Hello, the beautiful people of Splinterverse. Hope you all are doing great and enjoying the game every day. I hope you all are enjoying the game every day. The surging price of SPS is a sign that indicates the bright future of the game. And the Land Expansion 1.5 has changed the crashing card market into a booming marketplace which is just the beginning of a new era in Splinterlands. I am sure in the future the game will be more player-oriented. Players will be able to earn more assets from their lands in addition to the existing tasks such as completing in-game quests, participating in tournaments, or buying and selling virtual items on marketplaces. These assets can then be traded for real money or used in Splinterlands gameplay.
In countries with low economic development, where traditional job opportunities are limited, these games are becoming an alternative source of income. Players can earn more than the minimum wage in their countries by playing these games full-time, and some have even formed guilds or teams to maximize their earnings. However, like any emerging technology, there are risks associated with play-to-earn games like Splinterlands. Players should be aware of the risks involved and take necessary precautions before investing time and money in these games. In this post, I will share my 2-year experience with the Splinterlands game and hope it will help the new players to invest properly with solid plans and risk management for their funds.
The underlying risks I have faced
I have a total investment in the Splinterlands game that has dropped from $2200.00 to $1500.00 and later to $1100, indicating a need for rethinking the nature of the crypto space which is very vulnerable. However, the continuous asset accumulation in Splinterlands makes me able to compensate my losses significantly through quests and rewards. In my opinion, such dumps and pumps are normal in the crypto space but I want to emphasize the importance of considering official announcements and the community's ability to handle the game economy in the bleeding time of the crypto market. And Splinterlands did an amazing job in this perspective.
As cryptocurrencies and digital assets are known for their high volatility, which can significantly impact earnings for players. The price of DEC and SPS has fluctuated significantly, with some cards losing a significant portion of their value. However, the NFTs market is also volatile, especially for play-to-earn games like Splinterlands. But consistency and patience can overcome all these issues.
Time management is crucial for maximizing rewards, but many players struggle to manage enough time to play regular battles and tournaments. I also face such problems and can't finish the 24-battle on a daily basis!
Blockchain technology is generally considered secure, but it is not immune to hacking and cyber-attacks. High-profile incidents involving crypto exchanges and blockchain-based projects have resulted in the loss of funds. I lost some of my SPS from binace chain in my earlier days.
Doing well in blockchain-based games requires significant investment in time and resources, and there is always the risk that a game may not be successful in the long run. To maximize earnings potential, it is important to become an expert in the game, learn about the best strategies for earning rewards and winning battles, and stay up-to-date on new updates and changes to the game.
How to survive the loss and plan for the future
The value of my card in Splinterlands has dropped significantly and I am concerned about further losses unless something is fixed. I can still remember I have lost almost 70%-90% of value of some of my purchased cards! To survive this situation, it is crucial to make a good plan with practical observation and experience.
Avoiding impulsive decisions is very important and be calm, take a breath, and rest before proceeding. Analyze your current holdings, their performance, and the loss you have incurred. Identify which assets have been hit the hardest. This will help you make proper decisions rather than emotional ones and prepare you for future investments.
Review your investment strategy re-evaluate your plan adjust your asset portfolio accordingly, and adjust your risk tolerance level if necessary. If you decide to buy or sell your holdings to prevent further losses, do it carefully, but don't buy or sell everything at once. Instead, consider buying and selling in periodic manners over several days or weeks to minimize the impact of price volatility.
Analyze what went wrong to avoid such a big loss in the future, such as investing too much in one asset without checking its potential or following speculative hype without proper research and market trend analysis. Seek expert advice by reading useful blogs from experienced players to make proper decisions and avoid future losses.
How to make the best use of SPLINTER NFTs
To make your Splinterlands journey smoother, it is important to make a good plan with practical observation and experience. The main assets of Splinterlands are the cards NFTs which should be utilized in a proper way to make it profitable. The most effective way to use Splinterlands NFT cards depends on your objectives and preferences. Some general points of view to consider include constant playing, creating a balanced deck, recognizing each card's special abilities, upgrading cards, participating in tournaments, analyzing current holdings, re-evaluating investment strategies, analyzing what went wrong to avoid big losses in the future, and waiting patiently for further evolution in the cards market.
A good deck should have a range of cards that balance each other's advantages and disadvantages. Recognizing each card's special abilities is key to winning battles. Upgrading cards can offer new abilities and better stats, with prioritizing strengthening the strongest cards.
Participating in tournaments can help lessen losses by providing opportunities to compete against other players and earn rewards. Analyzing current holdings, and their performance, and identifying cards with strong performance can help prepare for future investments.
Always remember to be prepared for a darker period as the global economy is not on the right track always.
Splinterlands future
Splinterlands, is a prominent crypto gaming project that has consistently maintained its promises in its roadmaps, ensuring the community is aware of its intentions. A proposal to restrict bots from stealing rewards from the MODERN FORMAT was a positive development, indicating the game's player-friendly nature. The future decentralization of the game will be a community-driven concept, making it a top blockchain game. The future DAO activity will allow stakeholders to make decisions on the direction of the game's layers.
The developer team emphasizes the importance of roadmaps in the overall development of WEB3.0 projects like Splinterlands, stating that they will release their promised roadmaps as quickly as possible. The upcoming major event like LAND EXPANSION 2.0 will completely change the current gameplay of Splinterlands which indicates the efforts by the developers. Everything runs smoothly here and I am confident about the success of Splinterlands as a great Blockchain Game.
What do you think and what are your thoughts on the current situation with Splinterlands, let us know in the comments for mutual growth. Everything I mentioned here is from my thoughts as a member of the community. I hope you will find it helpful.
In my previous blogs, I have discussed the best primary TANKS from every Splinter team with their useful use in different types of ATTACKS and also in different rule sets. You can find them in the following links-
FIRE TEAM-Top PRIMARY TANKS in various rulesets in Splinterlands: The cheapest and the Best utility
WATER TEAM-Top PRIMARY TANKS in various rulesets in Splinterlands: The cheapest and the Best utility
EARTH TEAM-Top EARTH PRIMARY TANKS in various rulesets in Splinterlands: The cheapest and the Best utility
LIFE TEAM-Top LIFE PRIMARY TANKS in various rulesets in Splinterlands: The cheapest and the Best utility
DEATH TEAM-Top DETH PRIMARY TANKS in various rulesets in Splinterlands: The cheapest and the Best utility
DRAGON and NEUTRAL TEAM-Top DRAGON and NEUTRAL PRIMARY TANKS in various rulesets in Splinterlands: The cheapest and the Best utility
I hope you find some of these thoughts and discussions my thoughts important before your journey to Splinterlands. And if you have any kinds of queries, you can ask me in the comments. I will try to answer at my level best. Thanks a lot for your time and attention, I will catch you at the next one.
Have a great day!
And, If you want to be a proud member of the Splinterlands community and enjoy the magical world of hundreds of monsters and strategies for your battle where you will have the opportunity of amazing battles with some extraordinary monsters with amazing abilities that will uplift your online gaming experience to a new level. You can enter the Splinterverse through this link sign up to join Splinterlands
Thank you so much for your time and attention.
I will catch you at the next.
All the images are prepared by me from the Splinterlands and Peakmonster resources.
