HoldCoin: Can It Outshine Hamster Kombat in the Play-to-Earn Space on Telegram?

The "play-to-earn" (P2E) craze shows no signs of slowing down, particularly within the Telegram Open Network (TON) ecosystem.

Easy-to-play, yet addictive games like PixelTap by Pixelverse and Catizen have exploded in popularity, attracting millions of users eager to earn cryptocurrency through simple gameplay mechanics.

HoldCoin, a recent arrival on the scene, is aiming to grab a piece of the P2E pie.

Inspired by the infamous quote from Binance's Ex-CEO CZ, "If you can't hold, you won't be rich," challenges players to test their grip strength (well, virtually at least), ditching the tapping mechanic seen in Hamster Kombat and Notcoin for a test of pure endurance.

This is consistent across their Telegram and X accounts, as seen in their first post.

This is what was posted:

Hold On for Dear Life: The Gameplay Explained

Unlike its click-happy competitors, HoldCoin takes a different approach.

Forget frantic tapping – here, success hinges on your ability to HOLD. Players engage in a battle of endurance, holding down a single button for as long as possible.

The longer you hold, the more $HOLD, the in-game currency, fills your virtual wallet.

This "hold" mechanic cleverly ties into the cryptocurrency world's core concept – holding onto your assets for long-term gains.

The game rewards perseverance.

As your hold time increases, your earnings climb, allowing you to level up and explore new areas. It's a simple yet addictive test of patience and stamina.

How to Hold Your Own in HoldCoin

The gameplay is refreshingly simple.

• Connect to HoldCoin: The journey begins by connecting your Telegram account to the HoldCoin bot (t.me/theHoldCoinBot).

• Grip of Greed: Players hold down a designated "hold" button. The longer the hold, the greater the accumulation of $HOLD.

Click and hold on to the ‘hold’ button

• Level Up and Explore: As the virtual vault overflows with $HOLD, players level up, unlocking new areas within the game and expanding their earnings potential.

• Hold Strong, Reap Rewards: Patience and persistence are rewarded in HoldCoin. The longer a player can maintain their grip, the higher their earnings and progression within the game

• Boosting Your Earnings: The "Boost and Earn" section offers ways to increase your earning potential.

The ‘boost’ feature is similar to the one seen on Notcoin’s tapping game.

• Mining for Profits: The "Mine" section allows you to collect cards, further boosting your hourly $HOLD earnings.

Diamonds Are a Player's Best Friend

HoldCoin recently introduced the "Diamond Reclaim" mode, adding a layer of complexity and competition.

This Player-versus-Environment (PvE) mode lets you reclaim stolen diamonds, directly impacting your airdrop rewards (more on that later).

Diamonds can be obtained through gameplay or by watching official videos – a strategy similar to Hamster Kombat's quest system.

The answer for 30-31 July is XRP.

This mode introduces a "pay-to-win" element, as players can use $HOLD to purchase additional attempts at reclaiming diamonds.

Here's a summary of how it works:

• Diamonds are Forever (But Not Guaranteed): Each attempt at Diamond Reclaim is a gamble. Players might walk away empty-handed, or they could potentially score a massive diamond reward.

• To Buy or Not to Buy? The Power of $HOLD: The choice is yours. Players can dedicate their hard-earned $HOLD to purchase additional attempts at Diamond Reclaim, or they can choose a more frugal route, watching official videos to earn free attempts.

• Justice Served (with a Speed Boost): Another update addressed a crucial concern – the wait times associated with catching diamond thieves. Now, players can leverage their collected coins to unlock these wait times, ensuring swift justice is served.

Explosive Growth, Explosive Questions

While the game itself seems straightforward, a closer look reveals a curious mix of explosive growth and potential red flags.

HoldCoin boasts a sizeable following across platforms. Their Telegram channel, created on 18 May 2024, boasts nearly 2.7 million subscribers in just 2.5 months.

Telegram channel’s statistic summary (Source: TGStat)

However, their X account, established in June 2022, seems a bit fishy.

With a creation date far predating the actual game and a first post in May 2024, it raises suspicions of a purchased account.

This tactic of inflating follower numbers is a common ploy by startups to create an illusion of strong support and attract more players.

The location of the project also adds to the mystery.

While their Youtube channel, established on 15 July 2024, is set in Hong Kong, their Telegram groups lack any significant presence in Cantonese or Mandarin, the languages dominant in that region.

Another red flag is using a free gmail domain email, instead of a company registered domain.

The YouTube location is set to Hong Kong, and the official email uses a Gmail domain.

There is no Mandarin chat for the Chinese market, even though “located” in Hong Kong

So where exactly is this project headquartered or where are the founding members from?

Who's Behind the Hold?

One of HoldCoin's biggest mysteries is the anonymity of its development team.

With no information available about the creators, it's difficult to assess their experience or track record.

Is this project trustable?

This lack of transparency and reliable sources can be a major turn-off for potential players wary of scams.

The Allure of the Airdrop: A Sweet Reward or a Mirage?

HoldCoin has introduced various incentives to keep players engaged, including airdrops that reward users with additional $HOLD and other in-game assets.

The recent X update, that was mentioned earlier, announced the launch of the Diamond Reclaim mode, where players can compete for diamond rewards.

These incentives aim to enhance player retention and create a dynamic gaming experience.

Diamonds are now crucial in HoldCoin, directly affecting your airdrop rewards!

Though HoldCoin promises an airdrop, distributing free tokens to early adopters, such initiatives can be a legitimate way to attract users.

However, they can also serve as red flags, potentially indicating a scam project.

Without details about the token's value and utility, it's tough to gauge the airdrop's true worth.

HoldCoin vs. Hamster Kombat

With its recent launch and focus on holding, HoldCoin undoubtedly positions itself as a competitor to the established "play-to-earn" giant, Hamster Kombat.

Telegram CEO Pavel Durov hails Hamster Kombat as the fastest-growing mini app, attracting over 4 million new users daily.

Whether HoldCoin can surpass Hamster Kombat's success remains to be seen.

However, the project's rapid growth, inconsistencies, and lack of transparency raise serious concerns about its legitimacy.

So, Should You Hold Onto HoldCoin?

This one requires careful consideration. The gameplay is simple and potentially addictive, but the lack of team transparency and the questionable airdrop are significant drawbacks.

Furthermore, the game runs on a lot of advertisements that allows players to earn more.

Before diving in, it's wise to do your research and monitor HoldCoin's development to see if it can address these concerns and carve out a niche in the "hold-to-earn" space.

As the play-to-earn craze surges on Telegram, it's no surprise that rugpull projects are emerging to capitalise on the hype, much like what happened with NFTs during their peak and with memecoins.

Remember, if it seems too good to be true, it probably is.