Rising Star Game Record Staking: Is It Worth It?

[openwide]

Hi, Guys!

I got bored while waiting for my mission to finish so I decided to explore the other shenanigans of the game and I found out about Record Staking and here’s what I learned:

Chapter 1: What is Record Staking?

1. Artists can pay 120K STARBITS to “create” 25 NFTs of their song. The 100K is shared between the NFTs' stakeholders. The 20K turns to fairy dust.
2. Players can stake STARBITS(1k increments) to be a stakeholder. The more STARBITS staked the bigger the share.
3. When an NFT is sold/given away, a portion of the 100k is then shared between the stakeholders. YAYYYY!!!

P.S. I'm not that smart so I could be wrong. But I’m impulsive so I staked 1k STARBITS on every song. HAHAHA.

Chapter 2: Is it worth it? Let me work it.

I started having doubts after the dopamine rush so I worked the numbers and did an analysis if staking is really worth it. Please note that calculations were based on the numbers as of writing and can change.

Here's a snapshot of the records list and here are my findings:

1. There's a total of 535 NFTs not yet sold. The number of NFTs change so let's stick with 535 for now.
2. If ALL these NFTs are sold and my % of share won't change, I’ll get 10384 STARBITS!

Chapter 3: Digging Deeper

Getting 10384 STARBITS is amazing. But the question is, **how fast will these NFTs sell? **I compiled the sales records and here’s what I found:

1. 738 records were sold since with a 123 average sales per month.
2. Therefore, it will take approx. 4.35 months till all 535 NFTs are sold.
3. Therefore, I can earn up to 2387 STARBITS per month.
4. Which is 5.08% of my investment amount each month. I dunno if its considered high or low interest but to me any number is better than 0. Yeah, I'm a beginner.

Chapter 4: The Verdict

So, is it worth it? The answer is YES.

1. Yes. These are PASSIVE earnings. You are literally doing nothing.
2. Yes. Take note that my investment amounts are minimum amounts. You can earn more if you invest more. MOAAARRR!!!
3. YES. Remember that you're just "parking" your STARBITS and you can unstake if it takes too long for your liking. Unstaking takes 3 days.

The other question is, will I be investing more?

Maybe next time. I'm broke right now. :D

Thanks for reading my first ever blog!

Comments

[lovesniper]

Hello @openwide! This is @indayclara from @ocd (Original Content Decentralized) team. We saw that you already posted your first post here in Hive! Congratulations and welcome!

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[risingstargame]

This post has been manually curated by Rising Star Game

The NFT based music career game built on HIVE
!PIZZA

[pizzabot]

$PIZZA@openwide! I sent you a slice of on behalf of @risingstargame.

Learn more about $PIZZA Token at hive.pizza _(8/20)

[hivebuzz]

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[demotry]

nice.