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I have repeatedly commented on and/or explained the usefulness and importance of SPS in the overall Splinterlands ecosystem, as it is not only the governance token with which you can influence decisions made through proposals, but you can do much more. The utility of a token represents its future value. A token that has no usability in the medium and long term ends up dying, and I am not including the short term because it is always at the beginning that the boom is greatest. However, as time passes, the token reflects its value, although many others reveal themselves over time.
Such is the case with Splinterlands and SPS, as we experienced an incredible "boom" when it was launched, with its value reaching just over $1, but over time that changed. Today, the token's performance has improved, and although in my opinion it still does not reflect its true value, I am sure that at some point it will, as its usability and/or utility is quite clear. The best thing is that recently that utility has grown, and it is all thanks to the complete reset of rewards with the arrival of the new "Conclave Arcana" reward set.
So, if you want to know why you should focus on accumulating more and more SPS, read to the end of this post. I'm sure you'll find it very interesting and informative, especially if you're new to this.
Why should we focus on accumulating SPS?
Let's see, where do I start? Basically, accumulating SPS gives you access to practically the entire ecosystem, from decisions made in governance for the good of the game, to increasing your potential rewards for playing, not to mention that you can earn passive income in the form of more SPS tokens if you participate in staking. There are really many possibilities, but let me summarize it for you to make it clearer:
Governance: One of the most important aspects of the game, since you can influence the decisions that are made if you have enough, doesn't really excite me, because obviously I don't have enough power to strongly influence this, but I know it's really fundamental.
Staking Rewards: For me, this is part of what makes SPS so incredible, because by locking it in Staking, you earn SPS tokens every day that you can use for whatever you want, whether it's to reinvest in the game or to take profits for whatever you want. Many people keep their SPS in this option, looking to earn that 10.29% APR at the time of writing this post.
Increase your Multiplier: The multiplier works as a coefficient that can multiply the winnings you can obtain in the game classified in the "Modern and Savage" formats. If your multiplier is higher, the greater the rewards in SPS and GLINT you will receive per battle won. However, for this to happen, you need more SPS, so it has a very good use: you need SPS to earn more SPS, which creates constant demand for the token.
Lawsuit over the "Fortune Tickets": Another new feature of SPS is "Fortune Tickets," a new way to win the most incredible cards in the game by purchasing these tickets, but they are closely related to the "League" you are in and the amount of SPS you have in Staking. Basically, the way it works is that the more SPS you have, the more "Fortune Tickets" you can win, which means that the greater your chances of winning a card worth hundreds of dollars very quickly.
With all these benefits, and I know there are several more I haven't covered, tell me: is it worth having SPS or not? Furthermore, as I just said, this isn't the only thing we can do. In fact, we can do much more to earn even more SPS. Another of its uses is the nodes for the SPS chain, which can be rented out to earn money, which can then be used to buy even more SPS. Projects that burn SPS daily to reduce the circulating supply.
What is my current plan for getting more SPS?
Given the many benefits of SPS, which I have mentioned repeatedly, and although there does not seem to be much reaction, sooner or later this could cause a stir in the general ecosystem. With the innovations and the team working to improve the product, I am convinced that the price action, volume, and liquidity of SPS will increase, making it a good opportunity to position yourself. Of course, this is NOT an investment recommendation; you should do your own research, but if a token has:
- Various utilities
- Usability and a key element in rewards
- It functions as a pillar in the "Governance" of the system
It is only a matter of time before this is reflected in the price and the many users who are joining if attention shifts back to "Play To Earn" games, something that could happen again sooner or later.
With that clear, my plans are as follows:
Increase my SPS trends by reinvesting my winnings from my gaming activity.
In a more optimistic market with a rise in HIVE, I could allocate some funds to keep my SPS bags growing.
Sell some cards that I don't need and that don't affect my gameplay and deck to buy SPS.
Conclusion
Basically, SPS has enormous potential to rise at least to its historic high. I'm not saying this will happen overnight; it will require a lot of development and implementation work from the team, such as investing in marketing to grow the base of active users in the game who invest in the most important assets in the ecosystem and create a snowball effect. For me, the recent rewards and changes have taken the right direction, reviving excitement and gameplay, which is a first step.
If you have any questions about this topic, or any other questions, please feel free to comment on this post.
With nothing further to add, until next time, "Splinterlords."
I invite everyone to join Splinterlands, the best game based on chains of blocks, full of adventures, battles, and strategies where you will have fun and get rewards according to your league
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