The Splintertalk SPT token has finally received utility with the announcement of the SPS airdrop by Splinterlands. Starting in July, held SPT will receive 0.25 SPS airdrop points per SPT. This does not mean 0.25 SPS per SPT, but with DEC pegged at 1 for 1 in SPS airdrop points, we can form a basis for valuation.
Assuming DEC is $1 per 1000, SPT should have a floor price around $0.00025. This is exactly the price on Hive Engine at the time of writing. This floor only takes into account the SPS airdrop and does not account for additional utility.
While both DEC and SPS could fluctuate and affect SPT pricing, this announcement provides a solid floor to a vastly undervalued token. While there have been promises and speculation on SPT utility in the past, this SPS airdrop valuation is an important baseline.
Moving forward, several factors should further boost SPT use and demand. First, as we have seen this past year, the market for buying SPT is incredibly thin. At the time of writing, it would be difficult and expensive to purchase even 100,000 of SPT. The supply is simply not present in the market. The large holders and delegators have allotted Monster-Curator 35M in SPT and are not selling.
In addition to curation, those who hold SPT expect further utility within the Splinterlands universe. Splinterlands cards currently have one set of skins, Splinterstorm, available through the game shop by purchase of DEC. SPT holders fully expect additional skins purchasable through SPT. With Splinterlands setting an initial valuation of SPT through the SPS airdrop, it would make sense for Legendary skins to be priced at 80,000 SPT. While players could easily earn this amount of SPT directly through Splintertalk posts, the secondary market for SPT might also be further stretched thin.
Overall, the announcement for SPS airdrop points to include SPT holdings is an excellent step forward for Splintertalk. Hopefully this is just the beginning in SPT utility in the Splinterlands universe.
Let's hope the best for SPT. The SPS airdrop is really something but the fanart skin shop would absolutely incredible!
Monster Upvote SPT (Splintertalk.io)
Delegate SPT to @Monster-Curator with LeoDEX or Hive Engine and earn daily SPT payouts.thanks @monster-curator - @iceman23
Congratulations @foggybottom! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :
Your next target is to reach 30 posts.
You can view your badges on your board and compare yourself to others in the Ranking
If you no longer want to receive notifications, reply to this comment with the word
STOPI'm hoping to one day pay skins with SPT
Awesome post, SPT being included in the airdrop is a nice step in the right direction.
Nice to know bro! More power to you!
We have chosen to support your post because you are one of the good promoters of Hive on Twitter based on our Hive Twitter Daily Report.
We appreciate your time and enthusiasm for promoting Hive!
https://splinterlands.com?p=battle&id=sl_923bfda47133e2abfc793603794a623e&ref=sinistry
!KOG
View or trade
KOGtokens.Hey there, Champ. You took a pretty hard pounding from our member, back there, on the battlefield. Present this token in any Kingdom of Glory guild glory hole to redeem your complimentary aftercare.
@sinistry, you successfully shared 0.10000000 KOG with @foggybottom and you earned 0.10000000 KOG as tips. (2/10 calls)
Use !KOG command to share KOG! More details available in this post.