Splinterlands Rental Income turning Green?!?!
Good morning Splinterfriends!!
As many of you know... but many of you may not... I am very passionate about the Rental Market Aspect of Web3 gaming.
Who is in charge of these GIFs?!?!? They are getting sacked for sure!! Note to self... Fire someone.
Anyways... I am passionate about the Rental Market for Web 3 Games because I have played Video Games since I was a kid...
I have played Magic The Gathering for many years (not lately though 😭)...
I played Magic Online when it first came out and guess what - it was Web 2.5ish!!
I played Diablo 3 with the FIAT Auction House before the SEC stepped in like the bunch of dickbags they are... that was Web 2.5!
I have been waiting my entire life for games like Splinterlands to come around!!!
One of the best parts about games like these were the ability for the PLAYERS to own the assets... who could then Rent them out to other... PLAYERS!!!
No more "I am Blizzard Overlord... BOW BEFORE ME MORTAL!!" - the power was now to be shared among the PLAYERS. To me - that's amazing!! OMG IT'S AWESOME!!
Unfortunately... with the way things went... the rental market did not fare so well throughout the Bear Market... especially for us Chaos Legion Cucks.
However, among all my character traits... flaw or strength... I am STUBBORN. If I believe in something I will pursue it with zealot like determi--
Anyway... back on topic... I had noticed bots were using 1 BCX cards to load up and play lots of battles in Wild. I wanted to do my part to help stymie the bot army and at the same time... protect the pockets of the people who were renting assets (like me).
I was tired of the ship sinking. I was tired of the diminishing returns. I was tired of logging in day after day to see the Red getting REDDER.
Then... a thought came to me... wait a minute... if bots are renting at .1 DEC/day... but the fee to list is 1 DEC... Why don't we make the Floor 1 DEC/day to equal the list fee so if a card rents ONCE... it is profitable! With the .1 DEC/Day a card hard to rent out for 10 DAYS before going Green. With so much competition (flooded market) many sat for their entire 60 Rental Period, didn't rent and were removed.
This change would help profitability/returns ... and also increase the cost to bots by 10x!
This seemed like a great idea... I mean... the primary argument was "but bro... trash cards won't get rented..."...
There are some cards in every game, card set, collectible, WHATEVER... that are just TRASH... You can barely give them away. This is just part of it.
HOWEVER... If Level 1 cards now rented for 1 DEC... then... L2 should be higher... or L3 or whatever... and if someone had a bunch of 1 BCX cards they were renting... they'd be inclined to LEVEL THEM UP - I remember being told this was a GOOD THING...
So... what did I do??? I set out to collect data, naturally!
I made an account named @pointonedec and stuffed it full of 1 BCX cards that Bots seemed to love.
Then I set them all to rent and guess what... THEY RENTED! I was getting 60-70% ROI Rental Income on this account!!
This proved Bots were extracting lots of value via 1 BCX Rental Swarm... so what happened next???
I drafted and submitted this proposal: Original Proposal
I wanted to increase the arbitrary Rental Floor from .1 DEC/Day to 1 DEC/Day to match the List Fee, ensure profitability/returns and deprive the 1 BCX Bots a lot of their profit.
However... even though my proposal passed, other measures to kill the bot horde were also coming down the pipe...
Some people like the Wild Pass... some people HATE it... It's whatever. But guess what happened to my proposal, even though it passed...
Card prices continued to decline, Rental Income was almost non-existent, I combined and moved most of my cards from pointonedec, I barely rented cards on @splintermart... all in all the Rental Market seemed like a derelict of the past.
So much money, wasted. So much time. Effort. Hope. It seemed to be yet another failure on my part 😒
Like a sneak attack from a Rogue or an RKO... the 1 DEC/Day Min Rental Proposal came outta NOWHERE a week ago!!
Have you seen Rental Prices lately? Have you seen your ROI? Have you seen the effect it's had in just 10 days??
What little remains on P1D is almost 100% RENTED. As you can see, some of the .1 DEC cards were still renting out, hence the .4 lol - I'm not going to cancel them, that would just be rude.
Once they end the rental though, they will be ineligible to be rented at that amount though and I will update them.
With that being said - I have been very, very vocal about this for a long time. Unfortunately, after waiting 8 months for implementation, another Rental Market proposal is hot on the heels of this change.
Personally - I hate changing too many variables at once... it muddles the results... but we can clearly see the effect it is already having on the market!
Now - due to some great work by @bulldog1205 we can see that people were using the Rental System to extract more value from the system than via ownership... in addition... spamming the 2 Day Rentals is causing extra workload and thus extra server requirements... which translates to: Extra Expenses.
The Splinterlands Team has done a great job at mitigating expenses over the past year+ and continues to do so!
The new proposal is to change rentals from Daily OR Seasonal... to Seasonal Only at 1 DEC/Day: Season Only Rentals
At first, I didn't understand/like this due to how close it was to my proposals implementation...
But it makes sense...
With Land, you need Season Rentals in order to use them as Workers... and Land 1.75 is right around the corner.
With Survival... You're gonna need them to recover, right?
With Ranked - what's worse than renting a bunch of cards for 5 Days... only to find out day 4 you lost a bunch due to "cancelations"... although I suggested how to solve that issue simply (moot point now)...
Brawls were a bit of a hang up... but honestly... With a 14 Day Rental, you'll get 4 Brawls worth of Play... so that's not terrible.
Tournaments... I dunno... I don't play a lot of Tournaments but people are saying this will negatively effect Tournaments.
Maybe we could offer Daily Rentals from the @SPS.DAO Cards - that way the DAO is the only one able to create Daily Rentals... and all the proceeds would fund the DAO and Tournaments... as I type this... this actually seems like a cool idea... 🤔
@nateaguila - what if we had a "Storefront Page", like Gwen's Glint Shop... but it was a "Rental Marketplace", with filters like the actual marketplace tab... and you could rent cards from the DAO here... It would be awesome for people to rent Tournament Staples for Daily Use (2 Days? 3 Days?)
In order to prevent competition with the "Player Owned Rentals", going forward after the Season Rental Only Proposal likely passes... the DAO could be limited to "Daily Only" (2-3 Days), whereas the Players would be able to put up Season Only Rentals!!!
The more I think about this... the more I like this idea!!!!
1 DEC/Day Rental Floor is doing what I thought it would do and for the first time in forever...
- Rental Price Floor is now 1 DEC/Day and it looks like I was right.
- Season Only Rentals coming soon - vote for the 1 DEC/Day!
- New Idea!! After Season Only Rentals - Perhaps DAO can do Daily Rentals (2-3 Days) to help New Players and/or Tournament Rentals??? Profit for DAO/Company!!
- RENTAL INCOME HAS TURNED UPWARDS FOR THE FIRST TIME IN YEARS AND I AM SO HAPPY (card prices will follow) 😭😭😭
That's all I have for you today folks!! Thank you for reading and I would LOVE for you to join me in game!!
Naturally, after everything leading up to this moment, I do think Splinterlands and Soulkeep are some of the BEST web3 games out there!
They bring the #play2earn feature to the forefront of development as well as many opportunities for people to earn rewards - whether Player or Investor!!
If you're interested in the future of gaming, it's worth checking out!
You can sign up here: Splinterlands
Cheers 🍻,
- CaptainDingus
#Splinterlands #Hive #Soulkeep #play2earn #web3 #NFTGaming #Rebellion #Conflicts #TowerDefense
Thanks for sharing! - @azircon
I hope the seasonal only rental options doesn't pass.
More options is better than less options. Players renting and testing a card they like or want to test before purchase shouldn't require them to rent for a full season. The daily rental allows for such.
As for cancellations: markets will work that out.
Meaning those renting should take notice of such actors and skip renting from them.
1 DEC Floor was a great idea and cleaned up allot of listed cards that weren't renting.
Thanks buddy!
I am fairly certain I followed you before... but somehow it said I wasn't... that's weird.
Anyways... I followed you back! WOO!!
Funny enough, I had the same thoughts when checking to see if I was already following you or not. It was a surprise to me that I wasn't. Something that was easily amended.
Cheers,
!BEER
Funny enough, I had the same thoughts when checking to see if I was already following you or not. It was a surprise to me that I wasn't. Something that was easily amended.
Cheers,
!BEER
I think Hive just randomly decides to "unfollow" people
It's making sure we're paying attention or something lol
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BEER.Hey @captaindingus, here is a little bit of
BEERfrom @rentmoney for you. Enjoy it!We love your support by voting @detlev.witness on HIVE .
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Nice article again Captain! You make some really good points and its helpful to those that haven't been paying attention as closely. Glad to see you get the big upvote, you deserve it!!!
Thank you Dave! I am very passionate about a number of things and in this game - the Rental Market is one of them!
!gifu
Congratulations on the success of your proposal,@captaindingus!This post is a fantastic example of how community involvement can lead to positive changes in the Splinterlands game.Thanks for sharing your insightful analysis and your persistence in advocating for this change.
For what it's worth, I don't think the 1 dec floor is going away:
https://peakd.com/hive-104500/@clayboyn/sps-poll-should-we-alter-the-rental-floor-for-season-rentals
As an aside, I don't personally think the DAO should be competing in the card market at all. I'd prefer the DAO didn't even hold packs to be honest. The DAO has plenty of ways to use its holdings to generate passive revenue and some of those are already working (LP rewards) and I have some more ideas for the future (having the DAO take over bridging + payment processor through DAO LPs to drive more value).
No matter what we do someone isn't going to be happy. I get the pain of brawl/tournament renters. I also think we need to genuinely ask the question: "what is the point of an account that never owns anything and just rents?" I think in many cases (not all) the entire point of full rental accounts is to get out more than you put in. Whether that is with the intention to grow the account or not is irrelevant, because if it can be done by anyone, it can be done more efficiently with bots that don't need as much incentive and that can scale massively. It just is what what it is I suppose. It looks like season only rentals is happening at this point regardless of any of our thoughts on the matter.
Interesting!! Cool you thought of this and decided to stick your neck out for the cause. Regardless of what it turns into...Just the idea of getting the rental market (and yeah the normal card market will follow then afterwards) back on its feet again. Heck yeah!