My monthly splinterlands haul and staying bullish on Chaos Legion
There is one thing the Splinterlands team has hit the home run with: naming the new pack. Chaos Legion. It has indeed spewed chaos all over the Splinterlands realm. I enjoy all the tweets where people are still debating if this pack is broken or not. The truth of the matter is, broken or not, it is changing the game as we know it.
At the moment of writing this post, there are still above 8 million Chaos Legion packs remaining. That means at least 8 more airdrops. The latest airdrop, Grum Flameblade, has set a level of expectation for the other airdrops for me. As of now, I feel the Iza The Fanged is going to become one of the most sought after Legendary cards.
I feel that the market is responding pretty well to the new influx of cards factoring in the stagnant amount of transactions and battles. The number of new players has slowed down and the token prices are feeling the pull of gravity. At the launch of Chaos Legion, we came across loud negative feedback from parts of the community leading to lesser players and the market taking a beating along with it. That paired with the changes to rewards of the lower ranks.
As much as I respect that feedback, I still think this drastic change to the game, both in the number of cards and the number of abilities of each card is a good step towards the growth of the game. It is about time the game has more options and more chances to diversify your strategy. I think this is what Dice was missing and why it wasn't as big as the other packs.
Since the announcement of Chaos Legion I have tried pushing myself to accumulate as much collection power as I can. It has been around a month now and I cannot shake off the fact that the market is undervaluing the cards by a lot.
This creates a giant playing field for smaller collectors like myself.
Over the years, the Splinterlands game has become much more than a simple battling and trading game. The NFTs now have so much more value attached to them and the price tags are sometimes very detached from their value.
I believe the current state of the market is an attempt to figure out the current meta of the game. Come to the end of pack sales, the meta will again shift to something more concrete. I would like to consider the current phase as something similar to "pre-season". A phase where players of each rank and level try out different builds and strategies to see what works best.
In this current stage, there is roughly any room for the market to pin down the prices of most of the cards since there is so much trial and tribulation happening. There has to be an affordable and swift movement of cards within the marketplace to allow the game to figure out what works best.
I strongly believe that the Diamond leagues and above will eventually decide how the market pans out. The meta for lower ranks will be much different than they will be for the higher ranks. It will still be left to the larger collectors to shape the demand for specific cards which will, in turn, dictate the meta and so the prices.
My prediction is that the game will crawl its way towards a high damage output tank meta. I could be proven otherwise. The next few airdrops will give a more defined presentation upon which I could change my prediction. But so far, it looks like a high damage output tank meta. The fact that there are more "negate-type" abilities makes me believe so. Also, the Tank Killer ability is a strong indication.
Whatever the case, there are certain cards that are very affordable right now. Call it dumping or a result of the discovery phase. Even the cards that do not meet expectations or do not match the playstyle of many players are still being sold in the market for a much lower rate than they should be at. If you go into any marketplace, monstermarket, peakmonster, or the market within splinterlands, you'll notice that there are gold foil cards next to beta reward and common foil Chaos Legion cards.
It has been a very long time since I have seen a gold foil card going for just above a dollar.
I am super bullish on Chaos Legion. I do not have much to inject into the market but I have enough to spare on a few gold foils that are highly undervalued. I think this is the right time for smaller investors to acquire a very healthy chunk of collection power for very cheap. If you need any more convincing then remember Gold Foils are highly sought after collectibles, they have higher collection power, they will almost always rise in price and they also give a higher percentage on rent.
Likewise, the Legendary cards are highly underpriced right now. And they will dip even further. Unless they are very apparently a "good" card. Like Queen Mycelia for example. An average mana card with high utility from the Earth splinter where magic is very strong.
I have picked up at least one of each Chaos Legendary whenever I could. I hope to continue doing so. Yes, I have bought cards at a very high price, too. But that was because I had no clue what was about to come. For example, I bought Oshanus for $44. Do I regret it? Of course! The more I spend on one card in a bearish trend, the higher my chances become of missing out on other cards.
In the larger scheme of things, I think it is best to keep collecting whenever it feels right. I expect the cards, especially legendary cards, to keep fluctuating lower until the sales and airdrops end. It is inevitable that the cards will shoot right back up after so it is still a very good time for smaller collectors to get in on this just as much as the mid and larger collectors.
I expect to see a lot more activity when the current state of the crypto market starts moving upwards. There'll be more freedom for the investors to diverge from the market and get into in-game tokens and cards. But once the packs are sold out and the meta begins shaping itself, this golden opportunity of accumulating collection power for such a cheap price may be long gone.