Why the Splinterlands Play to Earn game is undervalued

Bart Eggermont
4 min readNov 7, 2021

The game is a Play to Earn card collecting game like hearthstone but you own your assets instead of Blizzard.

They allow everyone to earn tokens with every game you win. Much like most Play to Earn games out there. Most famous among them Axie Infinity.

The big issue is that it is hard to rank and that is because it runs on this lesser-known blockchain called HIVE. Most ranking websites do not (care to) know how to pull:

  • user count
  • active accounts
  • active players
  • transaction volume

They just take their data from either cryptocompare, coinmarketcap, or coingecko. The screenshot below, for example, is from stateofthedapps.com. They have no data and hence the ranking is nr 213.

The main game reward token, Dark Energy Crystals (DEC) is not even ranked on coingecko or wrongly ranked on coinmarketcap.

For your average player in the Philippines or Malaysia who hears from his friend, he is living from the income derived from this game these things are not important. But for someone who is looking to invest long-term in solid projects, this is immediately off-putting.

Hive is amazing but its also problematic

The Hive blockchain has been humming along since 2015, first as STEEM and then rebranded as HIVE. It has a thriving ecosystem that allows you to get rewarded for blogging, curating, participating, and playing.

There are several games based on the Hive ecosystem that are being happily played by hundreds and in the case of Splinterlands hundreds of thousands of people.

It's just that for now there are not a lot of aggregator sites that have the know-how to pull the correct data. So that gives a big mismatch to the image of the game and the actual state. But if you actually see the current stats it's all hockey stick up to the right.

The blockchain is happily absorbing over 10 million battles played per day so this is proof that the tech is there and humming along nicely.

Recently the game has had a count of 500000 daily active users playing the game. Yes, you read that right five hundred thousand players per day.

The game is averaging 200k new accounts per month right now.

These stats are taken from a post from @dalz on the hive chain https://peakd.com/hive-167922/@dalz/splinterlands-stats-or-august-2021-or-games-players-dec-and-price-xesgf

Find out more about the game on:


I am not affiliated with Splinterlands company but have been a player of the game since 2018 and own quite a bit of cards, land, and other in-game tokens. I am currently renting out my cards and this provides me with a nice amount of passive rental income. But I still play my main account and enjoy doing so. Pitting my strategy against all others and winning is still exhilarating. To get paid while doing so is a whole new paradigm.

Referral Code if you want to go ahead and try the game