Media Ranking The Reasons Why Mythic Prices Are Dropping

Tm makes is good but also bad. Good for people who need the item and bad for people that have the item since quickselling exists.

Thing is that the net worth of people who bought the mythics back in the day is going down, now everyone worries that if they dont sell their mythics in time the price will go down even more, which imo is sad. I hope it reaches that equilibrium quickly since the downfall of mythic prices is annoying, also the shitty part is that supply is rising really fast while people cant buy them all.

Why tho? With that statement I include myself completely, it could easily happen to me too. Also if it were to happen, I wouldnt be sad since I wouldnt even know I missed it. I dont see it scummy at all. Not to mention that the oversupply would decrease which is good. This thread is all about explaining why the mythic prices are decreasing and why, idk bout you but this is a main reason why imo.

kay

kay

I am still not sure if emerald compression would make things bad, but I doubt it would be a huge problem.

Thanks for your sharing your viewpoint though

 

I agree with a lot of the points in this thread. As an old player who had a ton of money invested into mythics, it really sucks to come back after a long break and see that I've lost a HUGE portion of the money that:

1. Was NOT earned through luck.
2. Took countless hours to accumulate.

When I returned from my break, my net worth plummeted from around 50 stacks to around 20. It's a horrible feeling when you realize that your hard work has been almost completely devalued. I see that a lot of people are saying that mythic prices dropped almost entirely due to player-made decisions, but I feel that this is completely false.

1. The trade market has been buggy since its introduction. A large amount of mythics have been duped at some point, which aided in mythic deflation greatly.
2. Quest nerf prevented new players from making enough LE, reducing the amount of LE added into the economy. This wouldn't have been a problem if it weren't for no.3.
3. Introduction of LQ completely destroyed the mythic market. I don't feel I need to explain why. I don't know if it wasn't tested before being introduced, or if it didn't appear that broken, but it's really incredible that it managed to pass as a new stat (I know many people who found a mythic every 600 chests before LQ was nerfed. I personally found 2 mythics in less than 500 chests).

 

This is what the economy should be like, honestly. Like said, economies fluctuate normally. Less raw emeralds coming into the game than mythics is what causes this price drop, but the price drop itself is not bad.

There’s still ways to farm 8le+ per hour, without using the trade market, or anything out of the ordinary. Just raw emeralds. (And nearly 25-35le+ with using TM, not including mythic drops). If people don’t want to take the time to do that, the economy will evolve around that. Vice versa.

I do think there’s an issue with loot running and mythic rates (which is why loot quality was given a soft cap a few months back). The fact that it’s agreed to be infinitely more efficient than most other ways to build up a savings in Wynncraft is kinda stupid. I would like to see some further changes, still, I think.

My two cents, at least

 

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This is one of the biggest issues with every single commodity on the market, because the trade market encourages quickselling.

I quicksell every single item I put up on the market except for powders and scrap, and I keep my slots full as close to 24/7 as possible. Why? Because I only have 5 trade slots, and I want to maximize my profit. I know it may seem counterintuitive that lowering prices increases profit, but it's actually rather reasonable.

I have about 20-30 items I want to be selling on the market at any given time, but I can only put 5 of them up at once. This gives me two options: keep most things in my rather limited bank space as I wait days for a single item to sell at a reasonable price, or try to shove as many things through the TM as possible in as short a time as possible. If selling items at 60% of their current market value allows me to move 400% more product, it'd be stupid for me not to. I'm never going to run out of items to put up on the TM, so even though I'm losing out on potential money for each item sold, I would actually lose more per item if I sold them at a higher price, as I'd be selling more godly items to the item buyer than I already do.


Is it harmful to the economy? Yes. Do I care? Yes, but not in the way you might expect. And that brings me to my next point: it directly benefits me for the economy to collapse.

I'm not rich in-game, which means owning large numbers of higher-tier items isn't feasible. Do you know what makes it easier to own higher-tier items? Lower prices. The amount of emeralds I have is more or less independent of the market due to me not dealing in higher-tier items, meaning that if the price of literally everything plummets, it will only harm me slightly, while it will benefit me greatly. This only further feeds into me and others quickselling pretty much every item we obtain. I could go on, but you get the point.

Have I personally helped to make certain markets plummet? Yes. Am I going to stop? Not unless a change is made which makes it in my vested interest for the market to do well.

Wynncraft has a lot of problems, and I doubt fixing a dysfunctional economy is high on their priority list, especially when they don't know how to fix it in the first place.


P.S. A lot of this stuff is poorly explained economic theory and the like. If you want better explanations I'd recommend looking it up (demand curve, marketing mix, etc). Also, yes, lowering prices to push product in real life is generally a terrible business move, but that doesn't always hold true for virtual economies due to a variety of reasons. And yes, crashing the market is generally very bad in real life, but once again, this isn't real life.

 

7th: Not all mythics dropped in prices and it was bound to happen anyway, its sad that mythic selling isn't the best way of making money anymore but its still viable for now

 

Adding onto my last statement: Aside from loot running mythics like Discoverer and Warp, most mythic prices have dropped. Most legendary prices have dropped. Most everything prices have dropped.
Let’s say everything’s price is cut in half. Two stacks of liquid emeralds now holds as much value as four stacks did. So a Singularity selling for 5.5 is just as good as a Singularity selling for 11. (This scenario is just an example, not based off current economy). Again, supply and demand also exists, so nothing will drop an equal amount across the board.

Back in the day, a stack of liquid emeralds was a lotttttt of money to have because there just wasn’t very many emeralds coming into circulation. It’s not much different now, it just feels really bad if you’ve been around in an era with crazy inflation and emeralds flowing into the market like crazy.

There are ways to capitalize on any economy, if you’re willing to put the effort into figuring out how. A stack every two to three hours is something I can still do currently. People are just too fixated on double loot grinding and loot running to realize this, I believe

 

I think that the LE reward nerf itself was necessary because it was the main culprit of inflation, but there were two problems with how it was handled:

• It should’ve happened much sooner, and by that I mean in a patch a few weeks after the Gavel update. This is something that I find really annoying about Wynncraft; Issues are put off for years, and when they get around to fixing them, it screws over so many people. For instance, skill points used to be random on items, but now they’re static. I think that this change was for the better, but it should’ve happened much sooner because people who bought 20 sp prisms got fucked.
• It seems like they were drunk when deciding the quests to nerf. 1k meters under, a long level 95 quest, now only gives 32 eb. Yet The Ultimate Weapon and Caissop’s Masterpiece still give 7 LE and 3 LE respectively?

 

I share that pain of only having 5 market slots lol. But make the most of what we have right (at least for the past 3 months for me after starting fresh)?

Lol I do this too, selling items at like 1/10th the value from 2week average or what I have recorded on my lowest price notepad file so that buyers look on the TM and say "hey that's a lot cheaper than other people let me buy that and save myself emeralds than buying from these other people". If i can upkeep the supply of my extremely cheap items that I have now collected many years supply of (I have way more than enough to give every player on Wynncraft RN plenty), then I can push other vendors out of the market for items I collect because their items aren't selling because I constantly undercut them. As long as I sell it for at least 1 emerald profit I will undercut the lowest price every time because I want people to see the market as unprofitable with low demand and being a waste of time, while im making a huge sum of small profits over time compared to them. The shock of other sellers when they see the lowest price is selling for so cheap that profits seem not worth it is music to my ears because I will control more of the market when all is said and done. I don't see what I'm doing is immoral, its just business strategy in a video game is it not? Its not like I'm scamming someone with misinformation or selling higher than normal or buying less than normal, I'm just selling it as low as I can to get profit reliably, doesn't matter what the profit is.

If anything, I want people to find more mythics because it means that my emeralds that I have collected and gotten from TM and quests are able to buy more and more "rare" items like mythics easier. I don't lootrun for mythics myself and I genuinely feel bad for those who are told lootrunning is the easiest way to make money and then become discouraged if they are unlucky or quit. But thats my gain and my emeralds for selling them gear and materials. I don't care if lootrunning is bad or good, as long as there are a constant supply of people lootrunning that benefits me in any way (because I haven't bought a single mythic).

I'm pretty close to affording a warp raw now, although tbh I'm probably not going to buy one (or most mythics) because I don't see the need for myself to get one, I can already do pretty much any content with morph set and legendary and below weapons decently.

I'm praying for the next set of updates to bring in a new rush of hopefuls looking to lootrun for mythics and chase after those shiny purple tags while I'll be waiting there with my goods, making a small profits for each person coming through the gate of Ragni. IMO lootrunning is like a gold rush that requires dedication and more luck than just getting a mythic (because you have to get, and roll, a good mythic). It is in my benefit that the prices of mythics fall down to dirt cheap and the market "collapses", but in my business strategy a market collapse is the best opportunity for me.

 

I personally don't see what's wrong with the economy. Mythics are now more affordable for most people. Yes, it hurts me personally, but it also means that I can try out pretty much every mythic at some point without spending an absurd amount of time grinding for the money or praying I get exceedingly lucky. I honestly think this is closer to the rarity and value mythics should have been from the start; expensive and rare, but not utterly impossible to get for new players.

 

Yeah, then you realize mythics are worth less, so overall 20 stacks can probably buy you more.

 

How in the fuck

 

Yeah except that all the mythics that're actually useful are 20+ stacks so having 20 stacks (in mythics, not raw) is kinda useless.

 

More people should have mythics, it's a good thing that they're becoming cheaper.

 

I'm rather curious as to how this is possible, if you don't mind me asking. A stack every 2-3 hours is at least 4-6x as efficient as the best method I'm currently aware of.

 

the economy is failing?
what the fuck did i come back to

 

why is mythic prices dropping a problem?

 

Because people with too much luck think it is unfair
Even though Mythic RNG can be absurdly unfair to begin with

 

so the people who find a lot of mythics therefore own a lot of them just don't want other people to have them? or just don't want them to lose their value
but if those people just want mythics, isn't the price drop a good thing for them in a way because it allows them to get more?
idk makes sense to me

 

Pretty much.

 

It's not failing, it's deflating, and the people who think mythics should be worth 10 stacks each because they have 20 are upset.

Pretty much