Splinterlands | 150k Staked SPS Goal Reached !
Cheap SPS
In theory at least SPS should be cheap right now assuming the game survives the bear market (which I don't doubt) looking at it from a 3-4 year time-frame. The entire dynamic that there will be some poit in time where SPS has to get burned in order to mint DEC makes it so that the price can go up without this meaning that the market cap will go up. At a maximum of 3 Billion tokens that ever will be in circulation, it means a 42 Million Market cap which is considered very small in crypto especially knowing there will be multiple products attached to it. Also a big part of the inflation toward that fully circulating Supply is given out as staking rewards.
With part of the revenue going to the DAO it also means there is some fundamental value inside of it and the Rebellion Pre-Sale sales sp far are hopeful with 250k packs sold. On top of this, staking gives vouchers and potential more airdrops in the future.
While I didn't expect the price to get much below 0.02$ which again as that is my buy zone, it's now trading around 0.014$ wich gives me some fomo actually. So I stepped it up with another 10k+ SPS buy bringing in new money into the ecosystem.
I continue to expand my goal as the price goes down as there is an actual opportunity to reach it. First I had it set at 100k which I reached a long time ago. I afterward increased it to 150k and now I will continue accumulating with a new goal of 200k Staked SPS.
While it for sure is possible for things to go down more, the lower the SPS price gets, the higher it eventually should go in the longer term as more SPS will need to get burned.
I also started to track my actual SPS earnings each week both from Staking and playing which currently brings in around 10$+ a week in case I would sell it. The aim is to keep increasing this over time.
Card Accumulation!
In the last report I delayed this a bit as HBD was trading under peg but ever since, I managed to complete my Level 3 Lili ShieldPaw Summoner and am working on my Immortalis also. For those I continue to use blogging earnings in order to finance them so those earnings stay within the ecosystem and really help a ton!
I managed to get 4 extra Lily ShieldPaw Cards at the average price of 8.975$
I also leveled up my Epic Forgotten One from Level 2 to Level 5 as it's one of those cards I kept losing against whenever there is the poisoned game rule paying 12.5 Dollar for that.
Finally now, I'm patiently waiting for the Immortalis to be dumped for 10.5$ or below that picking 2 of those up with 2 more to go in order to get it to level 3 also.
There are still some more cards that I need to get to have a near-complete Chaos Legion Gold Set of cards. It is frustrating to see how cards continue to lose value but at some point this should turn around even though I'm not expecting crazy prices similar to the last cycle. I do enjoy playing the game and actually see them more as an expense instead of an investment given the opportunity cost (other assets should go up more)
DEC Accumulation
DEC right now is much closer to peg and I stopped actively buying it. I did get some cashback from monstermarket.io which I added to my stack with an eye on Land 1.5. This now puts me above 103k DEC saved up and I will be looking to put some time again in potentially getting some cards rented out as I have been totally neglecting that.
Conclusion
For me, Splinterlands is still in the accumulation zone which is what I continue doing having good faith in Matt and the team to turn the ship around at some point in time. If things go lower I will for sure buy more with no direct intention to sell anything.Play2Earn Games I'm Playing...
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Congrats! I haven't purchased anymore but I just hit 150k yesterday too. I am tapped out on my Splinterlands spending. I've been spending nonstep for 2.5 years. We're probably finally bottoming out but I can't justify another dime at this point. I'm sitting out rebellion too.
These are the most difficult times after a non-stop decline in asset values. This is my 2nd cycle in Splinterlands and it happened before where earnings were minimal. Last time that turned out in a gold mine. I'm still hoping for another adoption wave which likely will have a smaller impact compared to the last one.
Its so hard to imagine anything actually coming back at this point but I know this is how it always is when things are at their lowest. I know I'm also sitting here right now thinking I'm selling everything if it pops again, but if we're fortunate enough to see it happen, it will be almost impossible to do since it will feel like we're on the verge of something huge.
If we're going to get something as impactful as we had before, we're going to need more systems in place that respect older assets in gameplay and we'll need to clear out at least half of the cards with a Chaos Legion border. But if Matt takes those things seriously, we could see it again. I hope they put energy into that stuff instead of land surfing, which is going to be a flop.
Congrats on your 150k SPS achievement and I am coming from behind with a little bit over 110k SPS staked. In the long run I believe SPS should be the most valued token in the Splinterlands ecosystem, but we need some token mechanics to kick in to improve the price and value it holds.
I also see SPS as most likely the best play for the ecosystem. Either it goes up in value or Splinterlands goes belly up imo. Good luck adding to your stack!