Haste Arcade has introduced a flurry of changes to start 2023 in an attempt to onboard more users into the platform. A teaser article was written explaining the high-level changes in January, and on April 17, 2023, the first of these updates was deployed.
The most impactful change was the introduction of Haste Credits. Now users must first purchase these credits in order to play games, akin to a traditional arcade (ex. Chuck E. Cheese). Of course, Bitcoin SV (BSV) can still be used to purchase Haste Credits along with other digital currencies, with more methods to come, such as credit or debit cards. One credit equals 1 cent, and this pricing structure appropriately aligns with the current leaderboard tiers. The move is intended to simplify the experience for new users without them worrying or caring about obtaining BSV or its volatile price.
Alongside this change, Haste announced upgrades to the referral program. Now referrers will earn up to $25 of Haste Credits for their referral’s first deposit into the arcade. Haste also introduces deposit matching up to $100 on the initial deposit to encourage more plays. These structures are common in traditional gaming structures such as Bovada, and Haste hopes these attract more users and spends in the arcade as a result.
The last but most important of these “Phase 1 changes” are Haste’s assertion of their loyalty token HST as the key to their ecosystem. Instead of just earning HST rewards from a daily distribution based on daily pro-rated spending, if they have a spot on the leaderboard, they will now earn from each play by other players. Interestingly, players may be able to earn HST based on other metrics, such as how well they play the games moving forward.
The company acknowledges this decision is likely a “blessing in disguise” as they consider HST a “clear winner” compared to their previous attempt to integrate USDC before Circle’s unilateral termination of HandCash’s contracts. The company emphasizes that HST can be used to redeem gift cards, prizes, and non-fungible tokens (NFTs) on the platform. This move is another towards eliminating the “crypto” concept from the arcade in hopes of normalizing the experience for potential users.
Haste also introduces their own native AMM and liquidity pool for HST, which token holders can contribute to and earn a cut of trades via their HandCash wallet.
As one of the top users and early adopters of the arcade, I believe these changes to be overall positive. Focusing on increasing the value of HST is a solid strategy that aligns the platform’s incentives with its players, developers, and promoters. Ironically, while trying to move away from “crypto,” this move may still attract those users if the price of HST appreciates and ends up listed on exchanges, which the company acknowledges.
However, some negative aspects arrive in the short-term such as the removal of the unique dopamine-satisfying aspect of HandCash payment notifications. Since players no longer earn BSV, they no longer receive these notifications with money inside them. However, other items on the roadmap can address this, such as implementing a full PWA with push notifications.
The referral changes and deposit matching should encourage more plays and reduce confusion for more players, which in theory, will improve the platform’s value and, thus, the token. I look forward to the remaining changes the team will implement later this year.
Haste: How BSV takes online games to the next level
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
