Top Telegram crypto game Hamster Kombat criticizes Web3 venture capitalists

Hamster Kombat, a popular tap-to-earn crypto game on Telegram that claims to have over 300 million players, has criticized the current venture capital culture in the Web3 space.

The team behind the mini-app stated that it has received "numerous investment offers" from undisclosed large venture capital firms in the Web3 space, but has turned them all down. Hamster Kombat claims it currently has no external investors but did not specify whether it would consider such offers in the future.

In any case, the project has expressed its discontent with the current state of fundraising in the Web3 space. Web3 itself is a term that’s loosely defined in the crypto world and sometimes refers to efforts to create a more decentralized version of the web. Others use it as a broader term for the crypto space.

"Too many Web3 projects have built audiences only to use them as exit liquidity for their venture capital backers," the developers of the game said, noting that this has "become the norm in the industry."

According to the team, it works as follows: instead of creating real value and revenue, Web3 startups focus more on securing funding, marketing, and token distribution. Then they abandon the project, leaving token holders with troubled cryptos.

"Build for your community, not for the investors," Hamster Kombat urged.

However, the team is currently working on its own airdrop, a method to distribute its HMSTR token, which it claims will be the largest airdrop in crypto history. Hamster Kombat previously stated that 60% of the total airdrop tokens will be distributed to players, while the remainder will be used to “provide market liquidity, ecosystem partnerships and grants, reward squads, and support other projects.”

Currently, the token can be earned by simply tapping a digital hamster on mobile devices.

"We are creating a platform for crypto games on Telegram and are confident that our games will bring over 1,000,000,000 users to the blockchain in the next year," the developers said.