Splinterlands has built a solid system over the years and has become a reputable web3 gaming ecosystem that's trustworthy, addictive, adaptive, and quite profitable, especially when you have some cash to throw in. I won't say it's perfect, but it works and has managed to build trust with investors. I know that dwelling on 2021 may seem like dwelling on past glories, but we cannot deny that even the previous success of a project is enough advert pitch to prospective investors.
In fact, Splinterlands is still using the success of 2021 to attract new investors, as the game is currently undergoing extensive remodeling. A lot is not working right now, but the new CEO has made significant progress, and the future is not as bad as it once was. The game may not replicate the success of 2021. In fact, many people are skeptical that many projects will be unable to replicate their previous successes in 2024/2025, indicating that it is more than just splinterlands, which may create some skepticism.
One thing I know is that Splinterlands has drawn resources from the Hive population into the Blockchain's gaming component. True, there have been games that have coexisted with Splinterlands, DCROPS, and others, but Splinterlands raised awareness that Hive the coin is not the only asset that can generate passive income on the blockchain. Leofinance accomplished this through the Leo token. Hitting over $1 is something the Leo token will most likely never do again, but the fact that it established over $1 as a previous ATH is why many people are still invested in Leofinance and voting on the project proposal in the DHF.
The significance of successful decentralized applications should not be underestimated. This is because it is an essential marketing tool. Psyberx was a project launched around the 2021 bull market that received significant investment, not because people trusted the project builders or the brand, but because they did not want to miss out on another "splinterlands". I know people who made significant investments in psyberx at the outset. The money was available because it was a bull market.
There was a lot of money in crypto in 2021, so new projects like Psyberx received a lot of funding and initial investment, and this happened in part because of the success of Splinterlands. Holozo is another game that is generating a lot of buzz, and this is entirely due to the project handlers' reputation on the Blockchain. Every game requires a boost, an antecedent, a hint of FOMO, and so on. Psyberx had that, but it fell short of the hype, which is unfortunate because I, like many others, had high expectations.
But my point is that Hive projects that achieve minimal success are beneficial to other upcoming projects because people rely on previous success as a benchmark for future investment. Perhaps we need other types of projects, a fresh start, and different types of games on the chain, but for the time being, Splinterlands and Leofinance are the only projects that have established a precedent for future projects. Building projects, on the other hand, is not an easy venture; it requires money, time, and personnel, so success does not come cheaply.
As a result, we may need to wait until the bull market returns before other creative projects emerge. However, a bull market and money do not guarantee that a project will survive the long term. A good project can be identified by its viability in a bear market. As a result, I believe Splinterlands is undervalued in the Hive ecosystem. Not the game itself, but the Splinterlands brand. It demonstrates that any well-executed project will ultimately succeed.
Leofinance with Cub & Cub finance
Leofinance, too, lost it at some point with Cub and Cub Finance and the liquidity craze, but they are doing better now thanks to some brilliant innovation from Inleo and a different branding. So, I believe project owners should focus on creating something that will expand beyond Hive, as Splinterlands has done. This is why anyone should not simply build a project or game; instead, they should think it through before wasting investors' money and time, both of which are valuable resources in the crypto space.
I am not saying project owners should not think about money; I am just saying they should not think about building a good project while also maintaining their reputation, rather than swindling others with untold promises of the moon and lambo. Hive and the projects within its ecosystem may not replicate the success of 2021, but maintaining consistency and continuous development fosters the belief that the Chain will eventually get where it needs to be.
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