Is Splintershards (SPS) governance token of Splinterland's game is grossly undervalued?

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Is Splintershards (SPS) governance token of Splinterland's game is grossly undervalued?

Splintershards (SPS in short) is SPlinterlands governannce token as announced here and look like after a strong start and even reaching value of 80 cents in past few days, SPS started to slip down contrary to the popular belief that current 10% discount while buying chaos legion packs presale will drive it's price to a higher level.

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At current Ask price, SPS is trading below at 55 cents per coin in Hive-Engine .
Though everything exploded in Splinterland's ecosystem from price of cards, price of DEC and number of players signing up the game daily but look like SPS is not making a buzz as such. Even Voucher(https://hive-engine.com/?p=market&t=VOUCHER) that are currently airdropped on the basis of staked SPS is now getting close to $20 and might go more high at last days of presale.

Why I think SPS is undervalued currently.

When I check the current games ranking in dappradar I get below picture.
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Source

So it means Splinterland is already ahead of all other games and it is still attracting more players.
I find Axie Infinity has also have governance token [AXS] (https://www.coingecko.com/en/coins/axie-infinity) that is pretty nicely sitting at market cap of $10 billion (10031662301) at the time of writing this post. Even I assume that all 3 billion SPS in circulation, it still put the value of 1 SPS at $3.33 and in case of current supply of 311 million it should come around $30 per SPS. Clearly 55 cents price is nowhere near to $30.

Why SPS might be so undervalued?

I guess there are majority of factor but most prominent I think that SPS is relatively new token and apart from giving staking APR and Voucher airdrops it is not integrated in game mechanics as such that encourage player at every level to hold SPS.

SPS currently need more usecase and I guess they will be developed with time after team settle with chaos legion presale.

Most of the SPS (till July 2022) is getting generated by airdrop and that sometime dumped too cheap.

Most easy way to accumulate SPS.

Currently cheapest way to get "airdropped" SPS is to buy DEC and let it sit in your account to get daily SPS drop. You can use this tool to calculate for the airdrop of the value of SPS.

Where to buy SPS?

If you are interested in buying SPS then you can buy it from various places and exchanges. You can buy it in Hive-Engine/tribaldex pool if you are already in Hive. In BSC chain you can buy it in pancakeswap or use Cub defi Kingdoms to swap with BNB.
In centralized exchange you can use Gate.io and it is also available in LBank.
So there are plenty of option for buying SPS.

Interested in playing Splinterlands?

If you want to play splinterlands then you can join it here

If you have any difficulty in playing game, do not hesitate and join the game discord. It is really helping community and contact me here or on discord, I will definitely review your game for your better game experience.

Disclaimer: This is not financial advice, DYOR. I am avid splinterland's player and own multiple digital assets in this game.

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25 comments
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Things will change eventually. SPS airdrops are indeed a reason why it is so low.
If it had the same marketcap as AXIE, it would be at 57$. You can check this tool:
https://www.marketcapof.com/axie-infinity/splinterlands
Eventually, airdrops will end and also SPS should be listed on some major exchange eventually propulsing is value and you'll be glag you bought a bunch at 50 cents.

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Got below from coingecko.

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So tool calculated on basis of Circulating supply of SPS and I calculated on basis of total supply.

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Thanks for including the link for calculating DEC to SPS drops I've been wondering how DEC is calculated in proportion to airdrop. I think SPT is a quarter of one's entire SPT holdings based on the rough estimates I did

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It is too early to judge at SPS it is still have time after airdrop to gain more green candles

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I'm very happy for sps price now and I will be able to bag some and hopefully the price skyrocket after the airdrop

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I am sure..next year will not be same. build your holding today is a good option.

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Imagine the day when SPS get's listed on Binance, Huobi or Coinbase? I think it's quite difficult to define a correct value of the token and I believe that will all come down what you can do with it. I'm sure that the team is already having interesting things in store. Just imagine that you could need sps to move goods around once the land expansion is on... It's very early in the game and we are lucky that we can accumulate quite calmly our tokens now :-)

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Play2earn and SL both are going strong. It is really possible that it get listed on big exchages.

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Just wait....

I'm betting on this - that you'll need 50K SPS per plot staked to give you the maximum chance of minting something nice/ yielding at the optimum level - once land goes live.

You'll be able to do something with land for a lot less of a stake, but I'm guessing the more you have staked, the better your returns and this is how they'll encourage a healthy lock up going forwards.

One of the ways at least.

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Once land come in picture and become fully operational SPS might can do 100x from here.

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Agree with your point. I think next year it will be trading over 1usd easily.

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yep, it is probably due to the ongoing airdrop and the still few usecases.

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Ive been accumulating SPS since i started game in August, very happy as a new player im close to hitting 9k Staked SPS now!! Cant wait to see in a couple years!

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