There's A Crazy Amount Of FOMO In Alien Worlds Right Now!

in LeoFinance3 years ago

If you wanted to explain what FOMO is and what it does to people, there's not a better place to look at than Alien Worlds right now. I've been following the game ever since early January and found it to be somewhat promising right away. That said, there's still nothing to do in the game other than press the "Mine" button every X minutes, claim your TLM (the game's currency), and repeat. With the total disaster R-Planet had turned into, I've lost a bit of interest in the whole WAX gaming stuff. I've sold of all my TLM but kept all my NFTs, only mining occasionally. At that point, the value of TLM had decreased a lot and it seemed like interest in the project was slowly declining.

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Then something happened that I really did not see coming. Not only did Binance announce that you'd be able to trade TLM on their site, they also added it to their launch pool, allowing you to stake BNB to farm TLM. This obviously changed everything. In an instance, the value of TLM and all Alien Worlds NFTs went through the roof. At times, TLM was traded at and above 3$ per unit. Considering that I was farming about 1 TLM every 15 minutes, that obviously was pretty crazy - 12$/hour is more than a lot of people earn in a lot of countries. I fully expected the market to completely crash once Alien Worlds enabled their feature to withdraw to Binance and for the first few hours, it seemed like that would be the exact thing that's happening. For some reason, though, the free fall stopped eventually. Right now, 1 TLM is still traded for about 0.6$ each.

That's not all though, the game's NFTs are going completely crazy. Items that were sold for pennies some weeks ago are suddenly traded for 10$ and more. Luckily, I still had all my NFTs staked to R-Planet, mostly because I was too lazy to unstake them and sell them for what little they were worth. I couldn't be more happy about that decision honestly. As I was looking around AtomicHub today, I realized just how crazy everything had gotten and thus decided to list all my tool NFTs for sale. Most of them sold immediately, netting me some absurd gains.

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That Power Saw for example sold for 142.37$ - I bought it for something about 8$ back in January. That's a 18X in not even 3 months! With these numbers right now, I can only advise everybody holding any cards and/or TLM to sell as fast as possible. These numbers are completely unreasonable and in no way sustainable. I wonder what percentage of the people buying into Alien Worlds even understand what the game is about, let alone took a look at their road map or understand their tokenomics. It's a full fledged FOMO out there and now is the prime time to sell all assets you own in the game!

That's not to say that Alien Worlds has no future and is bound to fail. Quite the contrary actually, I still think it's a pretty promising title and I still think it can be pretty successful long term. But the prices are inflated in a way that's just completely ridiculous right now. The thing you need to understand here is that these tools are obviously better than the starting tools, but they aren't that better - it's really just a small boost to have a common tool compared to an abundant tool. These are selling for 10$ and more as well at the moment by the way. So I'm probably not leaving for good, but I don't see the price for neither the tools nor TLM ever being as high as it is right now again.

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In a few more weeks, what happened in Alien Worlds will likely serve as a prime example why you should always do your own research before blindly throwing money at a project you understand nothing about. The people spending these absurd amounts of money are probably in for a very bad surprise. I obviously might be wrong here and the price is going to climb even more but honestly, I'm more than prepared to take my shot. If everything sells I've put up (and that's looking pretty good so far), I'm in for about 1,000$ worth of WAX - that's pretty decent for clicking "Mine" a few times a day for 2-3 months!

If anything, this whole thing proves just how much stupid money there is just waiting to be spent. Anything coming to Binance will make the people involved with it prior to the launch quite some money. Just imagine what would happen if there ever was a cooperation between Splinterlands and Binance - both Splinterlands and Hive would probably explode! Anyway, if you ever played Alien Worlds, you may want to take a look at your wallet and check your collection. If you still hold any NFTs, chances are you are in for a nice surprise right now...

And that's all from me for today, thank you all for reading and see you next time!

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The big question I think is whether such a value explosion is actually beneficial for Alien Worlds as a game. I guess it netted the developers quite a bit of money, but what happens after the peak?

What reputational damage can a NFT game expect when the hype passes, and people start losing money on their investments? And will any serious players still care about the game, or will they (wisely) have taken profits?

On the Hive / Splinterlands side, I honestly hope we can stick to non-hype gradual growth for as long as possible. I can't help but think it will create a much more loyal and reliable player base in that way.

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I wholeheartedly agree, I very much prefer organic growth (and putting an actual game first) over just trying to make as much money as fast as possible.

Long term this could harm Alien Worlds pretty badly. Most of the early adopters will probably sell right now - earning a nice premium in the process. This will leave the game mostly with stupid money and investors. I'd be willing to get back in eventually, but only if the prices become more reasonable again. Will be very interesting to follow it during the next weeks...

Posted Using LeoFinance Beta

FOMO at its finest, definitely interesting to see what it will do long term but kind of glad it's with alien worlds and not splinterlands. Have to admit I tried playing today for the first time :-P But really just to check out what the hype was about and since I found some TLM in my binance wallet from the BNB vault


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And it seems to be ongoing, prices have skyrocketed even more - this is so insane!

Posted Using LeoFinance Beta

Wow, thought it was already cooling down since TLM price dropped.. real interesting to see, and indeed insanity


Posted via proofofbrain.io

Dude, I still remember when I was mining 50 TLM per claim and thinking how shitty rewarding was that lol. Now, I'm mining like 2-5 each time and I feel good. I would like to see TLM stable at $1.

Posted Using LeoFinance Beta

I can't imagine that happening, the tokenomics is just not there to support such values...

Posted Using LeoFinance Beta

Interesting, was trying it out a couple of days ago and I thought wow this is boring, could not even figure out where to buy some packs, if they even existed (are sold out). I saw some cards on wax, but did not know what to buy and why. Overall a very bad experience and you say it it exploding?

Posted Using LeoFinance Beta

It is, simply because stupid money is flowing in like there's no tomorrow. People know nothing about the "game", yet pour thousands of dollars in simply because it's on Binance.
I've been earning hundreds of dollars worth of referral rewards in Splinterlands these last days, though, so I think some of the people selling their stuff are actually moving these funds over to Splinterlands.

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I have said this before, but Splinterlands is just so far ahead of its time and has always been. The complexity and usecases this game offers for the assets you own is huge and will become even bigger when lands come out. Calling alien world a game is a far stretch, if pressing a button is all it takes maybe we should make a 'game'. Crazy world.

This is like crazy! What FOMO can do, this is the best example. I also don't think it would be sustainable. Let's see what happens after a couple of weeks.

Posted Using LeoFinance Beta

I guess a lot of people will loose a lot of money short term. After that, we'll have to see if Alien Worlds can recover and build something more sustainable.

Posted Using LeoFinance Beta

sold everything :P the price dropped a lot as it should have been. when it was close to 3-6$ they had closed the exchange. now it's 50-60 cents i think, which is still a big number.

for example i had around 200 tlm forgotten so it was an awesome surprise when i earned around 120$ out of it!

Posted Using LeoFinance Beta

Even 10 cents would still be too high and unsustainable long term. There's not even an actual use case for it so far...

Posted Using LeoFinance Beta

it's an endless circle, you mine on alien worlds stake the nfts to earn aether and either buy new nfts or alien-words/ r planet equipment etc etc

Posted Using LeoFinance Beta

This remembers me of UNI. I just bought 1700 TLM today on Binance by the way. Never underestimate the power of FOMO and insane money during a bull market.

Posted Using LeoFinance Beta

Best of luck with your investment! It could pay off big, just make sure to get out soon enough :-)

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Thanks

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I got some TLM at $0.60 after the heartbreaking crash. I feel that it might get back to $1 in the few weeks ahead, although I might be wrong. Nevertheless, thanks for this very educative and enlightening post, really had a lot to learn.

Posted Using LeoFinance Beta

Just remember that it's very likely that it will eventually crash way below the 60 cent mark - so try and get out soon enough ;-)

Posted Using LeoFinance Beta

Thanks for the caution. I appreciate.

At the moment i'm posting this the Standard Drills are at 90 wax. Just crazy.

Pure madness... quite entertaining though :D

Posted Using LeoFinance Beta

I still have 3 quality tools for mining, if I sell them.. that's the end of my TLM generation. I do have a Power Saw, and $142 sounds good, OK time to offload.

I considered to keep my mining gear as well but really, the prices were just too absurd not to sell...

Posted Using LeoFinance Beta

I didn't do as well as you.., but it didn't take long.

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Want to buy this... a worthy investment!

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Can i brag a bit? check out this 😋

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I only have 20TLM - from BNB staking xD, I didnt know that its crazy after reading this.

Posted Using LeoFinance Beta

Another thing I should've gotten into. There are just so many projects and only so much money and time. I don't worry about it too much. FOMO is how people get wrekt.

Posted Using LeoFinance Beta

Absolutely, when the FOMO starts to kick in I start to get out ;-)

Posted Using LeoFinance Beta