Hamster Combat, the Telegram game that has attracted millions of users since its launch in April, has opted to forgo funding from VCs, criticizing “liquidity exit” practices.
Specifically, it called it a “liquidity exit.”
In an announcement to community members on Tuesday, the game’s developers revealed that they have rejected all investment offers received from major Web3 venture capital firms.
The game’s admins in the official Telegram group said the following:
“Since our growth has exploded, we have received numerous investment proposals from some of the largest venture capital firms in the Web3 space. We have rejected all of these offers.”
The developers highlighted a widespread issue in the Web3 industry. That is, too many projects have been launched with the primary goal of enriching their backers, rather than creating real value for users.
Many Web3 projects build an audience only to turn it into a liquidity strategy for their venture capital backers. This has become a common practice in the industry. We strongly oppose this approach and want to bring the Web3 space back to its basic principles.”
Instead of focusing on innovative and sustainable projects, many companies in the sector prefer to attract funding, spend it on marketing, and then abandon the project, leaving users dissatisfied.
Do you think the choice made by the developers is right? Will this new crypto be successful? Let me know what you think, your idea is much appreciated
