Sometimes, an idea pops up — and you just feel there’s something to it. Like the simple thought: what if a game could be not just entertainment, but also a source of income? A little bit of magic, a little pragmatism — and thus, the Play-to-Earn concept was born.

At first, it felt like a Sunday market. Noisy, cheerful, full of anticipation. People joined games not just to play, but… to earn. And not just points — actual crypto. You’re sitting on your couch, tapping on the screen, and ding! Coins appear. Like in a fairy tale, where each tap is rewarded by the digital universe itself.

But as we know, not all fairy tales end the same.

It All Started So Inspiringly

Truth is, the roots of this story go back to 2017, when gamers started selling in-game items for real money. Some traded MMORPG swords, others full accounts — it all felt like an old shop where the seller knew each buyer by name.

Then came blockchain. It changed everything: added transparency, and gave players true ownership in the form of NFTs. The first games let you earn tokens by fighting or completing quests. Axie Infinity was among the first to do it beautifully and boldly. Millions of players, real profits, and that feeling — that you’re part of something big.

It felt like spring. New, full of hope. But as we know, after spring comes fall.

When the Game Turns into a Job

It soon became clear this rainbow model didn’t work for everyone. Many projects stopped feeling like games — and started feeling like work. Their economies stood on a fragile balance: they needed a constant flow of new players. When that slowed down, the structure began to wobble.

Imagine: you’re playing to earn, but money’s drying up and fun disappears somewhere after level 14. Like expecting a beach vacation and ending up in an office with a coffee machine and a flickering ceiling light.

Some games even forgot they were games. Everything revolved around earnings. The gameplay became dull, mechanics predictable. People quickly lost interest and left.

It All Began with Notcoin

To be honest, this whole Telegram craze didn’t start with hamsters.
It started with Notcoin — those little coins we “mined” by tapping the screen. Simple, fun, a mini-ritual between a cup of coffee and checking your inbox.

Notcoin was like the first spark. It launched the Telegram gaming boom — when millions of people around the world suddenly became players. It was simple, like a good meme, and that was the magic. No clutter — just you, the screen, and the feeling that you’re part of something bigger.

Then came dozens, even hundreds, of other games — similar and different. Some tried to replicate the success, others added tokenomics or made things more complex. But Notcoin was the door to this new world — where the game lived inside the messenger. No installations, no barriers.

Hamster Kombat: The Game Everyone Talked About

In spring 2024, Hamster Kombat launched on Telegram. And it seemed like it was everywhere. Friends chatted about it. Social media was filled with screenshots. Someone had already “upgraded their exchange,” someone was waiting for a token listing. And someone else — just tapping every day, hoping for a brighter crypto future.

The project reportedly reached up to 300 million users in just a few months. Incredible. People truly believed: maybe this was the game that would bring both joy and income.

But here’s the thing. The higher the balloon, the harder the fall.

The real disappointment came after the big event — the $HMSTR token listing. Players opened their wallets expecting a windfall, but found… almost nothing.
After half a year of daily taps, the average user earned just 1300 to 2000 tokens — which translated to pocket change. Not enough for a crypto dream — not even enough for a cafe dinner.

And that’s when the excitement started to fade. First — confusion. Then — frustration. And finally — silence. By November 2024, interest had dropped dramatically. Reports say Hamster Kombat lost around 250 million users in just a few months. That’s massive.

Why Did It All Go Wrong?

On the surface, the reasons are clear:

• Expectations weren’t met. People thought their tokens would be worth something. They weren’t.
• The economy wasn’t sustainable. It depended on new players. Once growth stalled — collapse followed.
• Gameplay was monotonous. Fun for 30 minutes. Then it felt like clicking a bank counter: lots of sound, no substance.
• Lack of communication. Developers stayed silent, and players felt abandoned.

It hurt — especially for those who believed, who invested their time not just for profit, but to be part of something new.

What Happened Next?

After stories like that, it’s tempting to say: we’re done here. But no. The industry is evolving. Slowly, cautiously — like someone stepping out after a heavy rain.

Developers are getting smarter. They’re focusing more on gameplay, on creating fun — not just money. You now hear terms like “transparency,” “safety,” “sustainability.” Hybrid models are emerging, where tokens are a bonus — not the goal.

But even the market seems to be catching its breath. According to FindMini.app, user activity in Telegram Mini Apps started to decline sharply in late 2024. And while the number of apps grew from 1,764 in September to 3,150 in January 2025, monthly growth slowed — from 129% in July to just 9% in December. It’s like a cake everyone rushed for at first… and then left behind a few crumbs.

And maybe that’s the important part. A game worth coming back to doesn’t need promises. It simply brings joy. Like a favorite book. A walk through familiar streets. Or a warm mug of cocoa on a November night.

What the Industry Learned

And perhaps symbolically, it was Notcoin’s creators who voiced what felt like the first honest admission of the industry’s fatigue.

In May 2025, at the Token2049 conference, Vladimir Plotvinov said:

“The tap-to-earn format on Telegram is probably dead. These games just don’t hold attention for long. Developers are now shifting toward more social, engaging formats — where the in-game economy is just a bonus, not the main goal.”

And that’s how it goes. Everything starts with lightness. And eventually, we return to it — only now, without illusions.

Final Thoughts

Play-to-Earn isn’t a failure. It’s a coming of age. With all the mistakes, the highs, and the painful lessons. The question now isn’t “Will games offer income?” but rather — Why are you playing?

If it’s for joy — that’s still possible.
If it’s just for easy money — maybe it’s time to rethink.

So for now — let’s play the good stuff. Let’s create things worth remembering. Like your first favorite game. The one you came back to, not for the tokens, but because it made you smile.

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