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(This is a HIVE cross-post)
Most of you have probably noticed by now, but the price of SPT went up a lot over the last few days. After the introduction of SPS this is the second time that we see such a big boost in the price. Great news... at least for those of us who hold some SPT.
Why did SPT spike?
If you ever use splintertalk.io you should have noticed that the UI got a nice update. With that it also got some additional functionality.
The biggest change however, is the fact that you are now able to buy NFTs on splintertalk and you can anly use SPT to buy these.
These NFTs are splinterlands related, but they have no in-game function. Even though I prefer to invest in functional NFTs I have to say that these look really cool.
The inclusion of these NFTs definetly had a big impact on the price. It's not only the fact that you can buy NFTs with SPT, it's also the fact that SPT finally got additional utility.
Sure, after the introduction of SPS SPT had the utility of having "airdrop value". However, it's not really SPT-specific, it's splinterlands-specific. You could simply transfer your SPT to DEC or power and you would get the same benefit. With this new update we finally have some real SPT-specific utility next to getting rewarded to talk about splinterlands.
Will more utility be added in the future?
So, does this mean that more utility will be added in the future? As usually, we really can't know for sure. This update definitely means that more utility can be added, and in the long run, I think it's likely that this will happen.
That being said, I don't think it's something to hope for in the near future. However, I do think it's good to remember that a sudden update can add utility and utility can create a price spike.
SPT price prediction
Predicting stuff is always tricky, remember that this is only a personal opinion and I am by no means an expert.
I think that SPT will drop down a bit and stabilize at around 60% of the latest peak price. There are a couple of arguments.
- I think there will be no additional updates in the near future.
- There are better alternatives if you only care about the SPS airdrop.
- Total utility is still limited.
- I feel like there will be a money flow from spt to sps and chaos legion packs when chaos legion comes out.
I have often been right about stuff like this, but I have also been waaaay off... Something to keep in mind. Anyway, if something unexpected happens another price spike might just be around the corner.
Will SPS spike when utility gets added?
So we have seen a very nice example of what can happen with the price of a token when utility gets added. So, a very valid question would be, will this also happens to SPS?
My answer: I think there is a very good chance, but there are a couple of differences aswell.
Everyone anticipates the SPS utility because it's a governance token and the splinterlands team has been very clear about SPS being needed to get into the chaos legion presale. There will be less unexpected utility. That being said, people might still buy SPS right when the presale voucher are starting to be handed out.
I do expect at least a small price increase, but I'm still keeping 80%-90% of my SPS staked.
Conclusion
Splinterlands, splintertalk and SPT are awesome!
However, buying SPT right now is not something I would do, but it's a great time to start blogging because the SPT rewards are very high right now.
Also, simply being active and voting on posts can be very rewarding at the moment - as long as you have a decent amount of SPT staked.
I noticed that my SPT vote value went from 20 to 60 in 2 days, pretty nice!
Want to earn more money with blogging? Start cross-posting to publish0x!
