Splinterlands dip is not as bad as it seems

In some way, these bearish times have become the norm. Assets across the board are generally low price ranges that we haven't seen in the past two years and Splinterlands assets are also in that category.

For what it is worth though, as much Splinterlands is affected by the bear market, it is also important to point out that even throughout this bear market, the value of assets hasn't really followed the general pattern of the crypto market.

Generally speaking, I think Splinterlands assets are still at a healthy price range with all things considered. There's obviously a lot of room for improvement but the point is that if you zoom out to the last three years, you'll find that Splinterlands assets are all mostly in the green.

State of the monsters

Out of the lot, I think SPlinterlands monsters have been the best performing assets. If you were around in 2019, you'll know that even these bear market prices are still quite incredible.

Back in 2019, the price of monsters were very different from what they are today. It is important to remember that back then, despite being one of the most played blockchain games, there were not as many investment opportunities in the game.

Back in the day, even the most advanced decks with all the available monsters will barely scratch the $1k mark in total valuation. These days, despite the bear market, a $500 deck is just about enough to compete in Bronze 1 league.

I guess what I'm trying to say is that despite the drop in value from the peaks of the past couple of months, card prizes of today are still in the green zone. For example, Serpentine Spy is still a $2 common monster despite the dip and this is a monster that use to be worth a couple of cents in 2020 when I always raved about it.

When it comes to the dip in the monster value of my deck, I reckon most of the reds will be among the newer collection of monsters. basically, Rift Watchers and Chaos Legion, with a number of Chaos legion monsters, in particular, being underwhelming and just plain lame.

At the end of the day, monsters still seem like the best long-term investment in Splinterlands. For some reason unknown to me, the value of NFT monsters in SPlinterlands tends to rise with time and with a lot of expansion yet to come, I don't think things will be changing.

The tokens

A lot of the growth in SPlinterlands is tied to the introduction and distribution of SPS in the game. Around this time last year, the SPS airdrop was hot and virtually everything in the game pumped, with DEC and SPT not excluded.

The end of the SPS airdrop brought some level of deflation in the value of all SPlinterlands-affiliated assets. However, when you think about it critically, you'll find that things aren't quite as horrific as the general crypto market.

Yes, SPS has been dramatically affected by the market and has dumped many folds in the past couple of months. However, that's a new token that was only introduced a bit over a year ago and was always bound to hit lows at some point.

DEC and SPT, on the other hand, seem like a much better proposal than what they used to be 2 or 3 years ago.

These days, we talk about DEC getting to the imaginary peg as a possible occurrence because for a while we saw it not only reach but surpass that rate of 1000 DEC to a dollar$. In 2020, the price of DEC was nothing close to what we have today and this is after months of dipping since the highs of last year.

DEC might have been very low in the past couple of years but at least it had some value. SPT was invisible in 2020. It was one of those assets you see on Hive-engine that you scroll past because they seem inconsequential.

Today, I look at my Hive-engine and the value of my SPT tokens I've accumulated from publications are worth more than $3. Trust me when I saw even this "bearish value" of today would have seemed like a miracle in 2020.

Perspective

At the end of the day, it is important to always look at things from a long-term perspective. Being overly reactive in the crypto market often leads to a lot of pain and that's something I highly kick against.

The Splinterlands market is experiencing a dip and if you got in during the bull market of last year, you're definitely going through pain. However, if you've been around longer, you most likely look at the bearish value of your deck in awe and pat your back for coming so far.

Splinterlands was just a game we played back in the day and while we hoped for big things, we didn't realise that we were going to be part of such a huge ecosystem. There's still a lot more to come and more room to improve, and I reckon we'll take advantage of it.

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