Splinterlands | SPT Token Update (Splintertalk.io)

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I have been interested in the SPT token from Splinterlands which is used on Splintertalk.io first making a post about it now over years ago on the 25th of September 2020 (Link). This is another update post since last time I covered it 3+ months ago (Link)

SPT New Use Case Coming?

In the past couple reports I made on the SPT Splintertalk token I kind of went about it as it it was kind of dead with no further use case in sight aside from the curation on Splintertalk.io which at least gives it some value and a total market cap that dropped to 32k Dollars. This by now almost doubled to 60k after a potential new use case was semi-announced in some of the Town Halls.

From what I understand, there will be some new guild building and instead of burning DEC into them, a mechanic where in-game assets need to be staked (so they are not lost) levels up the buildings. There was talk about staking card packs (so less of them get opened reducting the card inflation) and also SPT which would make the demand increase giving more incentives for players to blog about the game as SPT can actually be put to use aside from potentially earning more SPT.

This feature however is not implemented yet so there could be a further increase of the price even though I doubt it will ever reach it's 0.016$ highs again also because the inflation remains very high

The daily chart saw a crazy candle spike I assume on the day when it was mentioned in the town hall as there is little liquidity. Things came down a lot again however to the point where the price is close to double to what it was 3+ months ago when there was no signs of an extra use case.

SPT Market Caps & Inflation

This is the overall evolution of SPT so far since I started tracking it.

DatePriceMarket CapSupply
10/02/20210.000280$ (-)19,318 $68,905,727 SPT
22/04/20210.000310$ (+10.7%)23,123 $75,621,474 SPT (+9.74%)
04/08/20210.006190$ (+2000%)460,895 $85,561,680 SPT (+13.14%)
05/09/20210.015930$ (+257%)1,425,000 $89,454,000 SPT (+4.55%)
18/02/20220.003110$ (-80.5%)387,350 $124,550,000 SPT (+39.2%)
28/07/20220.001000$ (-67.8%)152,244 $153,782,658 SPT (+23.5%)
11/02/20230.000168$ (-83.2%)32,183 $191,566,068 SPT (+24.6%)
19/05/20230.000283$ (+68.6%)60,410 $213,239,755 SPT (+11.3%)

So the price right now is about the same as it was 2+ years ago when I started tracking and when I accumulated most of by bag, yet the market cap is 3x as high due to the really high inflation which is where the returns came from. Right now, it's quite crazy to see that the market cap of SPT was well over 1 Million at some point.

Personal Approach

My approach since forever has been to keep the 2M SPT I own staked and delegated to @monster-curator for passive curation returns. This is after I took some profit way back when the token pumped (see older posts). So regardless what happens with SPT, it has been a good investment for me even though I could theoretically have dumped the top and have gotten way more out of it.

I keep getting roughly 1000 SPT daily as part of the @monster-curator curation rewards which is just 0.28$ and right now I just continue to accumulate them with an eye to possibly help out my guild once the SPT staking feature goes live. If I had spare funds I maybe would look to start buying some at the current price but at the same time, I'm already overinvested in Splinterlands with many ofter coins to accumulate that are higher on my list.

Conclusion

Its nice to see some movement again in SPT since there is talk about it getting another use case in the Splinterlands ecosystem. I do believe it potentially makes it attractive again as the high inflation is offset by the curation rewards while potentially the demand will go up as the new use-case is in place. The next update will likely be after this all happens.

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It sounds like SPT is more of a distant goal but I was glad to see that they remember it exists at least. I think 2 million is a pretty solid place to be. I'm trying to get to 500k.

We really need a guild building that you can just burn anything in from SPT to validator node licenses. Everything gives you a certain amount of points. The points could be adjusted based on ongoing market value and we could have certain assets get bonuses each month. Like this week, SPS gets double points and next week gold common cards give bonus rewards.

I think people would lose their minds here but I think the rewards for having the building with the most burn points should be +25% r-shares. Then at the bottom or if you have no guild it would drop to -25% rshares. Then everyone else would be in the middle of that spread based on where they rank. In a way it would be a way to burn old assets for a chance at new ones. I think a lot of SPT would get torched in the beginning.

OK, not I guess I need to go write a post about this. !LOL
!WINE

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The main issue with the entire burn or stake to get more rewards is that it only makes sense when you expect to get more back compared to what you put in. In that regard, the only real factor to 'save the economy' is for more new players to come in which isn't happening at the moment. All this focus on getting DEC to peg kind of crushed the SPS price which isn't helping that.

In a perfect world, Splinterlands would be a game that players just love and want to sink money into knowing they can potentially get some back the day they want to move on. In reality though, they are just falling short on that also because the new player experience is still just bad and most mainly care about earning. The tricky part of it all is that price going up (higher earnings) drives adoption and not the other way around where adoption pushes the price up. In that regard I fear it all just comes down to having a real new crypto bull run across the board. It's nice that they keep building and are surviving the bear market but all these measures don't really seem to do that much right now. Looks like 1000 DEC is back down to 0.76$

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Yeah, I'm just up for anything that encourages people to burn some of these assets because as of now, it would take a massive influx in players to make any type of difference.

But honestly at this point, anything that penalizes players should be scrapped (including my idea). I think the changes they've been making are really good for the economy but the onslaught of them is getting fatiguing and I don't think a lot of the player base understands the good they'll do. For those just trying to play the game, its just more and more getting in the way

And you're right, it needs to be more about fun. I was really excited by weird beard getting this new position but he just seems overwhelmed with all the stuff. His whole thing was making the game fun and I'm really hoping once we get land 1.5 out he can/remembers to pivot back to that.

I do think we can have it both ways. I think we can add fun things to the game that require asset burns. I'm excited for what the battle pass could bring, if we ever get it.
!WINE

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