GLG NFT marketplace launches
Things are slowly taking shape in Genesis League Sports platform as we edge towards the launch of the first of man sports-themed NFT games. The first of the lot is Genesis League Goals, a football(read soccer) themed game that is set to launch in a few weeks.
Prior to the launch, we started seeing different parts of the game hit the spotlight. Initially, we got GLX token to stake, then packs came around, validator nodes followed that and now, we can open packs.
Naturally, NFTs need a marketplace to trade them and about 24 hours ago, we got information that the marketplace has finally been launched. This means that owners of different cards can place them for sale in a marketplace and also buy cards if they so desire.
According to information in the Genesis League Sports discord prompt, you will be able to pay for cards using both GLUSD and Credit. When you pay with credit, it gets burned and the seller receives the GLUSD equivalent of what the asset is worth.
The trading mechanics is basically like Splinterlands, so it is pretty easy to understand. At the time of writing, there are already over 600 cards listed for sale in the marketplace, with prices varying from 50 cents to $2000.
The price of listed assets in the marketplace seems a bit random if you ask me. I don't know the basis of certain assets being valued so highly and others, not so much but we know for sure that gold foils are valued higher than their normal foiled counterparts, as expected.
Perhaps I am trying too hard to make some sense of the situation too early. It would be wiser to give it some time before deciphering anything from the pricing of assets in the marketplace.
One thing we know fundamentally is that the owner of an NFT decides the value of that asset and this is all we use as a basis to assume the market value of the said asset. In reality, there is no actual value and it is all based on perception.
When Splinterlands-type assets are concerned, perception is an important price decider but the rarity and qualities of the asset in-game also play a major role. So, in essence, we will know better about the actual value of these cards when the game launches, as I think that will be the major decider.
In any case, it is fair to speculate and I have been doing a lot of that while dreaming. I put a couple of my cards on the market, hoping for a nibble and it would do me a world of good if any actually get bought.
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