When investing in Chaos Legion packs in Splinterlands I tried to anticipate future appreciation based on past financial results. One thing that I didn't quantify in this was the huge supply of Chaos Legion packs that were thrown on the market with also made the team burn some of them as they were standing still on the Official Market. There is still some time until the next release of Rebellion cards which might throw some fuel on the second market for Chaos Legion packs if their utility will increase with new developments like Tower Defense or Land releases. Still, that might not be enough to push the Chaos Legion packs on the secondary market where we've all wanted to.
While the price of Chaos Legion spiked up to $2.60 a few days or weeks ago, I see now that the prices continue to fall and any prediction is far away from previous edition sales. When I invested initially I had a $10 price point in mind, but considering the current market condition I simply cannot imagine how that can happen. Only if the crypto market goes crazy and jumps x2 or more, it might fire up also the established ecosystem from Splinterlands. But that is not enough and in order for prices to improve we need also a scarcity of assets and in the case of Chaos Legion NFTs, I am not sure that is the case.
The volume of Chaos Legion packs on the second market is varying but without any uptrend. What will push it up should be new developments in the game that we are all waiting for. If that happens, coupled with not releasing any new Editions we might have a breather to take recoup our investment and maybe take a little bit of profit. But the old days I think are past us and would be hard to see healthier returns. Things need to change, new releases on the market need to be thought for bear markets and not bull markets and the supply of assets be well-sized in order to retain value.