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I’ve gone down the rabbithttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🐇" title="Hase" aria-label="Emoji: Hase"> hole on $WAXP and have been stacking thousands of NFT’s between R.Planet, Topps MLB Packs, KOGs, Cartombs, BTC Origins, HODLGod, ExitLimbo, and Splinterlands...
Here’s what I’ve learned...
I’ve gone down the rabbit
Here’s what I’ve learned...
Blockchain based gaming is here to stay. It’s unlike any video game I’ve played before.
When you stake your NFT’s, you mint new assets such as $AETHER, $RFOX, and many others.
These in game currencies can be sold of the underlying blockchain asset, $WAXP, on Alcor DEX.
When you stake your NFT’s, you mint new assets such as $AETHER, $RFOX, and many others.
These in game currencies can be sold of the underlying blockchain asset, $WAXP, on Alcor DEX.
What I find even more interesting is the disparity in pricing between different collections.
Since these are asset generating playing cards, there are many arbitrage opportunities between collections.
Since these are asset generating playing cards, there are many arbitrage opportunities between collections.
For example, I can sell a R.Planet card that produces 150 $AETHER each hour for let’s say $120. I can then go buy a BTC Origin card that mints 200 $AETHER each hour for $50.
In doing so, I acquired a higher revenue producing asset and made a profit on the sale.
Pretty neat
In doing so, I acquired a higher revenue producing asset and made a profit on the sale.
Pretty neat
The drops for these assets are extremely competitive, but if you can get in on them, the rewards can be huge.
Using Anchor wallet and connecting directly to the wallet node gives you a better chance of winning the race for each drop.
Using Anchor wallet and connecting directly to the wallet node gives you a better chance of winning the race for each drop.
It’s not uncommon to buy let’s say a drop for ‘land’ for $50 and being able to sell that land same day on the secondary market for $350 to $400.
This works great for pulling out your basis and staking the remaining cards, “profits”, for more WAXP to fund future purchases.
This works great for pulling out your basis and staking the remaining cards, “profits”, for more WAXP to fund future purchases.
Continuing in this loop over the last few months and I now have a sizable “long term” NFT portfolio that’s producing various in game currencies that I then sell for more $WAXP.
This is a new type of game. It’s a game of value accrual, competing in drops, selling on the secondary market, and staking profits.
I’ve personally had a blast learning about this new type of crypto experience and seeing each project innovate on each others previous success.
I’ve personally had a blast learning about this new type of crypto experience and seeing each project innovate on each others previous success.
The creator economy is thriving in niche markets outside of NFT’s issued on $ETH, which are mostly digital art. $FLOW is another great example, but I’m not as involved there.
I’m bullish the creators on $WAXP as more utility, such as Street Fighter and Exit Limbo, provide similar battle-like experiences to @splinterlands who is king across HIVE and growing quickly on WAXP.
@splinterlands didn’t get the attention it deserves in this post, so I’ll make a thread specifically on that game. It’s by far the best video game experience in Blockchain. When you give it a try, you’ll wonder why anyone is buying the likes of NBA TopShot.
More 2 come...https://abs.twimg.com/emoji/v2/... draggable="false" alt="🎮" title="Videospiel" aria-label="Emoji: Videospiel">https://abs.twimg.com/emoji/v2/... draggable="false" alt="🎰" title="Spielautomat" aria-label="Emoji: Spielautomat">
More 2 come...
LOL reading the above and I’m seeing all the grammar mistakes... my bad... beers will do that to ya https://abs.twimg.com/emoji/v2/... draggable="false" alt="🤦🏼♂️" title="Mann schlägt sich die Hand vors Gesicht (mittelheller Hautton)" aria-label="Emoji: Mann schlägt sich die Hand vors Gesicht (mittelheller Hautton)"> wish I could edit some of the above now, but oh well... will proof read next time
