GLG marketplace has very low liquidity and that's okay
It has been almost two weeks since I put my GLG assets for sale but up until today, I have only recorded $1.9 worth of sales. This has been a very disappointing turnout but it is understandable.
The 24-hour trading activity typically hovers between $50-300 and I think that's fair value considering most of the assets being traded are technically useless.
The launch of the game will inevitably lead to increased demand for cards and packs, as well but until then, we will have to accept this amount of daily trading activity. It is far from ideal but it is what we have and what we have to work with.
At the time of writing, each GLG pack costs around $2.1; a dramatic drop from the original purchasing price of $5 and a GLGT. It is rather fascinating to note that the price of packs actually dropped instead of moving the other way.
Packs enable you to earn GLX token from staking at a decent rate. The passive income from staking packs will compensate for the value you lose when they hit the secondary market.
Opening packs, on the other hand, offers very little value when you consider the languid pace of trading activities in the NFT marketplace. This realisation now leads to questioning my decision to open packs in the first place.
Hodl vs Staking
The major reason behind opening all those packs was the increased chance of finding a gold foil. At the time of writing, I have 52 Gold foils in my collection but there's but it does seem like there's barely any short-term demand for the assets.
The likely scenario is that in the long run, most of the gold foils in my collection will more than make up for the short-term discomfort they've caused. However, this is something I really should have considered before opening packs because of my short-term needs.
I was hoping that there would be more demand for Gold foils and I could even cross over to the Green side of the chart if I made a small number of sales. Sadly, that hasn't been the case, and for now, I'm stuck holding these assets until the game is launched.
The Townhall meeting scheduled for tomorrow will most likely give us a precise launch date or at least nudge us in that direction. This news could in turn have a positive impact on the demand for NFTs, and hopefully, gold foils leading the way.
Posted Using LeoFinance Alpha
I guess the market will revive after the launch of the game.
The only thing I don't understand, why do the people sell packs so cheap before game launch???
I tried to count it, but whatever calculation I made, it still ends in a huge loss, far even from breakeven. Of course, I don't complain. It's bargain and I'm sure it pays off within few months, but still don't get it. Do they know something what I don't??? Nobody could explain. Any idea???
It is one of the mysteries of SPlinterlands
maybe it can be near to breakeven, if I count, they bought a lot of packs with 20% discount, that's 4$ and they staked the packs, and sold all the rewarded glx.
or counting in the Hive price changes.
must be some logical reason, explanation behind that, as not only few guys sold a lot of packs for $2-2,5.
I see there is a demand for gold foil cards. (not much, before game launch, but there is) Just today, the 24h volume is around $1K and around 110 sales made, that means average price is around $9.
How I see, people are mostly buying up the cheap regular ($0.25) cards and the most expensive gold foil cards (best players, coaches). I do the same, next to selling plenty. There are plenty cards what are probably under (and over) valued. Some guys even buying up the cheapest gold foil cards.
How can you tell which cards are better than others?
Actually you can't tell 100%, as we don't know the full gameplay. However, you can assume it.
The goalkeepers case is the most obvious, only passing and blocking (saving) stats they have. Probably the blocking is much more important than passing.
The rest of the players, I add the cards' stats together, and weight with those numbers what are probably position specific. I don't sell anything for cheap over 45 overall stat, and hold most of my cards over 50, especially the ones which have position specific 9,10 ratings.
Few cards are doubtful, for example there are 101010 defensive or offensive stat cards with very bad opposite numbers. Those are the questionable ones for me, as those value is really depending on the actual gameplay.
Regarding coach cards, you can't tell, but I don't think there will be big differences, probably some cards fit better for given player cards.
At least, that's how I think. And how I see, I am not alone.
I could sell plenty cards supposedly as overpriced, and bought 50+ for cheap. I assume buying gold foil attackers with 10 shooting stat (and overall over 45 stat number) for $3-4 is bargain, very cheap. Also regular goalkeepers with 10 blocking stat under $1.
We will see in 2 weeks.
there is a good basic valuation of stats by ijat, i am thinking similarly, a bit more complex:
https://peakd.com/gls/@ijat/beginner-deck-building-in-genesis-league-goals
His post gives the explanation of gold foil cards demand before game lunch, too. Most of the players won't have 3-10 gold foil cards from 1 given card. So they have to sell some and buy the ones they want to level up by combining. And in the last 1 month you could easily found very cheap (gold foil) cards.
Personally, I am curious, how will be the combining, after you get XP with a card or put some in staking.