I think a lot of Splinterland fans have been hearing a ton of news about how Splinterlands is the most active blockchain game presently and continues to grow. However I asked what about the sales volume of Splinterlands assets?
On Cryptoslam.io the reality is Splinterlands although is tradable on WAX is currently out of the top 250. However all this is somewhat misleading. First off even though cryptoslam tracks WAX transactions there are plenty going on every 24 hours.
Snapshot above is just taken as I am writing this post and the most recent sales were a few minutes ago. The amount of transactions has fallen from its peaks for months, but there are still plenty of trades occurring.
One reason likely why Splinterlands is no longer in the ranks on cryptoslam is that majority of the transactions occur on the Hive blockchain, a chain that cryptoslam does not track.
Chart above shows the Hive transactions and there is close to $200k of transactions occurring on a daily basis. This would easily get Splinterlands in the top 100 and maybe even top 50 if the Hive transactions were included on cryptoslam.io
Currently there are still on going sales of Chaos Legion booster packs, but other assets that can be traded or soon to be are some highly sought after items. For instance the land expansion having a total of 150,000 plots only ever to be made has its own marketplace ready to go live once the expansion comes out.
Once lands are active for game play we can only imagine the addition assets that can be traded and the value of the assets help boost Splinterlands overall transactions.
All in all this maybe giving Splinterlands more benefit to not be ranked in cryptoslam. Since the transactions are still reasonable for daily total where as top ETH NFTs are trading like over $1 million a day it really seems expensive. Assets are trading in the 4 to 5 digit ranges being the norm. This is all pricing out the newcomers to crypto and small crypto investors. Instead the bigger trading NFTs are the less players will likely be active.
Example daily top 10 on cryptoslam in transactions has only 4 projects that exceeds more than 1,000 buyers. In total of all top 10 projects combined there is less than 40k of participants. Then we look at the Splinterlands transactions.
Seven days total is under $1 million but there were 824,580 cards exchanged. In fact the price has been rising in past couple days while cards traded drop leading to asset price appreciation. Divide all these days by 7 to get a daily average it comes down to close to $125k a day with a little over 100k transactions. The activity on Splinterlands is high while the prices still affordable for many to join and play.
The network effect, also known as the network external or demand-side economies of scale, states that a good or service becomes more valuable when more people use it. Precisely, more the usage of the product or the service, more is its value.
Splinterlands is currently expanding when it comes to a network effect while the prices has still somewhat remain low. This allows more people who potentially wishes to join to be able to as the cost of entry is low. All the while there are plenty of repeat users and activities they perform in game whether playing to earn, buying and selling cards, or trading other assets.
As a fan of Splinterlands after seeing what I saw on cryptoslam.io I am not so worried at all in regards to future price appreciation with Splinterlands. It has a lot going for them and there is a lot of room to grow even more. It would simply be amazing if Splinterlands can again retain a spot on cryptoslam's chart as it would mean there were more transactions occurring on WAX. All the while majority of the transactions are still on Hive.
Until next time thanks for reading!!!
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