As of writing this article, I am holding 132929.9000 Aether tokens - the "in-game" currency of the NFT-staking platform R-Planet. I have also around 120 NFTs still staked on their site. Yep, you've guessed it: I'm a pretty optimistic dude. But wait a second! Before you close my straitjacket, let me try to explain the reasoning here!
Everything you've read is true. They've driven their project straight against a brick wall. Right now, there are still shards of glass flying through the air... All passengers are dead. Well, all but one. You see… I'm still pretty fine, sitting in my top-notch kiddie seat, licking away on that strawberry ice cream my father bought me at the last stop. I may be an orphan now, but by golly, I am not going to sell my precious Aether for 0.0001091 WAX a piece!
Why did it must come to this? We were meant for each other!
It all seemed fine before the release of „the Generator“. Everyone was staking their NFTs at R-Planet. (Even Tim, and this guy would not try one single Horsd’œuvre at my wedding!) But they screwed it up... big time. 10000 Aether for only one element. And every try at combining those elements would cost you 0.2 WAX, which they did not communicate beforehand. A bad Omen of more to come?
Yesterday their second card pack sale took place. They're already sold out. Again. Who's buying them?
Raindrops on roses and whiskers on kittens... These are are a few things they screwed up until nooooooow:
1. 16th of February, 4:00 PM (UTC): Generator Launch / Start of Excavation
- Price per element much to high (10000 Aether)
- Unannounced 0.2 WAX gas fee
- Servers crashing
2. 28th of February, 5:00 PM (UTC): First Sale of Mining Tools
-“Mini Packs sold out in 1 sec“
-Only obtainable with WAX (instead of Aether)
-Prices to high
Result: Further inflation of the Aether token by whales
3. Two weeks ago (couldn’t find the Tweet anymore… Hm…): Alien Worlds mining rate reduced by factor 2; Kolobok NFTs mining rate reduced by factor 5
R-Planets reasoning: Decrease Aether inflation by punishing the hard earners
4. 14th of March, 5:00 PM (UTC): Second Sale of Mining Tools
- Only obtainable with WAX (instead of Aether)
- Prices to high
Result: Further inflation of the Aether token by whales
A Proposal: Using Aether as a Way to Clean Your ***
You may find my choice of words a bit harsh… But there are two realities, which I believe to be true. Reality Nr. 1: In these times of Corona, we do have a shortage of toilet paper. Reality Nr. 2: We do NOT have a shortage of Aether. You don’t have to be Andrew Wiles to figure this one out...
Back to topic: The price of Aether has fallen significantly since the launch of the generator - from around ~ 0.0015 WAX (17th of February) to ~ 0.0001 WAX (15th of March). The higher mining rates for R-Planet pack/NFT owners will probably reduce the price further by the day. There’s only one hope left: A big announcement that disrupts the current price trend. Right now, Aether is used to craft elements that can again be used to mine Aether. My grandpa always said: „If it sounds dumb, it probably is dumb.“ So, what does R-Planet need? New functionality. The Sad thing is: The inflation of Aether (in relation to WAX) also counts in relation to added new functionalities. I won’t stand a chance competing to whales that had their mining tools running for months, accumulating a Scrooge McDuck money bin full of Aether. So, what’s my plan? It’s simple: If I sell now, I would not make any noticeable profit. I’ll wait, hodl, accepting the possibility to lose even the little value that is left. But… Maybe… They’ll announce a new usage for Aether. And as soon as this news drops, I’ll sell everything. And then I’ll rip out the sink of the institutions bathroom and walk out to the fields! Now you can close my jacket.
But wait… There are a few little sparks… Sparks of hope that are worth mentioning:
- R-Planet keeps on adding new (renowned) NFT-collections to their staking program
- R-Planet keeps adjusting mining rates (Blockchain Heroes and Kenn Bosak were both raised by the factor 2)
- Currently, there are no real competitors out there (featuring multiple collections)
- (According to R-Planet) there were already 1 000 000 NFTs staked on the 23rd of February
- I’m still not sure if the whole project is just a big money grab, so I removed all of my NFTs with higher rarity from their side by now. Wait… Wrong list.
What do you think?
For further reading:
https://www.publish0x.com/@Marchioly
I’ll be also lurking around on noise.cash (as marchioly, of course)
Picture credits:
Photo by Michael Jin on Unsplash
Aether price chart courtesy of TradingView and Alcor Exchange