Splinterlands - Huge drop in the rental earnings
Splinterlands is still one of the best games on Hive that is sustaining for several years now. They have good gameplay that would even last for a few more years. I hear from people that the game is not highly rewarding but at least it is rewarding enough compared to the other games we see. We all know how bad the bear market is and I personally have experienced the good and bad markets when the good market states the crypto industry would bloom again and the good times will start again. Until then we have to be a little patient.
I try to be very patient but for the past few months, the bear market is definitely testing us. It used to be very good before the CL packs but what to do, the new players needed more cards and that reduced the value of existing cards and demand for the existing cards. For the past few months, I have been observing that the rental income has reduced drastically. I used to get a lot of DEC from rental income. Especially when the rental system was introduced, the rewards from rental income were over 60k DEC per month.
Every month I rely only on the passive income I get from Splinterlands. I'm not an active player. I'm only an investor who invested long back and trying to get some passive income from my assets. It used to be very good and earn me close to 50$ a month once upon a time but it is not even giving 10$ a month these days. The rental earnings have gone down because the demand for renting is very less right now because there are many new cards available. I'm not even sure if my old cards are even required or not because some of the new cards might still be doing very well and people might want to rent those new cards instead of renting old cards.
I was able to see that I earned close to 3.8k SPS in the last month from both staking rewards as well as diesel pool rewards. I think it is a decent amount but only if the price of SPS is good. I hope soon the price of SPS starts pumping again. As decided last month, I started moving my SPS earnings to the Diesel pool. I know it is not doing great but I don't want to keep the amount liquid either because I personally think that this is not the right time to book profits. I pushed all the 3.8k SPS to the Diesel pool.
Last month I thought I should start selling all my SPS after reaching the goal of 100k SPS but something makes me feel that SPS would start pumping again and selling it right now is not a wise option. I did not want to keep them idle on Hive Engine and that's why I wanted to move it to the Diesel pool.
I currently don't have any other option than keeping the cards rented out because something is better than nothing. Keeping the cards idle is not going to give anything. At least I can rent them out and earn something out of it than not renting it out.
I usually check the account worth with the help of the discord bot. One of the best things about checking this is that mostly the value is pretty much the same and there is no huge difference every month. There will be a slight difference but not significant. The account value would still be pretty decent I would say. Maybe from next month onwards, I should start purchasing some new cards that are in circulation. It might be a good opportunity to grab them at a cheap price.
If you like what I'm doing on Hive, you can vote me as a witness with the links below.
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