Tradelands Economic Update – July 2nd, 2024
The release of crates at the end of last month, combined with the cannon crates being released mid-month, have provided a much needed boost in overall economic activity. The month closes at $1.89Bn in total trading strength. That is a 47.6% jump from where we were this time last year. Pair this with the downward performance of two of the three indexes, meaning prices overall are declining, that means the economic strength outperformed nearly all projections for the month.
The impact of crate releases in Tradelands is very apparent when viewing the market strength reports. The decline in activity occurs right when crates went off sale, then immediately surged back up once cannon crates went on sale. Because it has been a while since these universal cannons went on sale, we also saw a spike in activity in the middle of the month, allowing the total volume to hit $110 Million in a single day of trading.
Blood Oak Resale
Blood Oak made its return to the Premium Merchant during the create release. At one point in time, this was available year round, but it has since been changed presumably due to it’s popularity. That popularity is a result of it’s darker color, making it one of the higher contrast woods for ship hulls. The other being Ebony which is also an exclusive wood.
One of the curious things about Blood Oak is the introduction of Maple and the impact it had on the darker woods in the game. Before it’s removal as a common wood, it was one of the darkest woods in the game, and it was widely associated with Novan ships, so it had a permanent use in the shipbuilding community. Maple, which is darker and arguable more “woodish brown” has since become the primary wood to use in ship building when you don’t want to just go with pure black (i.e. Ebony).
The Brass Finish
The Brass market was upended last month due to a decision to make it a bonus item in the anniversary crates. Since it dropped in quantities of 10 or more, players were able to take over the market from players who had exclusive control of the market prior to the release. The market has seen a slow and steady trend towards $2k per piece and is currently in the process of stabilizing around 3k per piece.
In order for exclusive materials to maintain their value, especially ones released in crates, they have to have an in-game purpose that is unique to them. In the case of Brass, their value was further eroded when new cannon kits were released specifically to turn the material into Brass. This meant the new converter was cheaper than purchasing the brass necessary to make the conversion, limiting the material’s ability to regain it’s previous value. Still, it’s not known if Brass will be released in crates going forward or if this is the only time they will be released. If they remain off-market for a while, they may be able to regain some upward pricing momentum as bulk sellers begin to consolidate their inventory.
The Return of Universal Cannons
Finally, the release of the Cannon Crates has created a new batch of cannon trading. This sector of the market was experience significant inflation as a result of the crates being off-sale longer and anticipated. The return as reset the baseline price for cannons across the board.
This is good news for cannon owners. Due to a number of new combat ships that were released this year, there is extra demand for these cannons that was not filled. However, these prices are still likely to fall further, with all three markets likely to go down by as much as -20% unless something changes. However, if more ships are released, especially ones with large broadsides, there is a possibility the prices will stabilize at the current value rather than fall to the same trend the rest of the market is experiencing.
