Am I missing something? It was about 15 months ago when I was writing about Accumulating Chaos Legion cards and sure, in hindsight, that was pretty close to the last market peak. Back then I was looking at the number of packs remaining and predicting that they would probably sell out in 6-7 months.
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Well, it took a bit longer than that due to the Bear Market in crypto that we’ve all experienced but the Chaos Packs are finally SOLD OUT. There is still a decent amount of packs slushing around the secondary market and they’re available as rewards for playing (well they were the last time I played) but they are basically out of stock. That's it. No more. Nada!
In the past when a series goes out of print it’s often only a matter of time until scarcity kicks in and the prices start to climb….but not this time. If you look on Hive Engine you can still buy Beta Packs for about $33.65 and the Untamed Packs are going for $17.90 while the Dice Packs are about $14.35. All of these prices are significantly higher than the initial purchase price. From memory they all started at $4 or maybe even cheaper when they were first released.
So what are the now out-of-stock Chaos Packs selling for? A paltry $1.39 and NO I did not get the decimal place wrong. They are selling for peanuts and well under the previous issuance price of $4. Can anyone explain this to me? I personally have been scooping up packs every week as I watch in amazement while the market continues to tank. Maybe I’ve overlooked something or maybe the market has just become so depressed lately because of the Bear Market that players are dumping their hard won packs as soon as they win them.
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To me it looks like it’s worth a bit of a punt and I’m more than happy to keep buying at this price but maybe someone can wise me up?
Some of it is probably from the bear market but mostly it's becuase they over saturated the market with card packs. They were thinking the growth of splinterlands was going to be much more and put out 15 million card packs that they expected to sell out fast. It took over a year to sell out, during that time the bear market started and everything went south.
If you ask me they ruined this game by allowing bots and compensating things in the game around the use of bots.
I stopped playing ranked battles and only do brawls now so I don't have to deal with playing against bots.
The bots are annoying, but they've also been around since near the start and were prevalent all through the bull run in 2021. I'm a bit surprised how competitive they are because human players with a decent deck should be trouncing them. I guess that's only going to get worse as they get smarter.
The bots are just getting better, that with more rule sets make ideal card positioning more complicated. I've noticed the last six months that the bots are really getting good!
A pack is only as good as the monsters it contains.... one could make a case that any potential "pull" just doesnt add much "punch" to a competitive lineup.
OR, as you said, bear market. Im going for bear market!
Very true, but you don't know what's in the pack until it opens. Any of them could contain a gold foil legendary.....
That's what you're really buying with these packs - A chance at a big score.
I don't know, maybe when rebellion comes out, then the CL can finally get the value it should. I don't know, I'm just saying. However one thing I'd like to point out is that the CL were mostly burned while the other generations sold out. However, it's probably wise to accumulate, as we're still in the bear market.
This is a good point and maybe it's the part I am missing. Or maybe it's a perception issue and because they were burned they aren't considered of value. Scarcity is scarcity I guess and while CL isn't exactly scarce at the moment, once the market has time to soak them up then in time they may become a bit scarcer.
Exactly, the market is bound to do it's thing in due course, however I think CL wasn't treated well or as good as other generational card and this is why the disparity in value
Pretty bloody cheap atm. I think it'll just stagnate until something changes. Land might add some more value and make them more valuable. Not a bad idea to grab some whilst they are so low. I think SPS is pretty cheap too, but who knows where that goes in the future. It'll stay cheap whilst it is still being minted.
The land thing is a potential shot in the arm for the entire ecosystem and if it draws a new player influx then Chaos Legion is surely the cheapest and easiest way for them to get going....?
It's probably a good sign to buy more packs and not look at what other people are doing. We are all running different lanes remember? Playing different ball games as it is.
So, your movements in the market might not make sense to anyone else but you, but, hit the ball running as long as you know what you are doing and why you are doing them.
Yes, I am normally very happy to run my own race and be a contrarian, but this one was so glaring that I thought I might have missed some important detail.
Pack prices are reflective of the card values. CL cards have dropped so much in value recently with all the changes. Personally, despite buying and opening quite a lot of packs, I would recommend buying the cards you need instead as pack openings are basically a gamble. Unless ofc you are like me, a gambler :D
Well, I AM a gambler but my thinking behind buying the packs was to sell them unopened at a future time when Splinterlands has another influx of new players trying to build decks....
That's gambling too.....lol. The prices are so low on the CL packs, I am even thinking of buying more to average down my pack cost. Sounds like a death spiral to me though....
I don’t know, I’ve never played.
I personally can't tell you any reason for this price dump, I can only predict, in the bear market, people lose their interest and they start to sell, and there is fear that the price will go down more and that is why it keep going down.
I think just the sheer number has kept the price down. When they start to thin out we will see some price increases, but it will take a very long time. I'm not hanging onto any personally and in the end I may regret it, but it just looks like such a long haul right now.
This is a very useful guide; thanks for sharing.
The way we're seeing it now is that the whole market is starting to come down again, which is why the Sprinterland stuff is also coming down in price and at the moment if it's said that It's a good time, you have to buy them. I'm starting to buy his stuff myself and wait for the next bull market because it's been a year now.
I also think that buying CL packs now at low price is good idea and I do sometimes and hold.
Buying and accumulation in the dip is the good strategy but the cards should be well researched before buying.
I really don't know much about this but am pretty sure it is going to be a good idea to buy more pack.
Time to buy more packs
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I've been wondering the same thing...
I think once the CL packs can no longer be earned then we will see a slow increase is the price, however, I don't see the price going above $10 ever since there are so many CL cards on the market.
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