In a surprising move that has sent ripples through the crypto gaming world, Hamster Combat, the wildly popular Telegram-based game, has publicly rejected venture capital funding. The game, which has amassed a staggering 53 million subscribers since its April launch, is taking a defiant stance against what it terms the industry’s prevalent “exit liquidity” mentality.
The game’s developers have openly criticized the practice of building projects solely to secure funding, often through airdrops or initial coin offerings (ICOs), only to later cash out, leaving investors holding the bag. Hamster Combat is instead pledging to focus on creating sustainable value for its community of players.
“We want to return to the fundamentals of the web3 space,” the game’s admins declared in a recent Telegram broadcast. “We are committed to building a project that generates real value and revenue, rather than one that is merely a vehicle for venture capital exit.”
Hamster Combat’s gameplay revolves around players becoming virtual hamster CEOs of various cryptocurrency exchanges. By tapping the hamster on the screen, players earn points to upgrade their in-game exchange. These points can be converted into HMSTR tokens, which can be traded on cryptocurrency exchanges.
The game’s rapid growth, with a claimed 200 million users as of July, has undoubtedly attracted the attention of venture capitalists. However, the developers remain steadfast in their decision to forgo external funding.
The crypto industry has witnessed a growing disillusionment with venture capital in recent times. Many projects have seen their token values plummet after initial hype, leaving investors with significant losses. This has led to increased scrutiny of venture firms and their role in the ecosystem.
Hamster Combat’s decision to reject venture capital funding is a bold statement that could resonate with a community weary of pump-and-dump schemes. By prioritizing its players and focusing on building a sustainable project, the game is positioning itself as a potential outlier in an industry often criticized for its short-term focus.
Whether this strategy will pay off in the long run remains to be seen. However, Hamster Combat’s defiance is undoubtedly a refreshing change of pace in a sector that has been dominated by hype and speculation.
