In 2024, the gaming world was taken by storm by the simple clicker game Hamster Kombat, which reached over 350 million users worldwide. However, the rapid rise was followed by a sharp decline: within three months, the project lost about 75% of its user base, and holders of HMSTR tokens incurred losses.
The success of Hamster Kombat created a dangerous precedent in the gaming industry. Unlike classic Play-to-Earn games that require initial investments and understanding of mechanics, Tap-to-Earn projects offered a deceptively simple formula: tap the screen, perform simple actions, and earn money. The zero entry threshold and primitive gameplay provided these games with unprecedented mass appeal.
However, behind the apparent simplicity lies an opaque reward system. Tap-to-Earn developers usually promise to issue tokens and distribute them to players in exchange for accumulated points. However, there are no guarantees that the token will actually appear and have any value. The story of Hamster Kombat, where thousands of people were 'tapping the hamster' around the clock in hopes of getting rich, vividly demonstrated the risks of such a model.
The market has been flooded with hundreds of clones, many of which turned out to be fraudulent or unviable. The mass appeal of these projects seriously damages the reputation of GameFi. A similar opinion is shared by the team of the blockchain game Rooster Fights, noting that against the backdrop of the waning hype around Tap-to-Earn games, the trend may 'descend' to scammers, leading to a flood of low-quality projects on the market and financial losses for users.
By mid-2025, the Tap-to-Earn game crisis may evolve into an existential crisis for the entire gaming industry, affecting user trust and approaches to game monetization. Players, disappointed by the lack of promised rewards, may lose interest in traditional gaming mechanics without financial incentives, putting the industry at an impasse.
The consequences of the collapse of Tap-to-Earn projects could extend far beyond the crypto industry, fundamentally changing our relationship with digital entertainment. Traditional game development may experience a deep crisis, and major gaming studios that invested significant resources in GameFi projects will face financial difficulties. A new type of addiction related to Play-to-Earn and Tap-to-Earn games may emerge, and authorities in various countries may impose strict restrictions or an outright ban on connecting game mechanics with cryptocurrencies.
Nevertheless, a more likely scenario suggests that GameFi will remain a niche product coexisting with traditional games. The trend for Tap-to-Earn games will persist in 2024, and fewer new games of this format will emerge. Major publishers will approach the integration of crypto mechanics more cautiously, while existing projects will be able to strengthen user trust through thoughtful product development focused on players' needs.
In conclusion, the experience of 2024 shows that even the most incredible scenarios can become a reality. The industry must learn from the lessons of Tap-to-Earn projects and strive to create quality and engaging content that will be valued by players regardless of financial incentives.$PENGU