Why this Crypto Project will be the Next 100x Moon Shot.
With the recent success of Axie Infinity many crypto investors are looking to new up and coming blockchain gaming platforms for the next 10, 100 or 1000x returns. I have recently been looking at the market cap of Axie Infinity AXS token ($9.4B at time of writing) and trying to predict the potential gains of up and coming projects. When looking at traditional cryptocurrencies this is a helpful tool to predict the growth of tokens of similar utility. However, I don’t think that it is particularly relevant to blockchain gaming.
Gaming has different utility compared to traditional crypto like Bitcoin, Ethereum and the like. Blockchain gaming has utility in that owning NFT’s gives you a competitive advantage within the game. Owning the inbuilt game based tokens gives you benefits within the game. A good example of this is Splinterlands SPS token.
The benefits of owning SPS in game are many, as can be seen below.
You can stake SPS to earn yield rewards.
When staking SPS you also receive vouchers that give you eligibility to purchase more NFT’s through the upcoming Chaos Legion pack presale.
You also receive bonus airdrops from the presale packs purchased. These airdrops in the past have been NFT’s that are now worth up to $800.
The vouchers are going to provide on going benefits with further game releases like land, upcoming pack releases etc.
You receive a 10% discount on pack purchases when you purchase them with SPS.
And I am sure there are other benefits that I have not listed above.
If you are on the receiving end of these benefits it helps you to earn in-game crypto rewards which compound with time. Early adopters of this game have made hundreds of thousands and even millions of dollars for their time and attention to playing Splinterlands. This utility is what should be considered when looking at the tokenomics of the game.
Last year the total revenue for the gaming industry was $65 billion in the United States alone. The current market cap of Axie Infinity is $9.3 billion. Splinterlands market cap is $139 million, which is almost one hundredth of Axie.
Could blockchain gaming market caps exceed the annual revenue of traditional gaming?
You bet your bottom dollar. I am really confident this will happen and you should be aware of this. You do not want to miss this opportunity.
Much like the crypto boom of 2017, I am betting that the blockchain gaming boom will far exceed the growth we saw in 2017 with altcoins. I believe we will see 100x and 1000x gains across a number of games. Axie Infinity is already on its way and it is not even that enjoyable to play.
Splinterlands is actually fun to play and kind of addictive. It has been around for 3 years now and has had a lot of development undertaken already. SPS token has not yet been listed on any major exchanges, but with the game being ranked as the most used gaming Dapp on Dappradar with more than 3.5 times the daily users than Axie, it is not long before SPS gets listed on a major exchange. And when Binance or Coinbase lists SPS it wont be long before we see a $50 price tag for SPS.
With SPS currently being sold at $0.54 that will be an almost 100x. With the benefits of staking SPS at a 52% APR and the compounding effects of re-staking your SPS. I would not be surprised if we see 200, 300 and 500x gains for early adopters of SPS.
Not to mention you can also get free airdrops of SPS for the next year if you hold in game assets like NFT’s and DEC another in game crypto within the Splinterlands ecosystem.
In summary, get on the SPS train. The way we are looking at tokenomics for blockchain gaming needs to consider that the money inflowing will be not only from investors like traditional crypto, but it will also be compounded by the adoption of gamers who would rather spend their time, attention and money on a game that will pay them for their attention.
Thanks for taking the time to read.
I would be interested to hear your opinions on this?