The gaming segment has been growing significantly for the last couple of years and with blockchain it has gone to the next level because we are getting a lot of additional benefits that were never part of it. It has also opened a door of opportunities where we can explore a lot and this has become possible only because of blockchain and Crypto otherwise this was never a possibility on the traditional gaming platforms. Now since we have got the option to play the games on blockchain and this is trending as well because a lot of people are liking the concept and they are getting on board. This can be a good competition for traditional games because blockchain gaming has been doing well in the last couple of years and still it is in the initial phase because the major adoption is yet to come. With traditional gaming, we can only think about the fun and entertainment whereas with blockchain gaming we also get a lot apart from the gaming experience, and investing in various digital assets is something that is beyond comparison.
Every game has got some token economy and based on the market supply and demand this can be much more valuable. For example, if I talk about the SPS token which is the governance coin of the Splinterlands game. This governance coin was launched in July 2021 and next month it is going to complete two years on this platform and in this period. This has performed pretty well when the value was almost$1 at some point in time however it is under value and I believe it is just because of the bearish market impact.
SPS Year-Long Airdrop
This was one of the first tokens that were distributed to all the players for the entire year and I have never seen any project doing this kind of amazing airdrop ever. Earlier I have seen some of the projects that did the airdrop to their users and it was one time but this distribution continued for the entire year which was like 365 days with no problem at all with the technological mechanism. It is obvious that when more people get the tokens for free and that too far long term then they will be trying to book the profit and probably this is also one of the reasons for the low price of this token. Now we are also getting the airdrop for another token called GLX and it is also following the same pattern that everyone will be getting the air draw for the whole year.
SPS Staking APR
We have been given the option to deposit our SPS holding in the game account and return, they are paying certain rewards which are more than 18% APR as of now. I know that this percentage has dropped and the region behind this drop is bad because a lot of people are depositing SPS which is going to be a requirement in the game in the coming months. When more people deposit their tokens in the pool then the reward will be distributed among all and that is why the percentage will be dropped accordingly.
As I mentioned that the current apr is above 18% (18.49% to be precise) and I believe this is also a very good reward for holding the SPS tokens in the game account. I know that in the traditional market, we can hardly earn in double digits but here it is possible and that too when the price for sps is very low and even I can say that it is the lowest ever that we have seen for this token. There is also a bonus that we are getting the GLX tokens as part of the SPS holding and that is a good addition to the apr that we are generating through the sps holding if we include it all then I am sure it is going to be approximately 25% overall.
My SPS Staking Strategy
I know that there are some pools that we can join and probably we can earn more there but I believe that this is something where you can also lose a certain percentage because there can be a situation of impermanent loss. maybe some people are more familiar with that pool system but I am not hence I find it quite easy for me to just deposit my tokens in the game account and that is all I need to do. I am happy with whatever percentage is offered by the game itself and I am going to follow the same strategy because I am familiar with this and not going to change for sure.
I have more than 33K tokens in my account and I am just trying to make it almost 60K tokens in total as soon as possible because that is the requirement for me to play in Gold League. All the tokens that I earn through the reward or buy from the market are deposited in my game account. Earlier I did some conversion for the voucher tokens when the price was good but these days it is quite low so I'm not finding a better deal hence accumulating those tokens as well for later use. I don't know how the price will be working for the voucher to open later on but I believe once the value will be a decent one then I will be thinking about the conversion from voucher to sps. Hopefully, this will give me a good bunch of SPS tokens that I can add to my holding and this will also boost my accumulation journey for the SPS to reach my goal of 60K tokens in total.
Splinterland is one of the games where 1 strategy is not enough I believe because first, we need to plan the game to increase the winning ratio as well as we also need to plan the investment strategy on various assets to grow the account. my game account is like an asset to me and I keep on trying my best to add more value to this by following the reinvesting strategy on this game. I have no thought to withdraw any money from my game account instead I will continue to accumulate the assets as much as I can with the long-term approach. When I say the long term then it is not less than 34 years at least however it can be even more depending upon my further investment and market sentiments.
(Splinterlands is a fantastic play-to-earn game and if you like to join then do it through my affiliate link shared below-)
https://splinterlands.com?ref=reeta0119
[Images are from the splinterlands game wherever not mentioned]
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