Ask LEO: Is SPS A Buy?

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Splinterlands has generated a lot of hype for their project with their SPS governance token launch on Binance Smart Chain a couple weeks back.

Call it a smart move if you like - the Splinterlands team identified that many other NFT games were launching governance tokens in this style and they decided to spend the time to launch their own and capitalize on the hype.

Is SPS-BNB a good investment?

I'm considering the Pancakeswap pool which has over a 200% APY.

I don't follow Splinterlands much at all anymore but it was from my perspective the most advanced NFT game on the market before NFT games were even a thing.

Generating yield is the only thing I care about so what I want is a token that will at the bare minimum hold it's price.

My question is multi-fold:

  1. Is SPS worth the market cap it holds now? $50m+
  2. Is SPS going to sustainably grow over a long time frame? Why?
  3. Are you holding SPS?
  4. Where are you holding SPS? Staked or in the Pancakeswap pool?

Posted Using LeoFinance Beta



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3 comments
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First, yes, in my opinion it's worth the $50M+. According to todays AMA, it took them at least 3 years to get 100k users. It took them 6 weeks to reach 200k. It's taking them 2 weeks to reach 300k. In other words, it's growing very, very quickly. The valuation will continue to grow with it.

Which leads into whether it will sustainably grow over time. They continue to add utility to the SPS token. It will soon be able to be used to purchase in game assets and potentially be burned. It will be able to be used to stake on individual players. And, right now it can be staked to earn more SPS.

I am currently holding it and staking everything daily. I'm just doing it right in the game as one, it's the easiest, and two, it's currently paying 280%.

At these prices, I'm very confident it will hold its value and I actually expect it to rise pretty significantly. I would not be surprised to see it climb well over $1. Earning 200%+ with a reasonable expectation of price improvement? Yes, please!

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