My Crypto NFTs Soared from $10 to $5,000 – The Motley Fool | Candle Made Easy

splinter fragments (PLC) is the official crypto for the coolest game on the blockchain called Splinterlands.

I found this online game in 2019 while researching about crypto and trying to understand it. Splinterlands is a virtual card game. Kind of like suicide squad, if you have seen this film. You design a monster squad and your opponent does the same and then you have a fight to the death.

These monster cards are actually non-fungible tokens (NFT) on the blockchain. And while Splinterlands is a lot of fun, I was shocked at my ability to make money playing it.

Image source: Splinterlands.

A free game turned into a money maker

When you start playing Splinterlands it’s a free game. After playing for a few months and my monsters kept getting killed by strange and powerful villains I had never seen before, I decided to pay $10 per PayPal and get access to the entire catalog of monsters.

I was just having fun. I decided to pay $10 to expand my play options and get access to the entire list of monsters. What I didn’t know at the time was that the game changed dramatically after I paid my $10. I started having ownership rights to the NFT cards I won.

At the time, I didn’t know what an NFT was. This game introduced me to the concept. In fact, this is one of the reasons why you want to play Splinterlands, besides the fun factor: you will engage and learn more and more about the crypto universe.

Your NFT assets will increase in value

In the back of my mind I knew the cards had some value. But everything was in pennies, so it didn’t seem to matter much. I just kept playing for fun.

When you play Splinterlands and win a battle, you get another virtual currency called DEC (Dark Energy Crystals). You can use DEC to buy monster cards in the game market. A common strategy is to buy multiple cards of the same monster and combine them. This is called “leveling up” and makes your monster stronger. This will unlock new and wonderful powers.

It also has the effect of removing NFTs from existence and making your monster cards more valuable. After playing for over a year, I noticed that many of my NFTs had gone from pennies to dollars in price, which I found fascinating.

After playing for a year and a half, I counted up the value of my cards. And they were worth $2,000. My cost basis was still $10.

2021 was a good year for crypto

Last year the number of Splinterlands players increased dramatically as more and more people around the world discovered the game. More players led to greater demand for the NFT playing cards. And the game mechanic (merging cards to make your monster stronger) shrank the number of cards available.

The value of my NFT deck kept increasing. Two months after my first article, my cards had skyrocketed in value to $12,000. And a month later, my NFT monster cards were worth $17,000.

At that time, the NFT market was booming. Lots of people bought NFTs. Still, this jump from a $10 fee to $17,000 in assets was highly unusual.

I attribute this to a couple of factors. First, Splinterlands rewards active players who put in many hours. I’ve played hundreds of hours. And the other factor is that the type of gameplay reduces the number of NFT cards that exist from a given monster. The individual cards are becoming increasingly rare. And the dollar value goes up and up.

In 2022, the crypto market collapsed (again).

Once or twice a year, Splinterlands introduces a new monster deck to the game. The latest and greatest deck is called Chaos Legion.

Every time a new deck is introduced, the supply of cards as a whole increases and the prices increase. My card value dropped to $14,000 in early January. Later, the valuation would crash along with the crypto market; in May it fell to $7,000. Now my cards are selling for around $5,000 on third party sites.

The rapid rise and fall of my ticket prices reminds me of the stock market, the crypto market, the art market, the comic market. It’s perfectly normal for valuations in emerging markets to go up and down and then soar much higher.

Splinterlands is in its very early innings. The game started in 2018. I think this game will continue to grow along with crypto. And it’s still a lot of fun to play. Over time, my cards will become rarer and their values ​​will increase again.

Over the past year, I’ve not only come to the conclusion that crypto is a valid asset class, I’ve also started investing in it. I bought Solana and fantom and arrival coins and some others. And it occurred to me that maybe I should add a few bucks to my most entertaining crypto asset.

So I recently added some money to Splinterlands through PayPal, beyond my initial $10 cost. No need. What you really want to do is watch the game. And if you like it, be sure to pay $10 and start winning some NFT assets. It’s worth your time.

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