Awat Na! HMSTR and CATI Plummet Over 50% Post-Launch, Prices Keep Falling
The launch of tokens for Telegram games Hamster Kombat (HMSTR) and Catizen (CATI) has led to a significant price drop of over 50% within just days of their debut.
Whatโs the significance: The significant price drop highlights the inherent volatility of web3 gaming, emphasizing the need for gamers to critically assess investments and the sustainability of play-to-earn models.
Key details:
- Hamster Kombat launched HMSTR on September 27, 2024, and Catizen launched CATI on September 20, 2024.
The numbers:
Peak Price:
- HMSTR: approximately $0.10.
- CATI: $1.11
Current Prices:
- HMSTR: $0.004786ย
- CATI: $0.4688
Player reactions:
- Hamster Kombat: After achieving $1.2 billion in trading volume on its launch day, the game received user complaints about inadequate airdrop rewards and called for greater transparency.
- Catizen: Players also expressed disappointment over the low $CATI airdrop rewards they received after nearly nine months of gameplay, with many claiming the allocation was unfair and inconsistent, leading to calls for greater transparency in the distribution process.
Between the lines: The mixed reactions to airdrops reveal the balancing act web3 game developers face between incentivizing players and maintaining long-term engagement. High trading volumes indicate strong interest, but small token payouts may lead to player dissatisfaction.
Worth reading: Last month, Telegram updated its policies to allow users to report illegal content in private chats following CEO Pavel Durov’s arrest in France for allegedly permitting such content on the platform, and the company noted that it may consider exiting markets where it cannot align with government regulations on privacy and security.
This article is published on BitPinas:ย Tokens HMSTR, CATI Plunge Over 50% After Launch
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