Farming Tales Vision
Farming Tales is a NFT-based farming simulator on the WAX blockchain that uses Unity as a 3D graphic engine. You can visit your farm with an avatar and check out the great ingame graphic.
The beautiful graphic and the Metaverse setting combined with farming makes this game to a special experience next to other farming games with staking and only with user interface to click and collect.
My favour for farming games and this exceptional concept convinced me to play and invest in this game.
The farmingtales devs also want to bring the game onto the HIVE Blockchain as a future goal in their roadmap.
Farming Tales Investment
My activity as a Farming Tales farmer started on 7th March 2022 when I bought my first combination with a Stable and a Black Sheep for a total of 60 WAX.
Since this first purchase I have done a lot of calculations, was watching the market and read active in the discord about the thoughts and strategy from the investors who were there since the game launch.
Today my total investments into Farming Tales has increased and is now: 2151 WAX
With my average purchase price of 0.2753 USD/WAX I have invested 592$.
With some WAX I have bought the game tokens for staking (SEST) and Silo Tower refill (CBIT) at the Alcor Exchange, but the most of my WAX I have invested in NFTs to play the game and earn SEST.
NFT Overview
Most of these I have bought on Atomichub or crafted in the ingame market with my purchased or earned SEST. These are listed with the average WAX price. It's also possible to blend NFTs into higher rarity with using the animal or housing with a SEST Voucher on Neftyblocks. I have listed these with the WAX price for the lower rarity NFTs and the SEST is calculated with my average purchase price.
Based on my average purchase price I have invested a total of 2077 WAX in NFTs and at todays market value they are worth 3301 WAX what is an increase of 1224 WAX or 59%.
(Invested SEST from earnings in the game are exchanged at daily exchange rate and listed as WAX to reflect the opportunity costs)
Next to all this investments I have currently staked 260 WAX for CPU usage. Since some time the CPU in WAX Blockchain is on the limit, because of some games caused an increase in activity. CPU is like the Ressource credits on the HIVE blockchain and the more you stake the more transaction you can fulfill.
My largest NFT Investment
My biggest investment was the Greenhouse which I bought for 450 WAX. I missed the public sale from the 27th february, but I was lucky and after 3 or 4 days watching the price getting lower and lower it came to a price I was happy with. On the same day there were 2 other purchases for 500 and 540 WAX. Looks like some more people wanted to buy and I started the FOMO with my purchase.
The Greenhouse is a Legendary Building with a current mint of 500. The maximum mint is 1000 and the other 500 might be minted in the future if the economy requires it. At the moment the Greenhous is the only way to get seeds for the gardens except from the secondary market. Every Day I get a seeds box what contains 3 random seeds.
My Calculation Sheet
I have built an calculation sheet where I have listed all animals with an overview about earning potential, costs, flexibility (harvesting time) and ROI.
Lower rarity Animals can have a better ROI than higher rarity, but they are not that comfortable because they have to be harvested very often per day. You don't lose anything if you don't harvest, but you miss out on earnings.
In my table I have taken the range 08:00 to 23:00 were I am awake and be able to Harvest my animals. This time window calculated the Harvests per day and all my earnings are based on this table.
My most important investment was the Silo Tower to reduce the CBIT costs per food unit. 1 Refill of the Silo costs always 5 CBIT, but with higher rarity the Silo has higher capacity.
If you start playing be careful if you only have a Common SILO because depending on the current SEST/CBIT ratio some common animals can lose money if the food costs you more than you can earn with SEST. In the overview below you can see the impact on the earnings of the Silo.
The best and most common investment strategy at the current situation is the geese shelter with some geese. They are the cheapest building and have the best ROI. I also have some geese, but I diversified my portfolio because with the next update they will introduce the items (milk, eggs, wool etc.) which can then be produced in New Waxchester to higher quality products like butter, cake which can then be sold for more SEST.
Because of the common strategy with all the geese I expect an overproduction of geese eggs, which should make them less worth than other items.
Earnings
I am currently earning 1601 SEST per Day from my Animals and 480 SEST from my vegetable Gardens. This is a total of 2081 SEST per Day (without downtime in harvesting).
It's possible to stake SEST in the ingame wallet to earn CBIT. I have staked 40380 SEST and this earns me 10.317 CBIT per Day what covers some of my own food costs.
This compares with costs of 29.4 CBIT per Day for refilling my Silo and Water Tower.
In summary this sums up and at current exchange rates I have net earnings of 10.403 WAX or 3.00$ per Day.
With my invested WAX this is a yield of 0.46% per day or 169% per year.
Future Goals
I have started with animals because they were easier and cheaper to start with, but now I am trying to diversify in Plants with my Greenhouse and vegetable garden. I have built a similar calculation sheet for this and I will show some insights in a future post.
With New Waxchester Farming Tales will become much more than just SEST earnings and with the production of goods this will bring the game to a new level and more flexibility with different animals or plants.
My earned SEST tokens will be all reinvested into the game but in different sections:
- exchange for CBIT to cover the refill costs
- stake for more staking rewards and become more independent with my CBIT for food/water
- invest in more animals or plants to increase my SEST/day
I will keep an eye on the market and try to find great deals based on my calculation sheet. I want to buy an epic Silo to reduce my costs per day and I am also interested in my missing legendary buildings with limited supply.
Fishing Pier / Hive / Wildflowers
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