My 2022 crypto Portfolio - Blockchain Gaming - LiteBringer

In this post I want to share my strategy concerning LiteBringer, a blockchain game that is currently part of my crypto portfolio

2021 was my first year in crypto and even though it was a good year when I learned a lot about the crazy world of cryptocurrency (to quote Jongo and Taskmaster, the Cryptomaniacs), I feel like I was a bit lost without a plan. I want to do things differently this year so I'll be more careful about my crypto portfolio.

I thought it would be a nice idea to share my plans, thoughts and strategies here on LeoFinance as it might help other people who are also building their portfolios and also it's a nice way to get feedback from the community, which is very important since there are some seasoned crypto veterans in here.

This is the first of a series of posts where I'll break down my portfolio plans for 2022 into different categories. I'm still thinking about how many and which categories I'll use but I'm thinking something in the lines of "Blockchain Gaming", "Hive ecosystem", "DeFi" and "Alts".

But without further ado, since the @crypto-guides project recently released the Litecoin guide I thought I'd start with a project that's built on it.

Litebringer

Source

I've done a more detailed post on LiteBringer on my other account so if you want to learn more about the game feel free to check this post but, in a nutshell, LiteBringer is an RPG themed game built on the Litecoin blockchain.

LiteBringer was developed by CipSoft, the same company responsible for the legendary MMORPG Tibia. As a former Tibia player, when I found out about LiteBringer I thought that the game had a lot of potential given CipSoft's track record and I immediately decided to check it out.

LiteBringer's economy

As stated, LiteBringer is built on the Litecoin blockchain and uses that token in the game economy, meaning there is no such thing as a native LiteBringer token. In fact, to make the numbers more readable, the actual in-game currency is called "lite", which is nothing more than a fraction of 1/1000 Litecoin.

Differently than most Play2Earn games I know, on LiteBringer you don't get rewards for performing actions in the game such as completing missions. The only way to earn lites in the game is by selling the assets you get from missions, such as equipment, materials and even your characters are assets that you can trade.

Because of that, the game's economy is heavily dependent on having a large active player base because if there are not enough people playing, they won't buy stuff from each other and the game will die.

The problem

There is an additional catch to the game: in order to be able to send your character to missions so you can get some loot, you need to have an active subscription for each character you control. That subscription used to cost 2 lites (or 2/1000 Litecoin) for a period of approximately 30 days (it's approximate because the actual period is measured in blocks, not in time). That was not terribly expensive and most people could earn enough to pay for their subscriptions and still make some profit.

However, in November CipSoft announced they would raise the subscription price to roughly 1 Euro, which meant almost 3 times the current price at that time. That was actually their target price all along and CipSoft always said that 2 lites was a promotional price and eventually they would bump it to the equivalent of 1 Euro. They just never said when.

The problem is when they made the announcement the game was already struggling so it's needless to say that the player base was not happy at all. A lot of people quit and now the game is looking more like a wasteland.

This brings me to the final session of this post:

My strategy for 2022 concerning LiteBringer

I still have a couple of weeks' worth of subscription time in a couple of my characters so I'll keep playing until it runs out and see what happens. I don't plan to invest more Litecopin in the game though as CipSoft doesn't seem to have a way to address the obvious issues with the game. In fact, I wouldn't be surprised if CipSoft itself announces the game is being discontinued soon.

They already have Tibia, which is doing better than ever and is a big-time moneymaker for them.

Final thoughts

I think LiteBringer had a lot of potentials as it's actually 1000 times more polished than most blockchain games out there but unfortunately, the development team has not been able to turn that potential into an actual functional game. Could they still have a card up their sleeves that will turn things around? Maybe. But it might be too late for them.

Remember, this is not financial advice so do your own research before investing in this or any other projects and never risk money you can't afford to lose.

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