The crypto market seems to be bullish at the moment and that should translate into some effervescent action also within Splinterlands. But instead of just spotting an uptrend or something alike, I think it is important to take a look beyond the numbers driving the game activity and try to see what these are telling us. That's because while some tokens or assets might be on an uptrend, that might not be the entire story they are telling us or the weight we might want to believe. And in order to have a broader view, the analytics on SPLINTERLANDS activity will be checked for a period of 6 Months. That should give us a good feeling of what's happening overall and not just now when we might be around some temporary hype.
Before getting into the Splinterlands stats, I think it is worth mentioning some big events happening as we speak. First of all it is the hype built around Land with the surveying unleashed and Keeps and Castles popping here and there. And the lucky explorers that got such rich lands (I got a Keep from 10 plots), are seeing this go on the Market for thousands of dollars. On top of this the crypto market itself is in a bullish movement which hyphens the optimism and the feet's don't touch the ground feeling when thinking of where the prices might get to. These events are shaping the latest Splinterlands trends, but we'll try to look at them using some clear numbers behind them.
New users conversion
In the past 6 Months, Splinterlands saw 52,545 signups with an average of 288 signups. While this should be encouraging we can see that only 3,635 Spell books were purchased which might mean that the new user conversion rate is pretty low. The usual spell books daily purchasing is hovering between 20-30, while there are some small spikes like the one from 11 April 2023 where around 71 registered ended up with players that can earn rewards. This needs to go way up if we want to see the user base grow and increase the demand for the game assets.
Tokenomics
The tokenomics from the game mostly refer to the DEC (Dark Energy Crystals stablecoin) and SPS (Splintershards governance) tokens. There was a major push from Splinterlands team to re-peg the DEC stablecoin and it looks like they might get there with $0.96 for 1,000 DEC (compared with $1 for 1,000 DEC). The SPS makes much smaller moves and while I got used to see it under $0.03, it seems that lately it started capturing more value and that to be reflected in the price as well - $0.031 per 1 SPS. This shows that the tokenomics improve and this might happen at the right time in order to have a good run when the bull market truly hits.
These are all the dimensions on which I tried to bring more insights from just the numbers and I think there is a positive trend in both of them, while it is clear that we need more in order to retrace the glory from the past. Still, Splinterlands continues to grow and develop and the Land direction will surely bring a new serious wave of mechanics in the game. And with that I believe we will see more value captured by the assets themselves which in an effervescent market should push the prices up as well. Roger out! ;)
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