The Play2Earn Report - Week 02/2023

Wow, a lot has happened since my first Play2Earn Report of the year. First and foremost, I got a lot more comments and views than I would have imagined. The initial plan was to mostly make those weekly posts for myself to give me something to come back to when I feel like. Instead, I got a lot of friendly comments from old and new phases a like. That prompted me to write a lot more articles than I had originally intended and, at least so far, I really am enjoying myself again. I'm not sure how long I'm going to be able to keep at that rate of almost one article per day, but my hope is that I will be able to release the Play2Earn Report every week and maybe get out two to three articles covering different topics as I get to them. So to everybody reading that - thanks a lot, it's much appreciated!

Then there's obviously the big news of the week: Bitcoin is finally making moves again:

After months of mostly trading just sideways, we finally crossed the 21k mark again. So far, though, BTC wasn't able to get across the last high back from early November. I'm no technical analyst and certainly no active trader, but in my opinion, it's too early to say if there's some lasting movement or if this up will be short lived. The good thing, at least for me, is that I don't mind it either way. What I care for is that it proves that crypto is not dead yet, and that BTC is still able to make these moves. I don't think we'll see another major bull run before 2025, but if it helps to move some funds to my favorite blockchain titles then I certainly won't complain.

In terms of my holdings, I haven't done any major buyings during the week as the reward cards I'm usually buying made some moves as well and are now sitting above my bids for a bit. As with BTC, I'm not too sure if that's the last we've seen of rare reward cards for a penny, so I'm not prepared to raise my bids just yet. This also gives us a nice shot at looking at the value of my holdings purely from what the BTC uptick is causing. So here we go:

@khazbot

I really did not expect to see moves like that when I made my first article last week. Across my playing and my holding account, that's an increase in value of about $27,500. Proofs to show much we still rely on the bigger macro economy and especially on what Bitcoin is doing. We may see a higher proportional growth or decline, but as Bitcoin goes up, we go up as well. And if Bitcoin goes down, which he very likely will do, we'll go down alongside again.

To me. that also once again underlines that we really just need to survive this bear market and we will inevitably see rising values across the board again. Splinterlands to me is still in a very good position to play a huge part in that next bull run and it will all come down to fixing the economy and making the game as appealing as possible to new players before that whole new cycle starts again. The longer Bitcoin trades north of $20k and the longer this supposed (mini) bull is going to go, the better for us. With rising prices DEC will also get closer to peg, more funds will be moved, and the flywheel will get one step closer to reality.

GLX also saw a rather nice move up in price, although that as well is mostly just because of Bitcoin going up and Hive following suit. There will be a townhall next Friday for Genesis League and hopefully we'll get some good news by then. There hasn't been terribly much about the state of development in 2023 so far, but Chatter was in Discord, giving a positive outlook overall several times. We also don't really know what's happening with the GLX rewards for the pack presales. Mathematically, the first round of 7.5M GLX should be done for by now. The second round of 7.5M GLX is supposed to be given out for presale phase 2 but right now the faucet is still dripping, so it seems like we are already tapping into that second pool. While I'm always happy to receive free money, that's also a little concerning as this is in direct conflict with what was stated in the whitepaper and I really dislike projects going off whitepaper without giving proper reasoning and communicating ahead of time.

Either way, I'll keep accumulating all I can for the foreseeable future and I'm rather confident that all of this is going to pay off big eventually. That's all from me for today, I'll be back soon with another regular article. Thank you all for reading and see you next time!