Splinterlands | The Next SPS Airdrop !!

I managed to reach my 150k Staked SPS 3+ months ago in Splinterlands (Link) and it looks like the next airdrop will arrive in the near future...

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Staked SPS Airdrop Value !

One of the reasons that made me see good long-term value in having a good bag of SPS Staked were the potential airdrops. I wrote about this back in august 2022 (See: SPS Real Yield Potential and the main reasons to cost-average SPS over time were:

• Growth Potential: This actually turned out in a shrinkage so far partly because of the bear market, the potential to get a lot more players however is still there. Back in August 2022 60k SPS which I got from the aridrop was worth close to 4677$ while 158k SPS now is worth just 3635$. My main active buying accumulation price however was below 0.02$ for SPS.

SPS August 2022	SPS January 2024

• Voucher Drops: I haven't sold any vouchers yet and just continue to stack them now holding close to 2000 which is worth 80$ based on the current price and "400$" based on the purchasing value.
  

• Airdrops: GLX has been airdropped already and the next airdrop seems to be coming soon.

• Tournament Prizes & Delegation Earnings: I've been entering the Silver Wild Tournament each time which helped me to get some more SPS. I haven't done much SPS Delegation yet though.

• Staking Rewards: these pretty much only count as 'real earnings' once the bottom is really in as before, the inflation just pushed he price of SPS down more.

• Play2Earn Rewards: I continue to get more SPS from playing the game but honestly it's too low for me to bother playing my alt account anymore.

• Riftwatchers SPS buying Pressure: This use case was kind of scrapped as SPS was changed to DEC, However, Rebellion packs are owned by the DAO now though so that gives some value.

• Ecosystem payments: At the time there was talk for Splinterlands to become an ecosystem where SPS needed to be burned for devs to participate. It seems though that they now are creating a new platform for that (invennium.com which the new airdrop will be from.

• SPS Burn for DEC: The Flywheel by now at least partially went into effect which reduced to max supply from 3 Billion to 2.891 Billion so 3.63% Got bruned already.
  

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GLX Airdrop !

I consider Genesis League Sports and Genesis League Goals and a failure that will never recover at this moment. It came purely from an angle to replicate a working model and not from the angle of creating a great game. This created a situation where there was a pre-sale and an airdrop with just the promise of a product which turned out to be such a complete joke that I can't imagine anyone ever playing this seriously.

One of the main issues with these airdrops is that it comes with a staking mechanic that gives more coins to those who stake with a very low supply and extreme high inflation at the start which feels like high return. The continued increase of tokens in circulation and sell pressure along with the declining yield make the price start ridiculously high and it only going down after which makes for a very unattractive chart.

SPS did exactly the same thing which now makes the chart look like this

By selling GLX systematically, I did manage to get 2000+ Hive from that including my Level 3 Jacek & Astral, 150$ worth of cards at that time that I purchased for my Nieces. And 458$ profit taking to put in other cryptos. This really was a nice return of Staked SPS party making up for the price drop along the way. I did stake 1000 GLX at the start and recently claimed my last batch adding 1000 GLX to it as this will also give the airdrop.

At the price of 0.005$ for GLX and a maximum supply of 2 Billion, this mean that the potential market cap of GLX right now is 10 Million. However, when I started selling the price of GLX was worth 0.23$ or something which made it so that the total market cap would have been 460 Million which was just crazy.

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The Next SPS / GLX Airdrop!

Honestly, this is getting complicated because they are basically copy-pasting the same tokenomics again now with Arcade Colony which will focus on arcade games and things that aren't sports related. So from what I understand GLX will continue to exist and this is new platform is what GLX was to SPS with a 50/50 airdrop split between GLX and SPS holders. GLX will be forked and token balances will be 1 to 1. There is going to be a town hall next friday with more info.

The first arcade game will be a Mario Kart Style Game called Moon Karts and there is going to be a dynamic where you can drive over coins to earn them.

It is made by a 3rd party team and the main idea behind Arcane Colony is that anyone can bridge and existing or new web2 game into the Play2Earn Web3 space.

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Initial Thoughts!

Initially, everything that was built going forward was going to operate with SPS. however, since they were not able to create more SPS needed for rewards out of thin air, the solution was just to copy-paste the entire model to a separate platform (GLX) and do it all over again with an airdrop to SPS holders kind of as a way to compensate what was supposed to be SPS getting the use case. With GLX fialed, they are now pretty much doing this again for a platform that is supposed to bring out arcade-style games with Moon Kart being the first on.

While it's nice to get some free coins airdropped for having SPS Staked, I also remain rather skeptical about the whole thing after the GLX disaster. Most likely this COLONY airdrop will also come with a low initial supply and staking rewards that start out with high ROI and will once again make the token valued way too high followed by a continued dump. this is especially true if it's an airdrop done over time.

This said, I kind of like the Arcane Colony idea much more than the GLX stuff. All details still have to be released so its not yet possible to really draw any conclusions yet.

Conclusion!

Most likely, the airdrop for me once again will be something that I sell as quickly as possible if the staking dynamics are the same. If there ever is a game that comes out on the new platform that I enjoy that much to really dig into it similar to Splinterlands / Sorare / Mobile Minigames, I might have a go at it. I fear though that most of them simply won't be worth the time or live up to existing web2 games in terms of gameplay enjoyment. I guess nextFriday we will know more.

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Posted Using InLeo Alpha