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Since August, the popular tap-to-earn game Hamster Kombat has experienced a dramatic decline in its user base. As of November 5, the number of active players has decreased by 86%. The player count, which was approximately 300 million, has fallen to 41 million, marking a drop of 259 million.
Paws Competition Challenges Hamster Kombat
One of Hamster Kombat’s major issues has been the rapid growth of a new competitor, Paws. Paws quickly reached a large audience on the Telegram Mini App platform. This situation has contracted Hamster Kombat’s market share and led to a swift erosion of its player base.
The native token of Hamster Kombat, HMSTR, has seen a 75% decrease from its peak value reached in September. According to CoinMarketCap data, the current price of the token is at 0.0025 USD. However, the number of wallets holding the HMSTR token has reached 3.5 million in the past month.
Overall Decline in Tap-to-Earn Models
The decline of Hamster Kombat also signals a general downturn in the sector. According to DefiLlama data, the total value locked (TVL) in the most popular crypto projects on The Open Network (TON) has decreased from 750 million to 300 million USD. Interest in the tap-to-earn model is steadily waning.
The Telegram game Tomarket recently distributed an airdrop for the TOMA token, but many users were unjustly banned from the platform. Following complaints, the Tomarket team lifted these bans, allowing players access to the airdrop rewards. After the incident, Tomarket reevaluated its account verification process.
In conclusion, Hamster Kombat and similar games are undergoing a challenging period due to user losses and declining token values. Competition, regulatory pressures, and diminishing user trust significantly impact the future of these games.
