Genesis League Sports, another edition to my play to earn investment portfolio. It has been long since the game has been launched. While it is still in early stage but upon watching the previous project (Splinterlands) I have been into it and slowly I am getting into it. But to be honest, this will be a long shot and so much more developments are needed and so much more time is required to see something fruitful from this project. Either way, this is going to be a long term investment for me. I am definitely hoping this would turn out to be something amazing similar to Splinterlands.
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My current standings in Genesis Sports League is just as above the image is being seen! I want to reach to a certain point where I would not have to worry about obtaining anything else. By that I mean, I want to obtain a certain level of tokens in my account, where I will get a certain amount of tokens from just staking it. `My primary target is to reach to 100k GLX in my account.`
The price of GLX at present is standing at `$0.007` per GLX. 100k at today's price would require approximately $700. Which is not really much considering the future of the project. I am very much positive about the future of the project. As there are lots of improvement going to take place in the coming days.
While lets see what is happening with the tokonomics of the token. Total supply is currently holding at `210,920,177`. Staked balance is sitting at `143,087,933`. As we can see there are total liquid GLX standing at `67,832,244` token.
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It would be difficult to find someone who does not like a crazy APR for the investments that they have made. The APR of staking GLX is currently standing at 72%. Which means by staking GLX we will be getting this lucrative APR. Also this would be running for 100 plus more days. But the prime question here rounds about the price of GLX. If the price of GLX comes down, overall investments made in GLX will eventually fall down. Which is not really a good sign of investments. Also since the market is literally thin, there are ways to exploit it and manipulate the price of GLX.
Which is why it is sort of a risky bet at this point. But coming to think about the future of this project and in terms of a long term investment, this could be one of the most beneficial project to dive into. Since, the project is in early stage and there are lots of room for improvements as well. Also the previous project of this team has been super successful so far (splinterlands). Which is why getting into GLS, could be one of those projects which would literally give us immense ROI for the investments that we are making at this stage of the game.
I am currently using the service of Splexgg, where I am just restaking my every GLX that I am getting from the everyday reward.
Although, this is just my speculative opinion and nothing is permanent along the way. As there are countless obstacles and barriers for the team to overcome. Which is why, I am betting in the team and not the game! Let's see in couple of years where does my investments take me.
Best regards
Rehan
Want to play & earn from Splinterlands
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