Another Month, Another Update. But this month my game was not that special.
I had some ups, doing well at Rank 9, and also struggled at some point to remain at Rank 7.
That gave me time to think, more about that in a second.
Letยดs get this money thing out of the way first.
Show Me The Money
So I started Jan with 243 GODS tokens and a little bit of ETH.
I ended Jan with 40 more GODs and the same bit of ETH.
Now by the end of Feb, I got close to 60 more GODs and still a little bit of ETH.
Now I see a pattern here.
Do you see a pattern?
Last Month
This Month
ETH is the Pattern.
I am not doing anything with ETH, the last card I listed for ETH sold in December, and since I have not touched the stuff.
Why not?
I think it has to do with my noob mindset.
And I hope you can leave me some comments on the below way of thinking.
In my noob baby mind this game is about fun and GODS, so whatยดs ETH got to do with it?
[Q]Why would I want to use ETH to buy or Sell cards?
[A]I donยดt know, because you expect ETH to do better than GODs? Because you can use the ETH you have outside of the game to buy cards?
Because you think ETH tokens smell funny?
Because itยดs easier to move your ETH to an exchange or wallet?
I honestly donยดt know the answer so please drop me a line and help me out here.
Because to me it makes no sense.
I do see that the ETH prices are lower than the Gods prices for cards.
Is that because it prevents you from having to swap your GODS for ETH?
Or because so many people use their actual ETH to buy cards and do not wait like this little noob till they have earned enough GODS to buy the next big card?
I expect it to be the latter, which is hard for me to grab because I donยดt roll that way. But it would explain why I come across peeps that play worse than I do (yes they exist), but own cards I can not avoid for another year or so.
Or do people consider GU cards an investment?
Am I looking at this game from a way to childish perspective? Is it not just about the better strategy and the smarter deck, but can you actually make money using your ETTH and buying the NFT dip?
Let's See
I will take a look at two cards that I like to have and tell you what I see.
The Divine Coronet
Now this one seems to have had a very nice run up from around 70 GODS up to 500 GODS. But lately, itยดs dropping back to that 100 GODS level. So just based on this chart if I would buy as an investment that 100 would be my buy-in price.
The next one, please
Jason, Medea's Muse
This chart looks a lot more stable with a base price of around 888 GODS and touching the 3K at the peak. I would probably spend 900 GODS on him if I had them. But I would first buy The Divine Coronet as it has shown it has more potential to increase in price.
Now letยดs compare those charts with the GODS chart of the last year.
And this is where things get interesting both cards I used as an example have a peak in June 2023. When the GODS tokens were at the lowest point of the year.
And if I look closer I can see a clear correlation between the dropping price of GODS tokens and the increasing price of the NFTS.
Because in June GODS was only 11 cents so your cards if bought in Jan at 31 cents should get 3x more expensive. In both cases, it was a bit more than that but it proves the point.
But I see two more points.
I see I see what you also see
The first thing I notice is that when the GODS price was up in November you see that both charts dip a little but not much or significant enough to really be worrying. They mostly show that in the current market with the prices being more or less like March 2023 the cards are more expensive now than last year.
That would make sense as the Bulls are slowly coming back and that would mean more players and more money.
The other thing I see is that Jasonsยด popularity has drastically dwindled over time.
Is that because heยดs too expensive, or is he no longer new and shiny?
If you compare Jasonsยด number of sales to the Cornets' sales:
They are both at the expected price level but one sells a lot more often than the other.
Bikini Bottom Line
That makes me think that my mindset of buying only those cards I can based on my earnings might be more common than expected. And none of those noobs that joined last year have the money to buy a Jason.
So from an investment perspective, I would not buy a Jason.
I probably would not buy any GU NFT cards as a long-term investment. Based on what I just saw it seems that the cards are pegged to a dollar value. Hence if GODS goes up the number of GODS for the card seems to go down, giving it a steady dollar value not too much impacted by the movements of the crypto market.
Hence you win less you lose less, which means that with the upcoming bull market, I rather keep my coins in a wallet than in an overpriced card. But on the way down that card might not be a bad idea, it would hold its value better than the tokens.
But that tells me that ETH is not likely to be used to invest in GU NFTs, so why buy with ETH?
See you next month!
More of my Noob Advice:
Thank goodness you made it till the end Pees, Love and I am out of here!
[Source Pic](All pictures are by Meme, MyI & AI unless source is listed)