An update and two records in one day. I have now accumulated 40 heroes, and I send them questing just about as often as I can. That is between two to three times a day. Last week I stopped recording the granular data and tried to limit my total time spent in this game to one hour per day. That is 30 minutes in the morning before I start work, 10 minutes at lunch time just to collect quest rewards and send others out on quests, and 20 minutes in the evening. I don’t always optimize rewards versus time, but I have got into a settled routine now.
For a long time I have been thinking of using my crypto portfolio as a regular income stream, and my 2022 crypto trading plan includes withdrawing 1% of portfolio value per month to Fiat and to identify which of our monthly costs this pays. In preparation for this, I have decided that the easiest way to start this is to convert all the game items to USDC on a weekly basis, and to get the USDC on an off-ramp back to our personal bank account.
Today has been really good to me. Firstly, This is the first trading day that I have been rewarded by more than one specific item in one trading day, and it is also the first time I have been rewarded with TWO of those items within the same quest series. The items are called SHVAS runes, worth around $10 each.
So today has yet to finish, and the snippet below is today’s income from items gained on quests, and a total since I began. Dividing today’s total by the all time total gives me a good estimate of how averages will work out in future. The more experienced these Heroes become, the more each of them earns every Quest.
My target is $50 per day, and today was a great Sunday to get these excessive rewards.
I will start the 1% withdrawal in the new tax year and in the meantime, it will be interesting to see whether just withdrawing funds from Heroes quests will be able to constitute that 1% by itself, or if I will need to sell some crypto holdings to make up the 1% per month. It is in my 2022 crypto business plan that “trading” will constitute about 20% of overall profits from crypto, More time will be required to determine the longer term returns from these NFT characters, and it may all just disappear to zero. But then again, returns from Hero income appear to be between 5% and 10% per month of the total dollar equivalent value invested in these Heroes.
I may be completely wrong, but since the game currency Jewel has tanked 70% since its peak early January, I think it more likely that Jewel will increase in value than to reduce in value. It competes on a daily basis with BTC in our portfolio as the token of most value overall. When it went well over 50% early January, it did cross my mind to junk some of it, but I just let it ride. The other side of this is that I have ONE tokens in a vault paired with Jewel and headline interest on that undertaking is 320% APY up from 280% APY last week.
Some really interesting stuff going on with ONE right now. It may completely tank, and so may Jewel, but for the time being it is useful to have two income streams from the same narrative (DeFi Kingdoms)