Will I Regret This Decision? | Splinterlands #344

By mercurial9 | mercurial9 | 23 Feb 2024

Runi Challenge Is Dead



After much thought over the weeks, I have come to a decision that I have been hesitant to announce; I am ending the Runi challenge. It has been a journey filled with excitement and anticipation; however, it is now time to say goodbye to this endeavor. This decision was not taken lightly. Here are key factors that have brought me to this conclusion.


Runis Price Fluctuations

Throughout the challenge, the price of Runi has been quite volatile making it increasingly difficult to establish a target for acquisition. The initial target for the Runi fund was around $500, but the price of Runi since the launch of the Land 1.5 release has seen an increase of 20-40% in USD price. This has been further compounded with Bitcoin surpassing milestones of 40k and 50k price targets. Therefore, the original aim of acquiring a Runi at $500 or less seemed out of reach as the price continued to rise beyond my expectations.


Shifting Interest in NFT Investments

During the holiday season upon reflecting on many things related to my crypto investments, I started questioning whether pursuing the Runi challenge was still the best use of funds. In a relatively short period of being involved in the splinterlands ecosystem (3.5 years), I've seen a drop in the value of my splinterlands collection going from $20k (2021 Nov Crypto NFT Bull Run) to $3.6k (main account current evaluation). After spending a considerable amount of time and investment ($3.6k+) in the 1k Chaos Legion pack opening challenge – I realized that spending over $500 on a single Runi NFT isn’t worth the risk and nor proper risk management principles when you consider spending buy something that expensive that is almost 20% the total size of my splinterlands collection.


What's Next?

Now that I've rug-pulled the Runi challenge, I'm focusing on reallocating the funds. For the short term, I've decided to convert half of my DEC in the Runi fund into SPS and provide liquidity to the DEC:SWAP.HIVE pool. As for the next challenge, things are uncertain. While I thought about starting a challenge centred around getting the Rebellion set, the constant cycle of NFTs printing brings its own challenges around oversupply. Without ways to control supply inflation, card values are likely to decrease over time — a trend not just seen in splinterlands but in other blockchain-based NFT games like sorare.


Therefore, while not set in stone, I will continue to work towards getting to the 100k SPS staked mark and continue to report on how my land investments are going in the splinterlands ecosystem.


Jungles of Thece Land Update



Switching focus to Land 1.5 update - it has been a month since the financial update. Not much has changed in terms of land activities as I have not bought any plots. The appeal of owning land lies in its ability to sustain itself with one plot covering grain expenses, for both plots and the other generating SPS — a two-way investment approach targeting both repayment of the land purchase and staking SPS towards the 100k goal.


Financial Overview

*(calculated based on an SPS harvest rate of three per day and an assumed SPS price of $0.0249)


Concluding Thoughts

Although deciding to cull the Runi challenge left me subdued I am relieved to have addressed it. While I usually aim to see challenges through till the end, this time I did not want to give into sunk cost fallacy and just going on with the challenge even though just did not seem right for me at this point of time in my splinterlands journey. I continue to stay dedicated to writing about my splinterlands journey and will keep you updated openly and transparently.


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