What is Farming Tales?
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 Update
Since my last post about Farming Tales some time has passed and I want to give you all a short update about my latest investment. Earlier this month Farming Tales has announced the first Pet sale which will be used in a future update of a breeding system. The Mint of the Dog will be unlimited for the breeding system, but it will never be available again for sale.
The first announced sale date on Sunday 17th April was postponed because of the Easter Weekend and after a community vote for another date ended with 50:50 they divided the Sale into two parts of 100 pieces.
Before the first Sale happened they announced the statistic of the first pet:
Dog:
- Cost: 30,000 SESTs;
- Production time: 7 days;
- Reward: 1,300 SESTs;
- Consumption: 45 WATER.
Both Sales are now over and both were sold out within 30 seconds! There was a whitelist requirement, but it was only required to own a rare or epic Silo / Water Tower or Barn. The cheapest option is available for around 10 WAX.
I was lucky enough and could buy the Dog during the first sale. I have waited till the countdown was over, clicked the Purchase button, confirmed to the blockchain and after I have finished my sale of the Dog 70 / 100 were already sold. Some seconds later after refreshing the Page it was sold out.
I got mint #63 and this is how my new pet looks as NFT:
My Calculation
As always I have done some calculation in my sheet before I decided to purchase the Dog. Because the Dog uses Water like Plants and Greenhouse I added it to the "Plants" calculation sheet.
I have listed my Greenhouse, the dog and 3 Vegetable gardens with different seed options (3days, 4days and 5days harvest time).
The Earnings of the Greenhouse is the current market value of the seeds minus the market fee. This is at the moment approx. 2.7 WAX per day.
I have an epic Water tower with 200 Water capacity which lowers my costs per water by a significant amount. For common and rare this will cause loss in profit.
As calculated my Greenhouse earns me 2.665 WAX per day and the dog 0.631 WAX at the calculated SEST/WAX price.
The 3 vegetable garden options are calculated without Seed costs, if I would use my free seeds from Greenhouse and with Seed costs, because I have to take into account that I lose this amount from my Greenhouse earnings.
I have rounded the numbers to 1 WAX per Seed which isn't correct because the 5 days seeds are more expensive than the 3 days seeds. Some Seeds are also selling at around 1.2 WAX.
In my calculation sheet the vegetable gardens are not that profitable if I take the opportunity costs of the seeds into account.
Based on this I have decided to invest my 30,000 SEST I have earned through harvesting during the last month. At the exchange rate of the sales day this amount was worth around 160 WAX.
This is a ROI in 254 days or 144% in a year at the current SEST/WAX exchange rate and without possible future earnings with a breeding system.
The sale of the Greenhouse was with 40,000 SEST and is a higher ROI. The Greenhouse sale was at a higher SEST/WAX exchange. I missed the official sale but I managed to buy the Greenhouse on the secondary market for 450 WAX which is with the current a ROI 216% in a year.
Market value
The sale is over, but some have bought more than 1 dog, or only to flip it for a higher price.
There are only 18 dogs for sale at the moment and the cheapest is 370 WAX what is more than double the price of the official sale.
A total of of 11 dogs were sold within the range of 300WAX for the cheapest to 400 WAX for the most expensive sale.
What now?
Yesterday was the update which unlocked the staking of the dog. I have staked the dog on my farm and now I am waiting for the first 7 days until the first harvest. The TACO App is already updated and displays the Dog in the App.
One problem I have is that the Dog requires 45 Water and in the 7 days I need additional 7 Water for my Greenhouse. This is a total of 52 Water per week without vegetable gardens. Because the Water Tower has a capacity of only 200 this means I am missing some water for the 4th harvest. To not waste water or harvest time on my Dog I will start with 1 or 2 vegetable gardens to fill this gap.
I keep harvesting my animals at the best times I can, but can't manage to hit the Harvest button on cooldown, so I am missing out on some earning potential for the lower cooldown animals, but I don't want to wait the whole day just for the next harvest.
For me the Epic Sheeps and Pigs are really confident, because with a harvesting time of 10h I only have to do the harvests early in the morning and at night after work.
I am waiting for the update for the product system and the release of New Waxchester, but as it looks now this won't be released in April. I have around 25k SEST liquid and I want to start staking to the production buildings to get another passive income cash flow.
Now that the NW release isn't in April I will stake half of it to get at least some CBIT for it. The unstaking period is only 7 days.
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