HAMSTER KOMBAT: BATTLE FOR THE COINS

The Launch of the Gaming Project
On the 26th of October 2024, millions of Nigerians anxiously waited on the seven months long crypto mining project for the payment of the year that will set them free from a life of financial hardship through the popular “tapping game” Hamster Kombat. Hamster Kombat is a Play-to-earn (P2E) game on the Telegram messaging app where players can earn virtual hamsters coins turned to cryptocurrency tokens called HMSTR tokens which launched its first season on the 10th of March 2024 and ran for seven months until it was listed on various decentralized exchange platforms like; Binance, Bybit, Kucoin,etc. It was developed by Blum, a gaming company with major partnerships across popular blockchain platforms like Solana, Ethereum and Polygon. It was one of the first games to launch on the telegrams “The Open Network” (TON) blockchain and became one of the largest crypto games in the world. The game aimed at creating an ecosystem that rewards players for participation and had a total supply of 100 billion tokens but only sixty percent were to be distributed to 130 million active players, although it exceeded 300 million users early September of whom about 43% were recorded to be Nigerian.

The Listing Date: A Bad Harvest
For most players the initial expectations for the tokens value were high, critics argue that the developers didn’t reward the players according to the actual value, this is because many Nigerian youths quickly embraced the P2E more than a game but as a source to generate income. Furthermore, the games anti-cheating measures led to the disqualifications of a substantial number of players but many believe these measures weren’t implemented justly. The recent phenomenon of using the term “dust” is a slang that emerged as Nigerians show their frustration with the disappointment with the projects payout, although its origin is not known many traders argue it came from the stable coin “usdt” turned into dust.
Several influential crypto traders and enthusiasts have voiced their frustrations regarding the launch and disappointed payouts on September 26, 2024. Geoffrey Nwankpa, a prominent figure in the crypto space humorously stated on his social media “You gave me dust after four months! I’m hunting hamsters, rats, rabbits. It’s hunting season.” Bello Musa, a pharmacist who supposedly resigned from his job to focus on mining hamster kombat publicly lamented about the meager rewards he received in an emotional post stated “I resigned from my job where I built a professional and unblemished career…only for me to be rewarded peanuts.” These reactions are a larger wave of disappointment among Nigerian users. For some, the financial rewards helped alleviate economic pressures of the daily life while others raised concerns as the P2E’s profit making model depends on user engagement and are not seen as a means of sustainable income.

Based on the data available, Hamster Kombats YouTube channels have generated impressive revenue. With over 1.2 billion total views across their channels, and an average of around 20 million views per day, their estimated monthly revenue ranges from $1.2 million to $3.7 million. This estimation is based on standard cost per thousand views for YouTube, which fluctuates depending on certain factors. With such viewership growth, the total revenue generated across all Hamster Kombat YouTube pages since their launch is likely in the tens of millions, particularly as they continue to attract large audiences through promotional strategies. This assessment raises suspicions as more breakdowns on projected income across multi-lateral pages and social apps,
making the game appear as a sweatshop,

The Ripple Effect of Cryptocurrency in Nigeria
The rise of hamster kombat in Nigeria has been significantly influenced by the success of other crypto currencies like Notcoin, Dogs and various others that have gained attention in the country, these not only provide lucrative returns for early adopters but created a phenomenon that drew many Nigerians into the crypto space. With the disqualifications of 2.3 million accounts linked to Nigeria and the HMSTR tokens entering the crypto markets there are concerns on the risk of financial loss considering how the Nigerian government has had a complicated relationship with cryptocurrency which was motivated over potential financial crimes and the risk of money laundering however the government has shifted its stance recognizing the economic potential of cryptocurrencies and the growing public interest. Despite the ban Nigerians have shown resilience in peer-to-peer platforms bypassing traditional banking systems. The Nigerian government is faced with the challenge of harnessing the economic benefits of cryptocurrency while maintaining control over financial stability. The economy has faced high inflation, unemployment, and a depreciating currency. These issues have pushed many Nigerians to seek alternative means of income, leading to a surge in interest in cryptocurrency. With the naira losing value, many individuals turn to digital currencies as a way to earn in dollars. It’s evident in platforms like Hamster Kombat and other blockchain-based games, which promise returns that outpace traditional investments. The appeal lies not only in the potential for high returns but also in anonymity and ease. Cryptocurrencies provide a sense of financial empowerment and an escape from the limitations of the local economy. The failure of
Nigerias economy causes a growing reliance on cryptocurrency as a means for financial stability showing the need for more robust economic reforms and income opportunities.

The major question on who to be blame remains elusive whether it is the developers, the
Nigerian government, Telegram, those uninterested in clicking the referral links or the players themselves. Given the early stage of the coin’s implementation, it may seem premature to blame the developers for not paying out fully in real-world currency yet. The game developers have promoted their intentions for blockchain integration but haven't confirmed specific timelines for when the HMSTR coin will be usable for real transactions. Although many players and Nigerians remain confused, one thing for certain is the rise of a society that is willing to embrace
change.