I Thought I Caused 6% Price Surge in @splinterlands NFT | Axemaster Goes Up 25.33% in 3 Days
This happened few days ago and I was already busy with some other work. I decided to write about the market experiences later. It all started happening after I replied to a comment from @ecoinstant on my last article on @splinterlands NFT where I was buying cheap Legendary Cards before the markets caught up. I realized that Axemaster has fallen in price compared to some of the prices I saw few days ago:
When I pressed "OK" the cards were already gone. I realized that I'm not the only one who has figured out the economics at play and started to panic buy:
Turns Out Not Everything Goes Smoothly
It was either servers having a large volume thanks to the rapid rate of doubling player base about every 3 weeks or their were others getting Axemaster Cards on their hands as it was the only Epic Card that had not gone out of print yet.
Taking Cards Off of Rental Market
After making one more NFT purchase, it was time to cancel some Cards and get them ready for Leveling Up. Axemaster was about to get very useful.
The Market Itself Was Volatile and Lively
There were many things going on in the markets as I was slowly making my trades. I did not want there to be a price surge. That is going to be a significant disadvantage as I had more purchases to worry about. See them in action:
There was even a 3 BCX card that came into the market as I was making slow trades. Obviosuly I made the obvious move of snatching it off the market at very favorable rates.
I Was Leaving Room For Luck
I lacked one more Axemaster to gain the "Close Range" ability in order to dispel the one major disadvantage of Axemaster. Since there were thousands of Cards left to be printed, I assumed I will have a decent chance.
This Was The Only Bad Move in Retrospect
@splinterlands currently has 231K Daily Active Users which should be opening at least a million Reward Chests. It is possible Epic Cards were minted to make up for Legendary Cards as well.
I Paid 25.33% More
The great news is that I have made a killing on a matter of few days on the purchases described above. How many people do you know that made and investment that gives extra 25% return in a matter of few days? How many of them remain outside of cryptosphere? How many of them have real value where you can expect a reasonable price floor along with a strong community? I know that you can get all of that on https://steemmonsters.com
Learn Your Lessons!
I did not become a great trader through my own experience. I never even bothered learning economics (and it turns out to be the best outcome as most economists are idiots believing in pipe dreams that are disconnected from the real world market actions). My trading secret is learning the fundamentals and doing case studies.
In short; I learned to become a great trader with other people's experiences. Now I am paying it forward. You have witnessed real world trading experiences, decision making and the eventual consequences of them.
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