At What Point Could Splinterlands Become Your Job?
I thought I would do a little thought experiment today looking at Splinterlands and the DEC rewards that are earned through battling.
In many countries around the world, blockchain gaming is becoming a serious job because of the disparity in earning potential compared to wages in the country for traditional jobs.
For this thought experiment, we will look at the minimum wage of 5 different countries, one from the lowest in the world, one from the 20th percentile, 40th, 60th, 80th and top minimum wage nation to see at what point would DEC earned overtake the earnings from a job. We'll pretend taxes don't exist, but we all know that adds another wrinkle.
This list was able to hit on most parts of the global list, but didn't cover all 192 countries.
We will use the current dollar value of DEC to do all of the calculations: $0.01320
Mexico
Minimum wage here is $1.05 so you would need to earn 79.6 DEC per hour to make the same rate as minimum wage.
Hungary
Minimum wage here is $2.90 so you would need to earn 219.7 DEC per hour to make the same rate as minimum wage.
Lithuania
Minimum wage here is $4.78 so you would need to earn 362.13 DEC per hour to make the same rate as minimum wage.
South Korea
Minimum wage here is $6.84 so you would need to earn 518.2 DEC per hour to make the same rate as minimum wage.
Belgium
Minimum wage here is $10.38 so you would need to earn 786.37 DEC per hour to make the same rate as minimum wage.
Luxembourg
Minimum wage here is $13.78 so you would need to earn 1043.94 DEC per hour to make the same rate as minimum wage.
Takeaways
So after seeing this, it all would come down to what league you are in as to whether or not you would have the ability to bring in a lot of money. I know that it is getting quite expensive to put a deck together, which provides a big barrier to jumping into anything above bronze II or bronze III.
With that being said, even in Bronze III it is just about possible to make 100 DEC an hour, so for people coming from countries like Mexico, it is certainly possible to earn more on Splinterlands than you would working a job.
If you are able to work your way into Silver III, it seems like you would be able to bring in around 150-200 DEC an hour, so you could start to stretch into the 20th percentile range.
At the higher leagues where players are earning hundreds of DEC per game, they are blowing these minimum wage numbers out of the water. However, at this point in time that would require a heavy financial investment to get to quickly, and if you are seeking to play this game instead of working a minimum wage job in your country, those barriers may prove to be discouraging.
In my opinion, I think that Splinterlands from a financial aspect is a great form of supplemental and/or passive income. You can earn a few extra bucks, and for some almost double your hourly salary by winning a few battles. Or you can pull some very valuable cards from rewards and list them for rent on the market to gain some passive income.
There is a lot to like about Splinterlands, but what you will get out of it is roughly proportional to the time and money you put into it. If we see DEC price flying through the roof then we may see more and more people playing to earn as a full time job. Right now, that seems unlikely, but I have no idea how things will actually go.
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It's for sure you can start earning your minimum wage on splinterland. We have people who earn $10+ daily, so it's a very possible thing to imagine.
Hopefully Dec keeps going up, can't say for sure where it might go but its going to be a good ride for everyone.
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If it were to even stay close to where it is now there is a ton of potential
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It's pretty amazing but I wouldn't count on DEC that much since it's so far above the peg. At least the amount you need to earn will be dictated by the price of DEC.
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I didn't know there was a peg, do you know what it is?
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There is a soft peg of 1000 DEC for $1. At least it use to be but I am not sure if they changed anything.
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Play2earn is such a neat concept but DEC has a ways to go before being a job replacer. If anyone can do it though it would be the Splinterlands team. :)
Without a doubt yeah, it's just an interesting thought experiment and when we look at games like Axie, it has the potential to become a reality one day.
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At the moment it is paying a full wage to me over the course of a week.
That is of course 7 days on splinterlands against a 40 hour week in the real world. It's still a bit lower but not by a whole lot.