Hamster Kombat, an innovative Web3 gaming platform, has recorded an impressive $5.3 billion trading volume for its HMSTR token as of November 14. This remarkable financial achievement includes $1.3 billion in daily spot trading and $4 billion in perpetual trading.
However, behind these figures lies a worrying decline in user engagement.
The decline in token usage and price
Despite the success in trading volume, the platform has seen a drastic drop in its monthly active users, dropping from 300 million in August to just 41 million in early November, a reduction of 86%. According to data from IntoTheBlock, active addresses on the network fell from over 700,000 in late September to less than 20,000 by November 13.
The price of the HMSTR token has also reflected this negative trend, declining from a high of $0.01 on September 26 to $0.00241 on November 15. These indicators suggest a decline in overall user interest.
Resilience in the community
Despite these challenges, the Hamster Kombat community remains optimistic. According to CoinMarketCap, 73% express confidence in the token, while only 27% take a bearish stance. Furthermore, the platform boasts a base of 11 million token holders, humorously compared by the team to “239 Yankee Stadiums full of hamsters.”
Reflections from Binance Blockchain Week
During Binance Blockchain Week in Dubai, Sasha Plotvinov, co-creator of Notcoin, stressed the importance of emotional engagement to retain users in Web3 games. At the “Telegram Mini Apps and Games” panel, Plotvinov highlighted that each gaming experience should feel unique to keep players interested.
Conclusion
Hamster Kombat faces an intriguing contrast: while its HMSTR token achieves outstanding financial figures, the platform struggles to regain the attention of its users. With a loyal community and efforts to innovate the gaming experience, the future of this Web3 platform will depend on its ability to balance financial success and user retention.
