The concept around Splinterlands revolve in true asset ownership through the innovation of non-fungible tokens or NFT. And throughout the years, hundreds of card NFTs have been created and played by players. And through the open market, a robust economy of card trading has been established and persevered through different cryptomarket conditions. Thousands of dollars worth of assets are exchanging hands every day and every players can participate and potentially proftt from these transactions. But first, a word of caution that this is not a financial advice as with everything in the open market, you can also lose in a trade.
How to Earn in the Card Market
Like trading any other commodity, earning in the card market is very simple, buy low and sell high. Now the hard part about it is having patience. For this article, I would be using Peakmonsters' interface as I find it to be the most professional looking, although there are also trading providers that may give additional bonuses for transacting in their platforms.
If you look into the cards posted in the marketplace, you can see two values, a high bid and a low buy. High bid means the highest amount a buyer is willing to pay for a card while low buy means the lowest value a seller wants for his or her card.
Let's look at Risqruel Drath as an example. The low buy is 14.55 while the highest bid is 11.85. There is a spread or price difference of 2.7 dollars between the two values. This means that if you bid at 11.85 and someone agrees to sell it to you at that price, you can then put it in sale for 14.55. When someone else buys it from you, then you gain profit of 2.7. But you also have to remember that there is a transaction fee of 6% for every sale that you do so you also need to account that value into your total cost.
Patience is the Key
In this kind of environment, having a ton of patience is needed. You may cast tens of bids a day and not get a buy. Some players or bots may also constantly outbid you if there is a good deal. You may also get stuck with cards that you bought for a high price and the market value suddenly drops sharply, or no one buys it from you. Your capital will be tied to those cards as well.
Factors that Affect Card Prices
There are also fundamental events that may sway the tide of a card's value and popularity. For instance, the modern format is constantly changing every few years. A new card may also be released that synergizes well with an older card, or it may completely make the older card functionally obsolete. These are just some of the factors that traders may also need to consider and constantly be on the lookout for.
Overall, the card market is a complex economy. You might even say that it's like another game mode of Splinterlands. It may not be for everyone especially if you don't have the patience to wait for days and weeks for an opportunity to buy or sell your assets. But if you're willing to do it, and you have the capital for it, then there's wealth to be had in card trading for sure.
If you're new to Splinterlands and would like to give this game a try, feel free to use my affiliate link here. 👉https://splinterlands.com?ref=sudeon👈
Thank you for reading and see you in the battlefield!
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Thanks for sharing! - @mango-juice
