Spending 20+ Eth on Diamonds in the first 48 hours of Gods Unchained Marketplace. Worth it?
Posted On November 24, 2019
The last 48 hours has been intense.
The Gods Unchained marketplace, (trading card game), of which had a one year long pre-sale was finally launched!
$Millions were poured into cards which made a very lively marketplace. In fact, in just 2 days it’s smashing other dApps stats.
So How do we Make Money from this?
First off, it’s a game. There is utility for the cards for players to buy and use in game to compete and win more cards.
Cards that are popular to play with will be bought more and eventually supply will decrease which should lead to an uptick in price.
I’ve been watching this site to see which cards are becoming popular.
You can see Amazon Hearteater is becoming popular, (last card), so I’ll go check what the supply is and if it’s slowly increasing in price. Token Trove shows us a daily price graph, (which is awesome!)
You can see it’s slowly increasing. Over time we will better data with trends but for now, it’s a lot of intuition and a bit of data.
Buying Under Card Valuations
Obviously you want to buy under market price. By market price I’m referring to SOLD prices not listed! This is a big distinction. ‘Sold’ prices tells us what people are actually willing to pull the buy trigger on. Ideally you want to buy and sell under this price so your $ increases quickly.
This awesome below graph that was shared on discord shows us data of what people are buying these card types at.
I made a 120 cards for 23 eth deal yesterday and made sure I was buying well under the above prices.
It came with 1 diamond legendary, 2 diamond epics, 5 rare diamonds, 23 common diamonds, 5 gold epics, etc.
In total there were pretty cool cards so I’m stoked to hold them as a collector.
I’m sure I can sell the diamond for at least 7-15 eth in the near future.
There’s only 3 of these in existence!
Scarcity and value
I’ve noticed scarcity is a huge deal in price valuations. Even in Decentraland this became apparent as the market matured. Land connected to roads started to sell way more than land not connected to roads even though at the start of decentraland marketplace launch prices were near the same!
This taught me to keep an eye on scarcity and to try predict which cards will become lower and supply where demand will start to increase the price.
Let’s take Light’s bidding for example.
There’s only around 60 of these around!
There’s been 3-4 sales of 10-12 eth for this card. Even though it’s not really being used in the game, people are buying because it’s rare to own and eventually, if this game blows up, you better believe this card will be worth something cool.
Blessed Chimera is another example.
These come in Diamond and there’s only 600 or so. Sales have been from 0.6 to 1 eth. Right now it’s closer to 1 eth!
Full Time CryptoCollectible Trading. What Now?
I’ve been full-time with this for around 2 years. First with Decentraland and now with GU, (and Decentraland). It’s made me more money than any job has done in the past and I’ve worked as an engineer and a digital marketer.
If you trade professionally and spent time and effort to understand the marketplace better than anyone else, you can make a lot of money.
But for now it’s mostly watching, negotiating and capitalizing on good deals. There’s still a lot of risk as we don’t have much data but there are some safe bets.
If you want to get involved, you can check out Gods Unchained website or start trading at Token Trove, Opensea, or download Immutable’s official game/marketplace.