I have been interested in the SPT token from Splinterlands which is used on Splintertalk.io first making a post about it now years ago on the 25th of September 2020 (Link). This is another update post since last time I covered it 5+ months ago (Link)
Still No New SPT Usecase.
Right now in Splinterlands, the supply of all the assets is simply bigger than the demand which makes it so that prices continue to dump. SPT is no exception to this as the inflation continued to be sky-high (13.2% supply increase in 5 months) while an extra use-case still needs to be given to it. What at one point was a 1.4M Overall valuation on a supply with 90M tokens in circulation now is a 22.4k overall valuation on a 242M Circulating supply. This equals a whopping 99.5% drop since the top.
Basically, all the value is being inflated away and the current use case is one that nobody really cares about. The combination of SPT having nearly no buyers while there are still many who dump at the price they are able to get it made it where it is now.
Is SPT Worth The Gamble Again ?
If anything, SPT really has got me tempted again at the current price. I still believe Splinterlands vaing a good future surviving the bear market and at some point getting hot again. Likely there will need to be 1 massively successful web 3 game before interest in Play2Earn will pick up again and Splinterlands should be one of the games all the new players will look at. I also expect at some point in time for SPT to get a use-case in the game which will make the price pump a lot without doubt.
After getting my initial stack years ago, I delegated it fully to 
Something else that possibly could be done is to make some kind of proposal from the DAO to help support the SPT price even though I don't think many of the bigger players really care about it and it mainly benefit some of the bigger SPT holders. Right now SPT simply is not a priority in any way or form as the game has much bigger and more important problems that need to be solved first.
SPT Market Caps & Inflation
This is the overall evolution of SPT so far since I started tracking it.
| Date | Price | Market Cap | Supply |
|---|---|---|---|
| 10/02/2021 | 0.000280$ (-) | 19,318 $ | 68,905,727 SPT |
| 22/04/2021 | 0.000310$ (+10.7%) | 23,123 $ | 75,621,474 SPT (+9.74%) |
| 04/08/2021 | 0.006190$ (+2000%) | 460,895 $ | 85,561,680 SPT (+13.14%) |
| 05/09/2021 | 0.015930$ (+257%) | 1,425,000 $ | 89,454,000 SPT (+4.55%) |
| 18/02/2022 | 0.003110$ (-80.5%) | 387,350 $ | 124,550,000 SPT (+39.2%) |
| 28/07/2022 | 0.001000$ (-67.8%) | 152,244 $ | 153,782,658 SPT (+23.5%) |
| 11/02/2023 | 0.000168$ (-83.2%) | 32,183 $ | 191,566,068 SPT (+24.6%) |
| 19/05/2023 | 0.000283$ (+68.6%) | 60,410 $ | 213,239,755 SPT (+11.3%) |
| 28/10/2023 | 0.0000928$(-67.2%) | 22,400 $ | 241,374,655 SPT (+13.2%) |
So the price right now is the lowest it has ever been by quite a margin.
Personal Approach
I am keeping my 2M SPT staked and delegated to 
Conclusion
The combination of a crazy high inflation, limited to no use-case, Splinterlands suffering from the bear market in all it's assets, SPT continues to be in a race to the bottom. Based on the current market cap, I'm actually tempted to start buying some and likely will have done so by the next report on this token.
Play2Earn Games I'm Playing...
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