Web3 Game Hamster Kombat Takes Stand Against Venture Capital Exploitation in Web3
Web3 Game Hamster Kombat– The admins of Hamster Kombat recently shared in their official Telegram group, Since our explosive growth began, we’ve received numerous investment offers from some of the biggest venture capital firms in the Web3 space. We’ve turned down every single one.
They went on to say, Too many Web3 projects have built audiences only to use them as exit liquidity for their venture capital backers. Unfortunately, this has become the norm in the industry. We stand against this practice. We want the Web3 space to return to its fundamentals.
According to the admins, rather than focusing on creating innovative projects that generate real value and revenue, many companies prioritize crafting a convincing pitch to secure funding, which they then spend on marketing. After conducting an airdrop or even a public ICO, they often walk away, leaving users holding the bag.
Hamster Kombat: A Fun, Blockchain-Based Experience
Hamster Kombat allows its players to become the virtual hamster CEO of a crypto exchange of their choice, such as Binance, OKX, and others, on its platform. Players tap the hamster on the screen to start earning points that can be used to acquire upgrades for their in-game exchange.
The game runs on the TON blockchain and claims to have 200 million users as of July. Players can convert their in-game coins into HMSTR tokens, which are tradable on cryptocurrency exchanges. Since its April release, the game has gained significant popularity, amassing 53 million subscribers on its Telegram channel. The only way to obtain the future HMSTR token is by playing the game. Approximately 60% of the total supply is reserved for the players, with the remainder allocated to providing market liquidity, future ecosystem partnerships and grants, rewarding squads, and other initiatives.
Why Is Venture Capital Funding Getting a Bad Reputation?
In recent months, crypto venture firms have been criticized by parts of the crypto industry, particularly for investing in projects whose tokens eventually achieve a higher valuation than the initial investments made by these firms. This often leads to downward pressure after exchange listings, leaving public investors with losses. As CoinDesk previously reported, newer tokens like Aptos’ APT and Sui Network’s SUI have fallen as much as 70% from their 2023 peaks, while Bitcoin (BTC) continued to rise and hit new highs in 2024.
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