The desire to earn money through simple actions has always been a temptation for many, but it often leads to disappointment. The recent Hamster Kombat airdrop has left many users disheartened, adding to the long list of failed attempts at earning money for daily activities. As we reflect on past experiences in the crypto community, it begs the question: is there a sustainable future for making money through daily actions?
Early Appearance: Hope for Stable Earnings
The emergence of web3 games introduced a new avenue for earning cryptocurrency through play-to-earn (P2E) games. Axie Infinity, a pioneer in this space, allowed users to earn tokens by completing tasks, battling other players, and progressing in the game. However, the game was plagued by in-game inflation, leading to a decline in its user base and profitability. The collapse of Axie Infinity serves as a cautionary tale for the pitfalls of relying on such platforms for sustainable income.
Healthy Habits Replace Gaming, but Not for Long
As P2E games faced challenges, move-to-earn mechanics like STEPN entered the scene. While early players of STEPN were able to make profits, the influx of users and questionable mechanics hinted at a potential collapse. The project’s reliance on new users to sustain its economy ultimately led to a significant decrease in monthly active users and token value.
Mechanics Become Simpler
Tap-to-earn games, exemplified by Hamster Kombat, made earning money even easier for users. However, the project’s lack of long-term value proposition and heavy reliance on referral mechanics resulted in a rapid decline in user interest and token value. The project’s downfall underscores the importance of sustainable tokenomics and user engagement in the success of such ventures.
Will the Community Learn from Past Failures?
Industry experts highlight the challenges faced by blockchain games in reaching mass distribution channels. Despite setbacks, the growing popularity of web3 games may incentivize mainstream developers to invest in the industry. While some see these games as catalysts for crypto adoption, others caution against the risks associated with unsustainable earning models.
Is There Any Hope for Making Money?
While some players have successfully withdrawn in-game currency, the sustainability of earning real money through web3 games remains uncertain. Projects with earning mechanics often rely on a constant influx of new users, leading to a pyramid-like structure that eventually collapses. The future of such projects hinges on implementing robust business models that prioritize long-term sustainability over short-term gains.
In conclusion, while the allure of easy money in web3 games is undeniable, the industry’s history is rife with examples of rapid rises and falls. As the sector evolves, the key to success lies in developing sustainable earning models that prioritize user engagement and value creation. Only time will tell if the future holds promise for earning money through daily actions in the crypto space.