Friday Finance 9/16/2022: Splinterlands Love
It is time again for another Finance Friday/Friday Finance. This is a series I started where I talk about random bits of financial stuff that I have seen, gathered, or experienced during the week. I hope as a reader you find it informational, entertaining, or both. I also hope it can generate some good discussion and edify the Leo community.
Quite the week it has been eh? BTC running up to $22K and then falling back down into the $19K range. It kind of feels like we are back in that ping pong game that happened pretty much all last year. Hey, did you hear, the ETH merge happened. For many of us that was probably the biggest news that happened this week.
For others, it likely had to do with a little project on the Hive blockchain called Splinterlands. Oh, and I should probably mention those of you lucky enough to make it to Hivefest. Remember to pace yourself, it's going to be a long three days/nights!
Splinterlands
We are not even 24 hours past the pre-sale for Rift Watchers and there is already a lot to talk about. My play for vouchers didn't work out the way I had hoped. The price never got to what I was planning to sell for. I think it will eventually, I just need to be a little more patient.
Congrats to the Splinterlands team. The initial 500K presale packs sold out in something like 1 minute. As expected, there were many people QQ'ing in Discord that they weren't fast enough and it wasn't fair.
That wasn't me, but I did have an issue that many others did. If you were buying bulk packs to get the bonus packs you had to enter your bonus packs manually depending on how many you were buying. A lot of us either didn't realize that or skipped it because the extra step would have cost us time.
They had some predetermined numbers like 100, 1000, 2000 where if you just clicked that button it added the bonus packs automatically. For me, I bought 300 packs, so I had to manually enter 300. I would have then had to manually enter 30 for bonus packs and like I said, that extra time would have cost me.
The last block of the presale was 67936464, I was lucky enough to get my purchase in at block 67936440. That's just 24 blocks before they sold out. I have zero doubt I would have missed out had I taken the time to enter my bonus packs.
The good news is, the team at Splinterlands seems to be very gracious. They are extending the sale and allowing purchases for a full three minutes to count. They have also indicated they are going to honor the bonus packs if you can provide a transaction ID to prove you purchased the required amount.
Special thanks to @nealmcspadden for helping me find my TX ID.
The other surpising news yesterday was the fact that the first tranche of validator nodes finally sold out. My guess is people were stacking a lot of SPS and vouchers for the presale. Once those were gone, those people who didn't get what they were hoping for decided to dump those funds into nodes. The remaining 1900 or so sold out in less than 6 hours or something like that.
At $1500 a pop (with vouchers), that's a lot of wealth shuffling around right there!
ETH
I think we all know by now the ETH merge happened yesterday. The price took a pretty significant hit, but I think we all know it will probably recover pretty quickly. Ultimately only time will tell what this journey into proof of stake will mean for ETH.
Many of us will probably be watching it closely given our affinity for proof of stake chains.
Grayscale
Finally, I'm not sure how accurate it is, but I saw an article earlier in the week that Grayscale (I think) was filling out forms with whoever they need to (SEC?) to sell a bunch of stock. The speculation is that they are going to take the proceeds from that stock sale and roll it into some more BTC. I'm not sure that actually happened, but it if true I think it is interesting.
Hopefully people seeing a big firm like Grayscale doubling down on cryptocurrency will be a catalyst towards even further growth for the crypto sector. Dare I say it may even drive us closer to mass adoption?
Maybe that's hoping for too much too soon!
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