Risk Managements in Splinterlands

Greetings, my dear beautiful fellows of Splinterverse. Hope you all are doing great and enjoying the game every day. The upcoming cryptobull season can be the beginning of a new era in Splinterlands. Also the last Town Hall, the team addressed the future directions and the updates of the game in detail which is a promising event at the current moment of the game. I am sure in the future the game will be more player-oriented. Players will be able to earn more assets from their lands with the LAND EXPANSION 2.0 in addition to the existing tasks such as completing in-game quests, participating in tournaments, or buying and selling many items on marketplaces. These assets can then be traded for real money or used in Splinterlands gameplay.

Today I am going to share my thoughts on risk management in the Splinterlands from my own experiences and mistakes. The blog is going to be full of suggestions for the upcoming new players that will help them in their future achievements, and future goals in the coming years with the Splinterlands. I hope it will help you to start your journey with such a great game with a great community.

Some prior basics for a crypto project like Splinterlands

• The main focus of a crypto project should be on its innovative approaches and flexibility in response to the players that need continuous technical developments. The project's expansion is essential as it has to manage high transaction volumes and rising demand without endangering security or decentralization concerns. Splinterlands is doing great in this criterion with the free transaction in the Hive blockchain.

• Another important issue is decentralization, which guarantees NFT ownership and flawless transactions without any hassle and anonymously. Compared to other newer games or other existing gaming projects Splinterlands is more widely distributed in a properly decentralized manner. The future is further community-oriented in comparison to any other game.

• The number of cryptocurrency holders is also a crucial factor to consider in the evaluation process. Analyze the distribution of the in-game assets and the types of holders, such as individual investors, institutions, or whales, as each group has distinct investing patterns that may influence price volatility. By considering these factors, Splinterlands is in a great position with a great community in each class including many more whales and medium and smaller investors.

• Distribution and overall supply of the game currency like DEC, and SPS are important things to think about. Taking into account the distribution of coins, Splinterlands is doing great with the regular burning process of these tokens and events to encourage the player to take part in the burning events.

Risks I have faced
The world of crypto is really a mess in a word but the experience you will have through the ups and downs will make you shine one day. The same thing happened with me and I have lost a lot of value in my cards but still, I am not in a huge loss as I didn't buy the card packs instantly or the high price but many people have lost a significant amount of their asset value. My whole investment in the Splinterlands game has decreased from $2200.00 to $1500.00 and then to $1100, demonstrating the need to reconsider the extremely precarious nature of the cryptocurrency market. But because of missions and rewards, my ongoing wealth acquisition in Splinterlands allows me to greatly compensate for my losses. Also, the tiny bull seen during the Land Expansion 1.5, I have sold a lot of my GF cards to compensate the loss among them, there were so many rewards cards has added much value to cover the old losses. Such dumps and pumps, in my opinion, are typical in the cryptocurrency field, but I want to stress how crucial it is to take official statements into account as well as the community's capacity to manage the game economy during the most volatile period of the market. Furthermore, Splinterlands performed a fantastic job from this angle. I want to summarise my faults in the following points.

• Do not panic in the volatile or crashing period, everything goes in the same cycle; crashes and bull cycles are the nature of the market. But I have sold some cards at a lower price which was a mistake and so it needs patience to do the best deal.

• Although time management is essential for optimizing rewards, a lot of players find it difficult to find the time to participate in regular tournaments and fights like me in my current days when I fail to win some battle, I can't play it and go away from the screen that is a loss of energy and I barely complete 15 battles a day where I get 24 energy.

• Blockchain-based games demand a large time and resource commitment to succeed, and there's always a chance they won't be profitable in the long run if the game goes in the wrong direction. Gaining maximum earnings requires you to become an experienced player, understand the best tactics for winning battles and earning awards, and keep up with any updates or modifications made to the game. I was also very irresponsible in that fact. Butt he community posts in the Hive blog can make you an expert very soon.

Some surviving tips
In my previous post, I have discussed the beginners' tips to enter the Splinterlands which can be read from this link. My card's value in Splinterlands has drastically decreased, and I fear that I may lose more money. I vividly recall that the value of some of my acquired cards was lost by around 70% to 90%! Developing a solid strategy based on experience and practical observation is essential to surviving this circumstance. I am giving major tips for risk management here as follows.

• It's important to refrain from making sudden decisions and to act very swiftly; take a deep breath, and relax before acting with any situation in the market that will change with time. Examine the performance of your present investments, the loss you have suffered, and your holdings. Determine which assets have lost the value at the most. This will assist you avoid making rash decisions and make you ready for future investments.

• Review and reassess your investing strategy and take a break before the next step. Learn the market behavior and do some analysis before modifying the strategy accordingly. Read the recent announcements and changes in the game.

Splinterlands is a promising crypto gaming project that has consistently maintained its promises in its roadmaps. It has proposed a player-friendly approach to decentralization, making it a top blockchain game. The developer team emphasizes the importance of roadmaps in WEB3.0 projects like Splinterlands, releasing them promptly. The upcoming major event, LAND EXPANSION 2.0, is expected to significantly change Splinterlands' gameplay, indicating the developers' efforts to make the game greater ever than before.

I hope you find some of these thoughts and discussions my thoughts important before your journey to Splinterlands. And if you have any kinds of queries, you can ask me in the comments. I will try to answer at my level best. Thanks a lot for your time and attention, I will catch you at the next one.

Have a great day!

---

---

---

---

---

---

Posted Using InLeo Alpha