Midnight Thoughts About Chaos Legion...
I was poking around some of the 'other' social media projects in crypto and one of the more popular topics on them is always...Splinterlands.
An individual brought up some concerns about the project and I obviously gave the article a good read through and wanted to share with you guys some of the concerns he brought up and situations that may or may not arise here on the game.
As we know, crypto as a whole is kind of bearish. Markets are kind of sliding and there is once again the feeling that we may be entering a bear market. Personally, I could care less, I'm more interested in accumulation. And with this 'bearish' market, it's making me pretty excited to see some of the Gold Foil Legendary cards here in Splinterlands drop in price.
That being said, the biggest drop are the new rewards cards and of course, Chaos Legion!
I'm all for it, but I think the prices will drop even further...
Here's why:
Investor in Splinterlands have been buying packs and holding onto them. We're about a month away from the general sale which may or may not pick up the speed at which these packs are bought.
I dunno...
Is the Splinterlands team happy with the pace of the sales? 1.1 million packs is nothing to shake a stick at, but do you think they expected to be further in their target?
15 million packs is a HUGE amount considering how many packs even existed before Chaos Legion...Did the team over estimate the demand for them? Only they can answer that because I'm not smart enough to make that call lol
Personally, I'm again, all for the lower prices of the Gold Foil Legendaries and I plan to give it another few months to see where the prices are...I do feel that they will continue to slide as more and more cards are revealed so there should be some buying opportunities down the road for sure.
Is this just because we're in a bearish market right now across the board?
It's frustrating to me to see how other games which have a fraction of the players that Splinterlands does, continue to be added to major exchanges and pump...Meanwhile SPS seems to keep going lower.
Again, I have no idea how or why that happens, I've never claimed to be the expert in this stuff...
I just want to see Splinterlands get it's much deserved props and shine for the rest of the industry to see!
What are your thoughts about this?
Chaos Legion going as well as you hoped?
Are you excited about the buying opportunities that are popping up?
Holding packs, opening packs, buying packs?
It's been well over a week now since Chaos launched....What are your feelings on the state of the game?
Why SPS is still not on major exchanges is also a mystery to me... maybe a liquidity issue? I do think prices of CL will drop a lot, with the increased supply, which is awesome: I want to keep stacking cards! 😉
It's crazy...The most users, the highest activity...It's like they are purposely ignoring it.
Exactly. Well... let's keep stacking, some they they will wake up! ;) Merry Christmas!
From the moment that SPS was introduced, SL exploded and with it all the assets in the game. I was sure that the introduction of new packs would change things and I think that they are doing a great job by slowing it down with vouchers. I believe that a lot of the new players are disapointed by the card value of chaos packs but I think it's pretty normal to see prices go down until we reach a pack value close to the value of what it is sold for. We are still at around 6.9$ value per pack. I think it will still go down until we reach something like 4$ value per pack once general sale will start. From then on I think we will slowly assist to an increase in prices.
Yeah I think prices will continue to go down until the packs are sold out...Then the FOMO starts lol
I think many are waiting for the general sale... Which may or may not be a winning strategy.
I mean, that's what I'm waiting on for sure for my biggest purchase of packs too lol.
I believe Splinterlands is still a very solid Play2Earn game. From the investing standpoint, as more packs are opened, more cards will be added to the market driving prices downward. I belive this will drive all prices down not just chaos legion cards. This will present a buying opportunity as you stated. A pump may occur when the SPS player staking and the other plans for SPS materilize. Until then I will just play and earn from ranked matches and daily and season end rewards.
Man, I can't WAIT for player staking!!!
The supply shock of the Chaos Legion release has hit far harder than I expected. Only about 650k packs have been opened so far and prices have plummeted. I was down over 50% on my GF Legendaries. Imagine another 14 million packs being released and assume 7 million are opened in Q1 2022. The game would need to scale up another 10x to keep prices rising.
The economic “mistake” made with the CL launch is that the game grew 10x so the devs figured they should increase cards in circulation by 10x, but all that will do is bring the prices of cards crashing down to what they were originally before this massive growth. The challenge now is ensuring the game continues growing at breakneck speed to increase the demand side of the equation.
Personally, I’ll probably scoop up dirt cheap GF Legendaries after the general sale pushes prices even lower, and I’ll hope that the game continues growing in popularity and we get another run up in prices as cards become more scarce later in 2022. The devs probably should have released only a couple millions packs total for Chaos Legion to maintain the supply/demand curve where it’s at or stagger the release so as not to flood the market… which will happen next month.
Yeah we'll see after the general sale, but I tend to think 15 million packs was way too much. Sure if we had them launch at the peak of the excitement, but because Chaos launched months after Untamed sold out and then the amount of the packs out there and will continue to be out there....I think you are right.
This game need to continue to explode!
15 million is a little too optimistic and it will take a while for all those packs and cards to get absorbed. I guess there is no end-date for the sale so CL should be the last card set for a while till the land expansion and beyond. I like what they're doing with the promoting on social media and all.
I think they wanted to target one new series a year. Kinda like a new Madden game every year LOLOL