Telegram is seen as one of the buzzing channels crypto projects utilize in growing their ecosystem. The social media community that was notably known as the #web2 platform is revolutionizing to embrace the #web3 world as it onboards massive participants who gain interest in mining crypto projects that are seen to be “airdrops.’ In the cryptoverse, tap-to-earn which is seen as the order of the day has drawn competition with other crypto tokens; Nigeria, one of the most populated African countries has a greater number of active crypto miners who grab every innovative #web3 opportunity that comes.
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In as much as the government has banned #cryptocurrency, Nigerian citizens see it as an avenue of earning because of its recognition as a third-world country where we gasp for survival; more so, the tap-to-earn strategy is seen as an easier way to earn crypto tokens because participants simply tap the screen to increase the reward of the native token. The strategy is unique when compared to other approaches like watch-to-earn, play-to-earn, completing surveys, etc. The project became a massive adoption after the launching of NOTcoin which a greater number of Nigerians earned when it was launched. Today, every home in Nigeria happens to participate in any airdrop related to tap-to-earn. Furthermore, there are some implications this airdrop has caused the citizens which include:
Crypto Awareness:
Many Nigerians were ignorant about crypto until they made their first earning in NOTcoin; though there are some limitations in the knowledge because an average Nigerian believes it is just by tapping to gain reward, not knowing the fundamentals behind the project or the basic terms in #crypto. Definitely, it will be unfortunate many Nigerians tap yet they have not connected their wallet to the platform; but Rome was not built in a day, so, with daily engagement in the space, knowledge about #crypto will be unveiled. For now, the #airdrop earning stands as a significant mode of creating crypto awareness in Nigeria.
Encouraging Savings and Investments
The value of Nigerian currency is depreciating, currently $1 = #1440, and the standard of living has increased. Through foreign earnings, citizens are encouraged to earn cryptocurrency, and they get introduced to the broader crypto ecosystem. This knowledge will result in exposure to learning about saving, trading, and investing in digital assets. The potential for value appreciation in cryptocurrencies also encourages users to hold onto their earnings rather than spend them immediately.
Empowerment of the Youth
As the Nigerian population keeps increasing, the government has not generated job opportunities to eradicate poverty in the society. Embracing blockchain technology as a Nigerian is a timely offer to the youth as it provides a sense of empowerment and an opportunity to participate in the global economy. In the NOTcoin listing, many youths testified how the airdrop aids their paying of school fees, house rent, etc. It is a project that also inspires interest in technology and finance, potentially guiding career choices and educational pursuits.
Conclusion
"Tap to Earn" crypto projects are a development in Nigeria's digital economy. They offer innovative solutions to longstanding issues such as unemployment and financial exclusion in the country, it also build a more digitally literate and financially empowered population. With the right support and education, "Tap to Earn" projects could play a role in shaping a more inclusive and good future for Nigeria.
This article is written in InLeo
Inleo is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH, and Polygon blockchains. Our flagship application: Inleo allows users and creators to engage and share content on the blockchain while earning cryptocurrency reward