Hello SPIers, today we look into GMLSPA pack tokens. What are these you are thinking? These are pack tokens for the new soccer football game being released by 
I have no intention of playing the game, thats up to our gaming account and if 
In 2020, we bought 17 ALPHA packs at 55 STEEM each and sold 10 of them for between 700-900 HIVE each around 2 years ago. We bought 37 BETA packs at 16 STEEM each and sold 30 packs at between 250-350 HIVE each at the same time. In terms of HIVE return we did ok but HIVE was 20 cent when we bought and around $1 when i sold them so in $ terms we did 80x on ALPHA packs and 75x on BETA packs. HIVE is around 40 cent today but in 2-3 years, i would expect it to be higher 😉
We've made good profits from Splinterland pack tokens, over 15,000 HIVE and we still hold 7 Alpha tokens 5 BETA tokens. I think its worth the gamble to take some of those profits and put them into the next game being released by
What is GenesisLeagueSports (GLS)?
Im not going to lie, I know very little about it. I know it's a football game that is being released in June/July this year. NFT packs are on sale for $5 each and will soon increase to $10 per pack soon. I know it's being funded, built and managed by a few in the Splinterlands team so it has a good chance of doing well.
What have i done?
We have $1500 in BUSD sitting in the MetaMask not doing anything, just waiting to be spent on some ALT crypto but i think we'll get better prices towards the end of the year compared to now so may as well use it to make a few per cent profit.
I have bought 400 GMLSPA pack tokens. They are trading cheap on HE, for less than they are being sold for directly on the GLS website. This is because of some loophole were a few GLS whales took advantage. GLS packs are bought with GSUSD directly on site, the whales pumped the price of GSUSD and then bought up tons of packs for cheap.
What im going to do
As soon as i bought the pack tokens on HE, i transferred them to the GLS website and staked them. This pays us a reward for the next 51 days of currently 0.619 GLX tokens per day per pack token staked. I work out we'll receive 1733 GLX per week. We can either stake these GLX tokens to receive a 124% APY for the next 209 days or sell them on HE for HIVE.
Based on current prices of GLX of 0.04 HIVE each, we could convert GLX rewards into around 69 HIVE each week for the remaining 7 and a bit weeks. 69 HIVE for 7 weeks would be 483 HIVE. Our total investment into these is 2880 HIVE and this 483 HIVE would be like 16% of our investment back. Are, to put it another way, it would decrease our investment into this and each pack will have cost us closer to 6 HIVE each instead of 7.2 HIVE after 7 weeks of converting GLX into HIVE.
After pack staking rewards stop in 51 days, we just HODL the packs and wait for the price to increase to $10 before the game is released. If we can sell back 200 packs for on HE for $10 each after they sell out directly on site, we could book a 50% profit and freeroll on 200 GLS packs.
Anyway, I dont often write about smaller investments im doing and i thought a few people would be interested to know that we hold a few of these packs. I think we got them at a good price and even if the game is pump-and-dump successful, I cant see us losing money on this. We'll hold and see what happens.
Thanks for staying up to date with SPI news. Have a great weekened.
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token |  | SPI |
| LBI token |  | LBI |
| Top XV token | | XV |
| Eddie Earners |  | EDS |
| EDS mini miners | | EDSM |
| EDS micro miners | | EDSMM |
| CUBlife | | CL |