If you wanted to explain what FOMO is and what it does to people, there's not a better place to look at than Alien Worlds right now. I've been following the game ever since early January and found it to be somewhat promising right away. That said, there's still nothing to do in the game other than press the "Mine" button every X minutes, claim your TLM (the game's currency), and repeat. With the total disaster R-Planet had turned into, I've lost a bit of interest in the whole WAX gaming stuff. I've sold of all my TLM but kept all my NFTs, only mining occasionally. At that point, the value of TLM had decreased a lot and it seemed like interest in the project was slowly declining.
Then something happened that I really did not see coming. Not only did Binance announce that you'd be able to trade TLM on their site, they also added it to their launch pool, allowing you to stake BNB to farm TLM. This obviously changed everything. In an instance, the value of TLM and all Alien Worlds NFTs went through the roof. At times, TLM was traded at and above 3$ per unit. Considering that I was farming about 1 TLM every 15 minutes, that obviously was pretty crazy - 12$/hour is more than a lot of people earn in a lot of countries. I fully expected the market to completely crash once Alien Worlds enabled their feature to withdraw to Binance and for the first few hours, it seemed like that would be the exact thing that's happening. For some reason, though, the free fall stopped eventually. Right now, 1 TLM is still traded for about 0.6$ each.
That's not all though, the game's NFTs are going completely crazy. Items that were sold for pennies some weeks ago are suddenly traded for 10$ and more. Luckily, I still had all my NFTs staked to R-Planet, mostly because I was too lazy to unstake them and sell them for what little they were worth. I couldn't be more happy about that decision honestly. As I was looking around AtomicHub today, I realized just how crazy everything had gotten and thus decided to list all my tool NFTs for sale. Most of them sold immediately, netting me some absurd gains.
That Power Saw for example sold for 142.37$ - I bought it for something about 8$ back in January. That's a 18X in not even 3 months! With these numbers right now, I can only advise everybody holding any cards and/or TLM to sell as fast as possible. These numbers are completely unreasonable and in no way sustainable. I wonder what percentage of the people buying into Alien Worlds even understand what the game is about, let alone took a look at their road map or understand their tokenomics. It's a full fledged FOMO out there and now is the prime time to sell all assets you own in the game!
That's not to say that Alien Worlds has no future and is bound to fail. Quite the contrary actually, I still think it's a pretty promising title and I still think it can be pretty successful long term. But the prices are inflated in a way that's just completely ridiculous right now. The thing you need to understand here is that these tools are obviously better than the starting tools, but they aren't that better - it's really just a small boost to have a common tool compared to an abundant tool. These are selling for 10$ and more as well at the moment by the way. So I'm probably not leaving for good, but I don't see the price for neither the tools nor TLM ever being as high as it is right now again.
In a few more weeks, what happened in Alien Worlds will likely serve as a prime example why you should always do your own research before blindly throwing money at a project you understand nothing about. The people spending these absurd amounts of money are probably in for a very bad surprise. I obviously might be wrong here and the price is going to climb even more but honestly, I'm more than prepared to take my shot. If everything sells I've put up (and that's looking pretty good so far), I'm in for about 1,000$ worth of WAX - that's pretty decent for clicking "Mine" a few times a day for 2-3 months!
If anything, this whole thing proves just how much stupid money there is just waiting to be spent. Anything coming to Binance will make the people involved with it prior to the launch quite some money. Just imagine what would happen if there ever was a cooperation between Splinterlands and Binance - both Splinterlands and Hive would probably explode! Anyway, if you ever played Alien Worlds, you may want to take a look at your wallet and check your collection. If you still hold any NFTs, chances are you are in for a nice surprise right now...
And that's all from me for today, thank you all for reading and see you next time!