blum’s platform, users can earn an in-game token by performing tasks such as tapping falling stars or watching videos. Kostarev notes, however, that audience education about crypto is crucial. Preventing scams requires not only attracting a large user base but also ensuring they understand how the crypto world works.
Kostarev further argues that Telegram can enhance accessibility to decentralized finance (DeFi) apps, which have been hindered by Apple and Google’s restrictive mobile app policies. Up to 80% of centralized exchange users access platforms via mobile phones, underscoring the critical role of mobile for DeFi adoption.
Traditional mobile platforms like Apple’s App Store and Google’s Play Store have often been at odds with DeFi and non-fungible tokens (NFTs), creating roadblocks for wider adoption. Kostarev posits that Telegram can bypass these roadblocks, providing easy mobile access to DeFi. Despite the optimism, it should be noted that Telegram is currently facing legal scrutiny, with its founder, Pavel Durov, recently charged in France for allegedly allowing criminal activity on the app.