Tradelands Economic Update – November 4th, 2024
In today’s market update, we will discuss the state of the economy over the months of September and October. In short, the economy had $646.5 Million Doubloons in value in September, and 1.28 Billion for October. We have reported in the past that 2024 is under performing the economic performance of 2023, and these two months appear to continue that trend. The combination of both months, was an under performance of 29.9%, or $823.5 Million less, than we saw in the same two months of 2023. Today’s update will focus exclusively on this trend and try to set some expectations for what we will see in the next Crate Release, which is expected to be in December.
Impact of Crates
We now have three create releases that use the new format which is available in you inventory and can be traded. We can also see there is a consistent format of the item types, essentially one copy of each type available at the crafting table, and how the additional non-weapon items are being added. Like always, we expect the release of crates has an immediate impact on the market, and this was seen once again with the October crate release.
There was a lot of disappointment in this month’s release. Of all the items in this release, the only one that accumulated enough interest to reach IPO status was the Megalodon Blueprint. What that means is there was only one item in this release that seems to be generating any significant interest/demand. Several items were close, however, and are likely to obtain enough interest to be included on the Price Guide by mid-November. Those are the Deadman’s Otter Figurehead, Sanctus, and Scattergun.
Megalodon Vouchers
The only item from this release that hit it’s IPO threshold in October was the Megalodon Blueprint. A lot of buyers are hoping it will be the next version of the Wyvern Blueprint which had an anticipated value of $800k and has since outperformed expectations. The intrinsic price for both of these nominally at $1.2 Million. The Wyvern Voucher closed on October 31st at $1,133,339.43, within the expected threshold for this item.
This is a good sign for Megalodon Blueprint holders. The value has outperformed the first month of the Wyvern Blueprint by about $200k, meaning the market has either set a normalized value for ironclad vouchers at around $1.2Million, or that players view the performance of the new ship as equal or better than the Wyvern. However, it is also likely that this price is just set by players based on the perceived price of Wyvern Vouchers, and will likely fall back to a more traditional price point once the hype for the item has worn off.
