Recent town hall meeting is being interesting effects on both the buying/selling and renting markets. Today I discuss my own experience in current rental markets and what I see ahead for its future.
Bear Market Contagion
It seems when market prices of cards are felling so are the demand for rentals. Prices for renting my cards out are at an all time low while I had added tens if not hundreds of cards into the rental market. With an average of 1500 Dec earned daily while renting out close to 1 million CP in cards. This has a lot to do with current demand and drop in reward prices.
The rewards falling in value has lead to Splinterlands leaning toward burning remaining reward cards being distributed in hopes that a curb in supply would raise demand. Furthermore the drop in value of dec and other in game tokens has essentially pulled down overall prices of cards in turn effecting rental prices to the downside.
Positives in Current Rental Markets?
The old saying where there are problems there are also opportunities. This holds true in splinterlands. For the rental market it can be a positive for those looking to rent cards or are renting currently to find bargain prices now than in days pass.
I personally have seen alpha rental prices lower than that of even chaos cards such as summoners. The demand for legacy cards are wining but potential rewards remain the same. In other words we can spend less to rent legacy cards while earn the same amount of rewards now as in the pass. The value of the rewards may have drop like everything in the bear market but the rewards earned remain lucrative now as in the past during bull runs. Essentially when cryoo po to bull run returns we can see higher values on current earned rewards.
Conclusions
There are always a positive and negative to everything. Right now since prices are falling this is a buyers and renters market. Seeing in the past how a sellers and lessors market thrived it’s understandable that we can see peaks and troughs. In the long run this is apart of market cycles. Bull and bears duke it out while we see how it effects prices.
In general I am continuing to have to lower my rental costs in order to rent out cards and earn income. This has lead me to spending less on purchasing cards. The bottom maybe or may not be in my having tasted how splinterlands bull run occurs I continue to rent out cards and buying cards for potential of renting out some more.
I remain overall optimistic about rental markets and believe once card prices stop its decline we can see rental prices stop declining too.
Until next time thanks for reading!!!
I have plenty of other cards for rent! Just go on peakmonsters and check out the market place and if you are curious what I offer here is a link:
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