SPT New Use Case Coming?
In the past couple reports I made on the SPT Splintertalk token I kind of went about it as it it was kind of dead with no further use case in sight aside from the curation on Splintertalk.io which at least gives it some value and a total market cap that dropped to 32k Dollars. This by now almost doubled to 60k after a potential new use case was semi-announced in some of the Town Halls.
From what I understand, there will be some new guild building and instead of burning DEC into them, a mechanic where in-game assets need to be staked (so they are not lost) levels up the buildings. There was talk about staking card packs (so less of them get opened reducting the card inflation) and also SPT which would make the demand increase giving more incentives for players to blog about the game as SPT can actually be put to use aside from potentially earning more SPT.
This feature however is not implemented yet so there could be a further increase of the price even though I doubt it will ever reach it's 0.016$ highs again also because the inflation remains very high
The daily chart saw a crazy candle spike I assume on the day when it was mentioned in the town hall as there is little liquidity. Things came down a lot again however to the point where the price is close to double to what it was 3+ months ago when there was no signs of an extra use case.
SPT Market Caps & Inflation
This is the overall evolution of SPT so far since I started tracking it.
| Date | Price | Market Cap | Supply |
|---|---|---|---|
| 10/02/2021 | 0.000280$ (-) | 19,318 $ | 68,905,727 SPT |
| 22/04/2021 | 0.000310$ (+10.7%) | 23,123 $ | 75,621,474 SPT (+9.74%) |
| 04/08/2021 | 0.006190$ (+2000%) | 460,895 $ | 85,561,680 SPT (+13.14%) |
| 05/09/2021 | 0.015930$ (+257%) | 1,425,000 $ | 89,454,000 SPT (+4.55%) |
| 18/02/2022 | 0.003110$ (-80.5%) | 387,350 $ | 124,550,000 SPT (+39.2%) |
| 28/07/2022 | 0.001000$ (-67.8%) | 152,244 $ | 153,782,658 SPT (+23.5%) |
| 11/02/2023 | 0.000168$ (-83.2%) | 32,183 $ | 191,566,068 SPT (+24.6%) |
| 19/05/2023 | 0.000283$ (+68.6%) | 60,410 $ | 213,239,755 SPT (+11.3%) |
So the price right now is about the same as it was 2+ years ago when I started tracking and when I accumulated most of by bag, yet the market cap is 3x as high due to the really high inflation which is where the returns came from. Right now, it's quite crazy to see that the market cap of SPT was well over 1 Million at some point.
Personal Approach
My approach since forever has been to keep the 2M SPT I own staked and delegated to @monster-curator for passive curation returns. This is after I took some profit way back when the token pumped (see older posts). So regardless what happens with SPT, it has been a good investment for me even though I could theoretically have dumped the top and have gotten way more out of it.
I keep getting roughly 1000 SPT daily as part of the @monster-curator curation rewards which is just 0.28$ and right now I just continue to accumulate them with an eye to possibly help out my guild once the SPT staking feature goes live. If I had spare funds I maybe would look to start buying some at the current price but at the same time, I'm already overinvested in Splinterlands with many ofter coins to accumulate that are higher on my list.
Conclusion
Its nice to see some movement again in SPT since there is talk about it getting another use case in the Splinterlands ecosystem. I do believe it potentially makes it attractive again as the high inflation is offset by the curation rewards while potentially the demand will go up as the new use-case is in place. The next update will likely be after this all happens.
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