Reasons Hamster Kombat Rejected Funding from Venture Capital
2024-08-16
Bittime - Learn why Hamster Kombat rejected venture capital funding to maintain the project's independence and ensure fair access to the HMSTR token.
Hamster Kombat Rejects Funding from Venture Capital
The developer stated that venture funds could possibly access Hamster Kombat's future HMSTR token.
The method is the same as users, by buying it on the exchange after it is issued and listed.
Some New Tokens Experience a Drop
As previously reported by CoinDesk, new tokens such as APT Aptos and SUI Network have seen a seventy percent decline since their peak in 2023.
On the other hand, bitcoin (BTC) continues to rise and reaches its highest point again in 2024.
Read Also: Michael Saylor Pushes Bitcoin Standard for Miners
Venture Capital Invests $13 Billion
In a report last June, 10x Research founder Markus Thielen said, "Venture capital funds invested $13 billion in Q1 of 2022, while the market turned into a steep bear market."
Conclusion
To maintain independence and prevent external domination, Hamster Kombat chose to refuse funding from venture capital.
Hamster Kombat developers want to ensure that access to future HMSTR tokens is fair and equal, with venture funds buying tokens on exchanges like regular users.
This decision was made amidst a significant decline in the value of several new tokens, such as APT Aptos and SUI Network.
These tokens may be an important consideration for Hamster Kombat to maintain the stability and value of their project in the long term.
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