Sirwin
Sirwin

Splinterlands | The Road To 200k Staked SPS !

By costanza | costanza | 23 Mar 2024


I managed to reach my 150k Staked SPS 5+ months ago in Splinterlands (Link) and with the price back closer to my buy range of <0.02$ I have increased my goal to an even 200k Staked SPS

 

Splinterlands & SPS

For a while now, all effort has been focused from the team toward getting DEC back to Peg to get the Flywheel going in order to push the price of SPS up. This has been partially successful but it also came at a great cost that the entire card market pretty much collapsed. At this point, I see it way more profitable and favorable to just buy and stake SPS instead of buying / holding cards and playing the game trying to earn something. Cards the way things are right now are close to a sure thing of going down in value with the earnings having little to no chance to compensate for that. Not even talking about the time it requires.

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Splinterlands at this point feels like a game where players spend money of which part of that value flows into SPS over time.

 

 

SPS Accumulation !

I continued to accumulate and stake all the SPS I earned these past months which comes down to roughly 5100 SPS just on my main account. On average over my 2 accounts combined I managed to earn an average of 750 SPS a week playing in Wild while having 160k+25k SPS Staked.

 

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Right now, the price is back just above my maximum buy zone of 0.02$ but if it dips below, I will start deploying some Hive blogging earnings to buy more on hive-engine to reach the 200k Staked SPS sooner.

 

SPS Binance Listing

There has been a lot of talk about pursuing a Binance Listing which should be a major boost to the entire game. However, the New Player Experience needs to be rolled out first along with the SPS chain as right now it's too complicated with SPS trading on different chains. So with the bull market in full force, Splinterlands will likely miss the mark completely as it will take long before the requirements to buy a listing are met.

 

I do believe that being available on Binance will do a lot as it gives the game a status of being legit while opening it up to the 'Dumb Money' who buy 'gaming crypto' coins as an investment without having a clue what they are buying just because they believe the number will go up. In a way, many (most) of the current bigger gaming tokens that have a listing are nothing more than meme coins with a crazy high valuation totally disconnected from any fundamentals or revenue.

A couple of examples:

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I would argue that out of all these, Splinterland by far has the most active community with so many podcasts and youtube channels about the game (Link) and the game itself is also really fun with tokenomics that actually make some sense. However, none of crypto-twitter and Crypto-Youtube actually takes it seriously because it is on a niche chain (even though it works great) and it has no listing on a big exchange. The entire token model where there are staking rewards that are high at the start made the opening price way too high now having created a chart where price has only gone down which nobody wants to be associated with. In that regard, open low and go higher just looks way better and I hear that the Arcade Colony will make the same mistake just like GLX made that same mistake.

 

Conclusion!

I still think SPS is highly undervalued especially compared to other gaming tokens so I continue to accumulate and stake more increasing my goal to 200k Staked SPS. However, it can't be said that things are great right now for the ecosystem but those are the times that are usually best (or the worst) for buying more. I guess only time will tell how it all plays out.

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costanza
costanza

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