Introduction
I've been playing Splinterlands since late August of this year and like many of you who enjoy battle card games, I was thrilled at the idea of making money with my spare time playing games that I enjoy. So, I bought my spell book and start my journey with 20,000 Credits.
The only thing that slowed me down was not knowing exactly how to go about turning my leisure time into productive gains. After a few days of relentless gameplay to no significant end, I began to think that I would need to heap large sums of money into this game in order to see any real return on my investment. Upon exploring the application a bit more, I found the marketplace and here’s where everything changed for me.
Card Flipping 101
My strategy for beginners to start buying, combining, and reselling cards like a pro'. A simple formula keeps me increasing my $DEC on a daily basis. I use this formula to price my cards, so that I always place my cards for sale at a desirable markup.
Whatever I’m not ready to sell I’d usually rent for a competitive price. If you’d like to learn more about renting cards or how to competitively price you cards, leave your requests or questions in the comments.
I wait until I see the current selling price of a card meets a markup of about 25% above the my purchase price, or the price per 1 bcx, or the average purchase price of all of that specific card and add my desired amount of profit to the Market Value.
I have listed the steps to take & the formula that I use below:
Resale Formula:
Lowest Current Price (LCP) x BCX of the card to be sold = Market Value (MV) + Market Value (MV) x Return on Investment (ROI) [eg. 35% or 0.35] = Desired Resale Price (DRP).
Example:
(Gargoya Lion, Level 5, BCX 60)$0.20(LCP) x 60(BCX)
=
$12.00(MV) + $12.00(MV) x 0.35(ROI%) = $16.20(DRP)
Step by Step:
1. Open the Market tab in Splinterlands app, select the card you wish to list and note the level & BCX for the card.
2. Use the PRICE ascending filter to find the LCP per 1 BCX. Then Multiply the LCP by the BCX to find the MV.
3. Multiply the MV by the ROI percentage and add the total to the MV to find your DRP. (Refer to the Resale Formula above.)
4. Go to the FOR SALE listings and look for similar cards with the same level and BCX or something comparable at a lower level.
5. Use that DRP as a target set your Actual Resale Price to be able to compete with the cheapest prices that are closest to your DRP.
6. BONUS: At the end of each season you will want to check prices to ensure that your card is still competitively priced.
If you found this to be useful or not leave your comments or constructive criticism below, give me an upvote, follow me, and stay tuned in for more helpful hints.
Promotion
In addition for the new players to Splinterlands, if you sign up with my referral link and complete the spell book purchase, I will send you 50 DEC in game. This should help you get started by renting some cards and building up your Collection Power, allowing you to start in a higher tier with much better rewards.
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STOPHey mate, welcome to Hive!
Flipping Splinterlands cards for a profit is an underrated strategy.
These steps are great.
Maybe you could share some of your past flips in a follow up blog post?
PS. If you're still trying to find your writing niche on Hive, you should come and use leofinance.io as your front-end.
Add some formatting like subheadings (Just put ### at the front of your text) and you'll have no problems supplementing your p2e income with blogging rewards.
Hopefully see you over there :)
Posted Using LeoFinance Beta
@forexbrokr, I took your advice. Let me know' if I'm on the right track or not.
Posted Using LeoFinance Beta
I really appreciate the input and I'll be sure to implement some of yor tips in my next posting. I really would like to check out leofinance.io a bit more as well. So helpful, thanks a bunch.