Splinterlands - Very strong even after 6 years
Most of the crypto projects start with a big bang but gradually lose their audience. The main reason can be because the project does not have any further development or the developers lose interest. Splinterlands is one of the solid projects on Hive that is still very fresh and has had a lot of development in the last 6 years. I'm very glad to see the game has crossed 6 good years with so many ups and downs in both the game as well as in the market. I believe the main reason for its success is the great foundation that it has.
One of the other strongest reasons is that they are very much connected with the community and they also listen to their investors. The system is well set and there is continuous development happening in the game. Good or bad but people are investing a lot of money into the game and the game team is also continuously building and releasing new game mechanics which is what makes the game very successful. During the initial days, I found it hard to understand the game and I did not like the game so much. Later when I started playing more, I started liking the game and the best thing was how much we could earn from the game by having good entertainment.
In the last few years, I have been using this game as my passive income source. I'm no longer a regular player but I try to hold my assets tight so that there will be some good times back again along with the bull run so that I can see the value of my profile going up. So far I have been using the passive income-generating avenue in Splinterlands like renting the assets to generate some revenue. Due to the market conditions and changes in the game, there has been a big reduction in the rewards.
My primary source of passive income from Splinterlands is liquidity pools and renting out my cards and SPS. I also have a little over 100k SPS staked and that also produces some staking rewards that's close to 13% APR as per their website stats. I have noticed that the rewards are dropping down in the last few months. During the previous bull market, the value of my assets was close to 50k and I cannot imagine how good that was now it is not even 5k, and every month it keeps going down.
Some people say that the game is not very good for people holding old edition cards. I believe Splinterlands should do something about it. Maybe introducing a few side games that would use the old cards can be a good thing but reward planning and tokenomics can be a big problem even then. But I believe the team is very good and they can come up with some good reward planning. Having different flavors of the game is also a good thing to diversify. People will see a demand on the old cards and at the same time, the main game can also keep going. Let's see what good things we can get in the coming months for the old investors.