- Hamster Kombat has become the latest hot P2E game.
- Global authorities have issued warnings about the game for various reasons.
- The hype surrounding the project and its token has exploded.
The Play-to-Earn (P2E) market has become a significant force in the cryptocurrency ecosystem, boasting a market cap of $9.6 billion according to CoinMarketCap. While Axie Infinity once reigned supreme in this category, its popularity has waned considerably since a major hack in 2022. This has left room for new contenders to emerge, with Hamster Kombat positioning itself as the next potential P2E powerhouse.
Hamster Kombat has captured users’ attention with its winning formula of adorable characters, simply “clicker” gameplay enhanced by light strategy elements, and the alluring promise of financial rewards. However, as the game’s popularity soars, it has also attracted scrutiny from global authorities. Several countries have issued warnings about Hamster Kombat, raising concerns about its impact and potential user risks.
Hamster Kombat launched on March 26 and casts players as Hamster CEOs of a crypto exchange. The game’s core mechanic involves incessant screen tapping to in-game effects to earn in-game currency. This simple yet addictive gameplay has proven wildly successful, attracting 150 million users since its debut.
Despite its popularity, Hamster Kombat has drawn criticism from various global authorities. In Iran, where the game has gained significant traction, Rear Admiral Habibollah Sayyari, deputy chief of the Iranian Army, labeled it as part of a “soft war” against the country.
With Iran’s presidential election scheduled for June 28 following Ebrahim Raisi’s untimely death in a helicopter crash, Sayyari claims the game is a tool to distract and pacify Iranians, potentially impacting their engagement with the upcoming election.
Russian officials have also voiced concerns. Anton Tkachev, a Russian lawmaker, dismissed the game as a “pyramid scheme,” cautioning players about its deceptive “passive income” potential.
Tkachev advised users to approach Hamster Kombat as a regular game rather than a genuine money-making opportunity, stating, “You need to remember that you can’t make big money in such a simple way. Treat it like a regular game and save your time.”
In Uzbekistan, the stakes are even higher for players. According to Roskomsvoboda, an organization advocating for digital rights, Uzbek users risk a 15-day detention or a substantial fine of approximately 72,000 rubles ($820) for attempting to convert in-game currency into fiat money. However, there are conflicting reports of Hamster Kombat’s monetization.
Explosive Growth
The path to monetizing Hamster Kombat gameplay is unclear at present, with conflicting reports on whether the official HSMTR token is already available on decentralized exchanges (DEXs,) particularly as there are multiple tokens with the HMSTR ticker on DEXs. DailyCoin reached out to the Hamster Kombat team for clarification, but no reply was received at the time of publication.
However, Hamster Kombat recently announced via its X account that they are collaborating with unnamed exchanges for centralized exchange listings of its token, urging followers to stay tuned. Monetizing gameplay requires a market that pairs the HSMTR token, either directly to a fiat currency or to a coin such as BTC that is paired to a fiat currency.
According to the project’s roadmap, a token generation event (TGE) is slated for July. Typically, a TGE marks the public release of a token, sometimes in the form of an airdrop to users.
Hamster Kombat has experienced explosive growth across social media platforms. Their YouTube channel, featuring a cartoon hamster delivering crypto news, has amassed 28 million subscribers. The project’s Telegram channel boasts over 44 million subscribers, while their X account has attracted 9.6 million followers.
On the Flipside
- The monetization aspect of P2E blurs the lines between gaming and gambling, putting crypto-based games in a legal gray area.
- Economic instability in some regions can fuel interest in speculative investments and activities.
- Axie Infinity has suffered a 91% decline in monthly player count from its January 2022 peak.
Why This Matters
With some authorities warning about the implications of Hamster Kombat, the game’s explosive growth underscores the power of viral trends in shaping economic behavior.
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Sourced from dailycoin.com.
Written by on 2024-06-24 15:00:00.
