Hamster Kombat, the popular Telegram tap-to-earn platform, is under intense pressure from impatient community members to list the HMSTR token.
It is still unclear when the final listing will happen, although the developers have committed to do it soon. In a recent note, the creators listed a few things to watch when it finally lists, including that players will receive 60% of their holdings.
Hamster Kombat price on futures has dropped
In a recently released white paper, the developers also noted that they would publish details of the airdrop’s tokenomics breakdown.
Still, despite the listing delay, Hamster Kombat is contending with some bad news. Most notably, the HMSTR pre-market Futures offered by the OKX crypto exchange have plunged to a record low. These futures started trading on August 1st at $0.3199 and have slipped to $0.1647, a crash of almost 50%.
The futures market might be a good predictor of what to expect when the token finally lists in the coming weeks or months.
This price action mirrors that of other tap-to-earn tokens that have been previously listed. Notcoin’s price initially peaked at $0.029 but has now tumbled by almost 60% to $0.011. Similarly, Pixelverse’s price has dropped by 78% from its all-time high, while the Avacoin token has tumbled to a record low.
Additionally, this trend also mirrors that of other play-to-earn tokens that boomed during the pandemic. Tokens like Axie Infinity (AXS), Decentraland (MANA), and Sandbox (SAND) soared at the time and achieved multi-billion valuations. Today, they have all tumbled and are valued at less than $1 billion.
Hamster’s ecosystem growth
Hamster Kombat’s challenge is how to engage its users after the token listing. Analysts believe that users will rush to sell the tokens and exit. Few users will likely maintain or hold onto their tokens since they have seen other tap-to-earn tokens plunge.
Notcoin has also gone through the same issue, and developers are now battling to create an ecosystem for the network. In a recent note, they noted that they were creating a new game that will reward users with NOT coins. However, whether the new game will attract new users or positively affect the struggling token’s price is unclear.
Hamster Kombat has become the most popular game in the crypto industry. The mini-application lets users earn tokens by tapping a button or engaging in simple activities like sharing the game or watching its YouTube videos.
As a result, its YouTube channel has broken a record by adding almost 40 million subscribers within less than three months. The challenge will be replicating the Hamster Kombat’s success to its publicly available token.
