GLX is the governance coin of the genesis league game and the airdrop has been ongoing for the last 10 months. Airdrop is a free token distribution that we all like to have because it is like free money and with the splinter lands we have got long-term air drops in the form of sps and now glx. even the GLX airdrop is connected with SPS holding which means the more SPS you have in your game account then you are going to have more G L X getting distributed every day to your glx wallet. since I have been accumulating sps. I have seen the count growing for glx airdrop distribution and I continue to stake all the glx in my account.
GLX airdrop is going to end almost two months from now but even now it is offering an APR of 65% which I think is very good. With the splinterlands game, we have got a bunch of opportunities to multiply the token holding and this was started with the launch of SPS where the initial APR was almost 500%. this airdrop starts with a higher percentage in the beginning but later on, when more people participate it is obvious that the percentage will go down but by that time we can get more number of tokens.
GLX Airdrop and APR
As of now the airdropped for GLX will end in 59 days and it offers 65% of the estimated APR. This is good as far as the APR is concerned but yes the value of the token has dropped and I believe the region behind this drop is the market impact along with the lack of utility However the game is live and the team is trying to fix the bugs. I have not played this game so far but still, I believe that tokens can be much more valuable and this is the reason why I continue to accumulate all the tokens because I believe in the long term the value is going to be good.
I simply believe that any investment that we make on any project should be for the long term and similarly, if something is coming to us as part of some benefits then that should also be kept for the long term because then only we can expect the significant outcome. I don't care what value we can see in the market as of now because if the project is stable then sooner or later we are going to see a better value. I did buy some glx in the past and maybe I'll buy later but as of now whatever tokens are distributed to me are deposited back into my holding since it generates a very nice return.
I am confident that the team will make the game better and they will fix all the bugs that they come across so we will also have a better use case of the token in the game. even Genesis League has launched their node validator licence like we have with SPS so I believe that can also bring more attention to the game since it will be driving decentralisation in this play-to-earn game.
I still remember when I joined the splinterlands game in 2019 that time the asset value was low and it grew by 10x after the SPS launch. Currently, the sps and even other assets value is low but its probably the market impact. Now again I am trying to grow the assets holding and this is for the long term because I expect that the value will grow again. This is expected to happen in the next bull run.
GLX Market
I also checked in the market and I am surprised to see that everyone is selling in the market and because of this the price keeps on falling. Now since everyone is selling so can be a good time to buy but its not financial advice.
During the last bull run cycle, we saw how this player blockchain gaming segment has grown and I expect that in the next cycle, we are going to see even better growth so considering this we can build our gaming portfolio this time when the market is low. splinterlands has proven its distance in the market and even when the market is not doing well the game is doing great so it is a reliable project and this is the reason why I have been investing in this project for a long time.
Thank you