Happy New Year! Building positions and broadening the offering

Greetings from The Legendary Canary!

As 2020 draws to a close, this past season saw the Legendary Canary build out positions in existing cards and broaden the offering to regular cards.

Aside from the usual acquisitions of cards I do not yet have a position in, I have been taking advantage of the @peakmonsters bid system to provide some buy-side liquidity in specific cards I wanted to expand positions in. While using the rarity bid feature was also an option, I already have adequate positions in most of the cheapest cards at each rarity that I am interested in. My guess is that using rarity bids would simply cause me to be overweighted in cards that I was not interested in building a bigger position in.

However, the alternative is time consuming and requires a lot of detailed work to determine exactly how much liquidity I want to provide and at what price that might tempt a seller to move. Because these markets are so illiquid, I suspect most people don't have the patience to do the detailed work. We are dealing with trades that take potentially several weeks to move perhaps a handful of cards in total volumes of $10 or less. I find this kind of fun, like playing low-stakes poker with a hand that takes a whole week to play. If this were only playing in one 'market' (i.e., one card), it would be a terrible waste of time. But across many different cards, sometimes big wins (i.e., big discounts from my perspective) can happen. It's not for everyone!

We are dealing in small $ terms, but the discounts that sellers are willing to put up with can be quite steep, as I have personally experienced for myself as sellers have put cards to market below my own bid price (sometimes substantially so). I know that others have reported similar experiences. Similarly, sometimes I have come across card sets mispriced at a steep discount. These offers don't stay up for long before they get snapped up!!

So far the Legendary Canary has focused almost exclusively on gold foil cards. But earlier this season I acquired a set of untamed regular legendary summoners because the opportunity seemed ripe for the taking. Indeed, with the exception of Mimosa Nightshade, all the summoners were rented out within two or three days (Mimosa took about a week to find a renter) at rates that are for me perfectly acceptable.

It is tempting to go back and extend my positions in these summoners, or to add some more 'big hitters' like them. They certainly are a welcome boost to my daily income. However, I dislike the big swings in revenue that come as a result. In theory, I would prefer 1,000 different players renting 1,000 cards for $0.001 each, rather than 1 player renting 1 card for $1 each a day. In practice, my perception is that the real world Splinterlands rental 'player base' is a only a small subset of the overall player base. And out of this subset, a handful of players are willing to spend big on the heavy hitters (mostly tournament players), while the rest are only willing to spend fractions of a penny at a time. There is I believe an emerging 'middle class' (which for now I broadly define without much justification as folks who are willing to put in anything from 10c-$1 a day to build out a rental deck), which I think broadly reflects the state of the game overall.

The regular foil market definitely has more heat in it than the gold foil rental market. My guess is that many renters are extremely price sensitive in their focus on ROI but have not actually done the research across the whole market (regular & gold foils) because they assume that gold foils are always more expensive than the equivalent regular foil of the same card at the same level. While this seems a sensible assumption, I know for a fact that this hasn't held true in all cases (the card spotlighted below is a case in point). It will be interesting to see how long this effect will persist in the market.


Card Spotlight

Would you be interested in a Gold-league Gold Foil Beta Tyrus Paladium?

Genuinely surprised that this hasn't had any takers since I acquired it earlier in the season. There's not a single player who is renting at level 6! AND it's cheaper than the equivalent regular foils that are currently available!! A bargain any way you look at it.


Card ID: G1-38-0K6JNSKH1S
Escrow: $0.075
Daily Fee: $0.027
Min/Max Duration: 3/180 Days


A big THANK YOU to my current customers!

@abacam
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The Legendary Canary strives to provide cards with:

Competitive daily rates
Generous contract terms
Useful abilities you actually want!

Explore what is Available!

https://peakmonsters.com/@legendarycanary/cards
Filter by "Delegated: No" & "Cooldown: No"



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