I think the fact that we have seen upticks in price shows there is still demand and value there. However the teams been mainly focused on trying to improve the game and get more people into the game. I think that's a little ass backwards at least in the crypto world. Instead the focus should be on value of cards but in particular how do we increase the value of SPS and land was a BIG part of what brought people into buying etc again.
Once the price of SPS goes up people are going to start talking about it, wanting it and will come back and play etc because let's be honest most people don't care that much for the game they care that they are earning value in the assets they have. I agree though that Chaos threw a big wrench in the system that needs to be cut out. Until DEC can be pegged again and there's not a million extra cards which many people are just burning for DEC further diluting the price of everything it's going to be a long hard road. We even saw that the burn event really was a failure IMO. It burned a small value and honestly if the DAO would have paid for it the DAO would have lost money lol.
There are so many tokens and assets now it looks a bit like smoke and mirrors. I thought there was a big push to bring DEC back up to peg, but now its SPS that is the main barometer of ecosystem health?
It's understandable that a game marketed as Play-To-Earn would end up with a player base keen on earning. It's a two-edged sword I suppose.
The biggest issue with brining DEC back to peg is there's nothing to stop it from going to the downside while the upside has pressure of SPS burn. But there's nothing to hold it at peg which I always thought was super weird why we try to peg it. Either peg it or don't lol
It's product-backed; so as long as there's demand for packs, and those packs can be bought for a certain number of DEC, that puts upward pressure on DEC. If it's selling at 75% of peg, then that's a 25% discount on packs bought with DEC.
The whole flywheel thing is super interesting. We just need a decent bull run to demonstrate what it's capable of.