Giving up on Splinterlands
I made it to Diamond III for the first time and then,
decided to quit playing Splinterlands.
That was several days ago.
The reason I quit was simple - with the cards I have, I can't compete in the Diamond Leagues and would just be slaughtered. Even if I rented more cards - I am just not good enough. Of course, I could have stayed in gold and kept plugging away there - but what does that get me?
It is a bastard of a game so far, as while I have only been playing it for six weeks, it has taken all of my money. However, because I chose to buy-in quite heavily, I have also been able to advance quite quickly, atop the coaching tips I get from SL veterans. But what has surprised me the most, is how sticky the tokenization model is.
I came in late to the game as an investor first, not planning to play. But in the end, I opened up card packs and then, bought more card packs to hold and then opened them and bought some more. This has left me in a pretty good position and while I think that I have put "quite a few thousand" into the game, currently it is looking pretty good on technical value increases.
While the 40 loot boxes on offer in Diamond III aren't much of an attraction as I don't get much more than potions currently, the reason I stopped playing is two fold.
The first is that I want to spend more time writing and there is an opportunity cost involved with playing - time. It takes time to play and it is the same time I have to write - so if I want to write as well, I have to either give up sleeping totally, or give up playing. I chose to quit Splinterlands.
However, I will likely only be quitting for this new season, as for the next two weeks, reason two comes into play.
As a latecomer to the scene, I am a fair bit behind many others and have a pretty steep buy-in, meaning that my cost average is very high. Compared to the gains since I started, it is like buying Bitcoin at 15,000 - Ludicrous!
Yes, the value of what I hold is up almost 3x since I started buying a few months ago - so I can't complain - but I also can't sell! This means that I am a little short in the liquids department and I want to keep collecting the SPS on my holdings. My collection power on my cards isn't that high (though I am guessing it isn't that low either in comparison to many players) but as this is a prerequisite to getting access to the presale of Chaos Legion packs, I want to make sure I have enough available, if I want to buy.
So far, this in itself has been a pretty incredible return on my investment in terms of yield, as after 36 days, my SPS holdings look like this:
As said, far from the biggest holders, but doing okay considering my late entry - but it was costly to get my buy in. A lot of people look at the "returns" that people get in various areas and forget that there is a cost to getting them - this is something I have met along the way as a content creator on Hive, as a few people look at the post rewards with some envy, but have no visibility on what it took to get to this point.
There are costs involved.
But hopefully, this SPS will get me a little more possibility in terms of Chaos Legion packs. However, there is still a problem as while I might have access, I don't have liquids to buy the packs with, which is another reason that I am sitting out the current season and instead of playing, renting my cards out to other players. I think this works well for everyone involved, as while I am earning on the rentals, they are able to get access to game earnings and if they can prove they have a brain, their rewards will cover costs and earn them income. It is actually a pretty efficient market in this regard.
What has surprised me however, is that I am able to earn quite well on my cards and between the rental DEC and the incoming SPS, Splinterlands is now one of my largest incoming value streams. This has surprised me a lot, but I also know (suspect) that in the coming months after the release of Chaos Legion packs, rental markets will dip, as new players get more cards they can compete with cheaply, ones they actually own.
This means that the 40% return for the day, doesn't equate to anywhere near that for the next year - but even if it ends up being 10%, that is a pretty decent amount, considering. I have heard rumors that Chaos Legion will be out soon, so I can expect this to drop accordingly as well. But in the mean time, I can use it to earn some DEC and then through Tribal DEX, pool it with some HIVE to earn some more SPS, if I choose. Or, I can sell it and use it for pack purchases when the time comes.
Note: Oh, and the rental market will likely bounce back stronger later, as new players discover Splinterlands globally. Just think, what happens with a million unique players a day.
So, this is where I am now, a Splinterlands Quitter.
Well, "on hiatus" until further notice.
I do want to keep playing though and I think there are still legs in the growth of the game, but I also know that even writing a post like this one, helps condition my brain more effectively than the playing at this time. When it comes to value, the value of me having a well-functioning brain far outweighs any of my investments.
Who am I kidding...
Okay, it likely isn't worth more if all of this crypto nonsense booms to the moon, but incase it doesn't it is good to have a safety net that can at least pack shelves at the grocery store. A few more months, and I might be at that level.
I would be happy though if Splinterlands keeps making its climb and becomes a runaway success in the mass market, because I suspect if it does, even with my late entry, I will be able to do well enough from it that I don't need to worry about packing shelves.
As said, the tokenomics are pretty sticky with Splinterlands as it offers what for me is vital for a significant investment - usage potential. A lot of people want to buy and hold, washing their hands of participation, but I like to use what I buy, which is why HIVE is so attractive to me, as I literally get to use it to increase the value of my holdings - rather than stick it on a shelf like a nerd who bought StarWars merch in 1982 and still hasn't opened the box. Where is the fun?
While I know that everyone (including myself) is hoping for life-changing value to rock our world, I am still a believer that the journey is important and we have to have some fun along the way. We all have a different definition of what that fun might be, but I really enjoy the economics side of crypto and the more complex the dynamics become, the more I like to think through the potentials - usually.
Because of my condition, I am struggling to think in these areas, so I am going to be experimenting a bit more and diving into the familiar, but newly unknown - if that makes sense to you.
Today I contacted one of my clients in a bid to get my business up and running again and hopefully I will have some sessions this month. I enjoy working - as it means I don't have to think about using crypto to live, plus it introduces me to interesting people and ideas, specialists and experiences that I can't get sitting on a couch or playing a game.
Maybe if IRL continues to collapse - all I will have to catch me is a few sats, a pile of HIVE and some game cards. If things go well, it'll be enough. But it isn't yet by a longshot.
Thankfully in crypto, we never have to wait long though because everything we ever dreamed is always coming,
[ Gen1: Hive ]
Note: That might be the first and last time I make it into the Diamond Leagues - but at least I made it once.
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