GLX hits new bottom and the rebuild

It seems highly unlikely that we will see a resurgence in the GLX marketplace anytime soon and that's a frustrating thought. The only hope is that we will get some good news surrounding the game launch in the next town hall meeting.

Things have somewhat cooled in the GLG marketplace and the GLS ecosystem as a whole but the regular interaction with the community kind of gives investors reason to be hopeful. In any case, it is difficult to even be optimistic about anything related to crypto these days.

Things have been tough in the GLG space and it has adversely reflected on the price of GLX token. At this moment, the token has dropped even lower, trading at 0.7 of 1 cent.

At this price, I'm now swimming in the red zone and any sale for personal reasons would be taking a major hit in my investment. I'll have to play it smart with my choices and time the market, even though I'm pretty much doing a rapid-fire sale.

Frankly speaking, I'm really hurt that I'm not able to buy tokens right now. To think that only a couple of dollars is enough to buy thousands of GLX token, particularly with the APR still above 80%.

Packs and Revuild

The price of GLG packs in Hive-engine is still about $1.5 and that's a far cry from the $5 I paid for each. I've never been able to understand the mechanism behind the valuation of Splinterlands related assets on hive-engine.

Packs are technically minted in-game at $5 and a voucher but instantly sent to the secondary market to trade at a fraction of the price. It's a strange occurrence that has confused me.

If you look down history, you'll find that at launch/mint of a new Splinterlands product, the price in-game is always higher than the price in the secondary market. It creates two different value systems that counter each other.

In the case of Splinterlands packs, at least there is the potential of receiving an airdrop as an incentive to buy packs in-game. However, despite the incentive, what I've noticed, particularly with the new set of assets is that the monster you receive from the airdrop still doesn't come close to the investment in packs.

It is important to add that while the short-term price of assets often underwhelming, in a couple of years, those assets will be much more expensive. However, it won't matter if you're not a high roller.

Not unless something miraculous happens in my life, I reckon I'll be reinvesting into the game as a bottom feeder, so I will have to buy assets at the cheapest possible rate. Ill roll the dice sometimes but I'll generally refrain from buying packs.

The only way to really profit from packs is by buying in bulk quantity and opening in the same way. So, I'll just focus on cheap cards that go into my squad. This is part of the approach I will employ for both GLG and Splinterlands rebuild in the near future.

Posted Using LeoFinance Alpha