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Make a Passive Income in Splinterlands

Posted by
Ian Kane

Make money NFT card collecting and trading

This guide will explain to you everything you need to know, to start earning passive income through Splinterlands. If you prefer to be active and want to earn DEC tokens by winning battles or compete in tournaments to earn SPS or DEC tokens, please read our Play to Earn Guide for Splinterlands

Splinterlands is a play-to-earn digital card game where players have true ownership of their cards and in-game resources, thanks to non-fungible tokens, or NFT technology. The gameplay is similar to other tactical card games like Magic: The Gathering. Where players compose a deck of cards and battle against other players. Interestingly, Instead of a turn-based system similar to traditional card games, the battles in Splinterlands are automated and fast-paced. Splinterlands is definitely an OG in the blockchain gaming and play-to-earn space. Originally launching on the Steem blockchain, only to then flip over to Hive during the big Hive vs. Steem debate of 2020 involving Tron founder Justin Sun. 

The game offers a unique trading card game with deep strategy gameplay, play-to-earn features, and the possibility for players to rent NFT cards to other players to generate an income. There are several ways to earn an income through playing Splinterlands and the addition of the SPS governance or Splintershards token in early August 2021 has introduced the ability to earn passive income based on your game assets. 

Splinterlands makes it easy to get involved with cryptocurrency. It’s based on the Hive blockchain and as such a Hive cryptocurrency wallet is automatically generated for players upon registration. For veteran crypto users, Splinterlands has cross-compatibility with other blockchains such as Ethereum, BSC, Tron, and Wax. Players can buy in-game credits with a variety of cryptocurrencies, earn crypto and other digital assets, and additionally earn HIVE by participating in the SplinterTalk social media community

As mentioned, if you would like to jump into the game to earn DEC tokens by winning battles or compete in tournaments to earn SPS or DEC tokens, please read our Play to Earn Guide for Splinterlands

Start earning SPS tokens

In August 2021 Splinterlands launched Splintershards or SPS, their governance token, as well as a staking platform for players to stake and earn. Players who stake SPS will be able to participate in the governance voting system. Giving players a level of control and ownership over the direction of the game and its ecosystem. 

Moreover, all players who own DEC tokens, cards, or land NFTs in Splinterlands will receive SPS tokens daily over the next few months. This started a week after the launch of the SPS token with players receiving a portion of the 7.5 million SPS per month. This reward amount will be reduced by 1% each month. It’s important to note if you are new to staking, that staked SPS tokens are not liquid and may not be transferred or sold. 

Tokens may be held and staked either in a BSC wallet address or in a Splinterlands game account. The only difference between the two is that only tokens staked in a BSC wallet address are eligible to participate in governance votes relating to the DAO. However, tokens staked in either place are able to participate in governance votes related to the game. Importantly, they are also able to earn rewards from the SPS staking rewards pool.

How do you earn SPS and stake your holdings? 

  • Log in to the game with your account on www.splinterlands.com. In the top menu, you will see three tokens. The yellow ones are your in-game Credits, the purple ones are your DEC tokens, and the blue box shows your liquid SPS holdings. 
  • Click on your liquid SPS holdings. A new page will open.
  • This is the SPS Management page. Here users can see their total SPS holdings, how much they have staked, and what they can claim. 
  • The left side allows users to stake their in-game (liquid) SPS holdings, and earn interest over that. Currently, the APR is 109%, but that number drops as more players join the ecosystem. Liquid SPS can be staked by pressing the yellow “Stake” button at the bottom of the information box.
  • A pop-up will appear where users need to indicate how much they want to stake. Press “stake” to activate the staking process. A pop-up will appear to confirm that this is what you want. 
  • Unstaking can be done by pressing the purple “unstake” button on the left information box. Unstaking doesn’t happen instantly, but instead over 7 days, 25% unlocks. So unstaking a certain amount takes 28 in total. 
  • On the right side of the page, users can claim their SPS rewards every day. The amount of the rewards are based on the Airdrop Points someone accumulates. The more cards, land, DEC tokens, or Liquidity Pool tokens someone has, the more Airdrop Points they will get. Ultimately the amount of SPS one gets per day, depends on the weight of their Airdrop Points against the total pool for all players combined. 

Rent out NFT cards 

Once you’ve accumulated a comprehensive collection of cards in your inventory, you can rent them out to earn passive income while still having 100% ownership of the NFT cards. The renter pays a certain amount of rent per day and you will then earn DEC tokens daily. Prices for simple cards start at $0.0005 per day but can go up to $2.50. Of course, all paid in DEC tokens.  

The renting system has become one of the most popular parts of the game. The community rents out cards with a combined price of $22,230. That’s $660,900 per month or over $8 million per year. Putting cards to use in this ecosystem can generate a bit of passive income for cards that would otherwise sit idle in your account. 

The NFT renting system in Splinterlands is perhaps one of its most unique features, as it provides a winning scenario for both newbie and experienced players. Renting out rare and high-leveled cards gives new players a chance to compete with veterans, and climb the rankings or battle in tournaments to earn more for themselves. Cards can be listed for rent on the official Splinterlands market

To lend a card from the market

  • Simply log in to your account
  • Go to “Market” in the top menu
  • Select “Card Rentals” in the submenu
  • Click the card you want
  • Select the specific card by ticking the box 
  • Click “Rent” 

To put your cards on the market for rent

  • Go to your collection by pressing “Cards” in the top menu
  • Click a card
  • Tick the box to select the specific card (because you can have multiple copies of the same card)
  • Click “List for Sale/Rent”
  • In the pop-up, select “Rent Card” 
  • Set your price in DEC
  • Press “Rent”

Passive income with Splinterlands

That’s how you can earn passive income in Splinterlands. Some players see Splinterlands as a play-to-earn game, others invest in a whole bunch of cards and enjoy that passive income. DEC or SPS, the choice is yours because the NFTs are yours. 

DappRadar users looking to invest in gaming platforms have a plethora of options available. Axie Infinity, Splinterlands, and Alien Worlds each have tokens, AXS, SPS, and TLM respectively. Token holders can find their holdings in the DappRadar Portfolio, allowing them to directly swap tokens straight from their portfolio. 

The above does not constitute investment advice. The information given here is purely for informational purposes only. Please exercise due diligence and do your research. The writer holds positions in ETH, BTC, ADA, MATIC, SAFEMOON, HEX, LINK, GRT, CRO, OMI, USDT, SOL, SHIBA INU, AVASTR, RAY, BOSON, AND OCEAN.

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