Telegram’s ultra-viral Web3 gaming superstar, Hamster Kombat (HMSTR), has seen its monthly active players and token price decline by over 75% since the airdrop just over a month ago.
The record-setting Telegram gaming sensation, Hamster Kombat, has fallen from grace and was unable to retain its hundreds of millions of players following the HMSTR token airdrop.
The official Telegram bot shows that the tap-to-earn star has just 39.6 million monthly users.
The Hamster Kombat airdrop was billed as the biggest airdrop in crypto history, and it succeeded in this regard.
However, it also proved to be one of the biggest disappointments due to the meager returns players received.
To make matters worse, the team made some last-minute adjustments to the airdrop, including forcibly locking up a percentage of the airdrop rewards until 2025. Players were—understandably—furious.
It was obvious at the time that there was no way the game could retain such a huge player count, but the over 80% player drop-off was somewhat unexpected.
Evidently, with little to offer veteran and new players thanks to its bad reputation, the once-dominant Hamster Kombat has lost well over 100 million players since the end of September.
The once-coveted airdrop prize, the HMSTR token, also plummeted in value following its Sept. 26, 2024 launch.
If anything, it hasn’t seen a single week of consistent price gains and has dropped over 75% from $0.0085 to $0.0023 today.
Naturally, that decline has seen its $552 million market cap dwindle to just $139 million.
Seemingly, the Web3 gaming project has done little to reignite faith in its community and investors.
That’s not to say that it can’t bounce back in a meaningful way, but it will need to work even harder to dazzle audiences with its future airdrops and ecosystem developments.