Market Update

W.27 TILES & ESSENCE SUNDAY REPORT (WEEKLY)

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This is our one of our Weekly Market reports giving you the best Highlights of the past week! 
Make sure to see all our different E2 weekly asset reports to stay up to date by tuning into these articles. 
The information in these articles is always expanding and improving! 

ESSENCE & TILES
WEEKLY sunday report

what to watch

  • 0.1 Million T2 tiles sold this week. LOWEST SALES IN A WEEK SO FAR!
    Decrease of 300 000 amount of tiles sold week-over-week.
  • Total of 42.4 MILLION T2 tiles now sold versus the 59M T1 Tiles. (29% away in amount of sold tiles T1 vs T2)
  • 20 Countries have now a HIGHER TIER 2 Price vs the TIER 1 !! (or 5 Countries?)
    (NOTE: this is not 100% sure, we have now tried to add the latest T1 price investors had to pay for T1 tiles when it was possible to purchase T1 tiles. Many Countries were at the time connected to the International Territory price of 8,9 USD before closing sales of T1. Currently there may only be 5 Countries with Higher T2 price if EARTH2 truly commit to the prices Investors had to pay for the “locked / Inte. Territory” T1 Countries. )
  • Mozambique is now the closest country to surpass the T1 price that was opened as T1. 86 136 Tiles to go
  • No Countries opened this week but a countdown clock on the website is expected to start.
    Potentially for Saudi Arabi which NEVER opened for T1 tiles!
  • 16 COUNTRIES ARE STILL CLOSED! (List below)
  • ESSENCE PRICE AVG. 0.14, Range 0.09-0.16 USD per ESSENCE. We expect this to move upwards as the low conversion rates from E-ther is still continuing. After the ESSENCE yield update with much lower conversions (about 6.5% for all) ESSENCE is now valued higher (i.e. LUMINOUS Jewels prices are heavily increasing – upping their ESSENCE value)

NOTE: It seems like EARTH2 is doing a “secret” opening of OMAN in the same style as United Arab Emirates!
All though, United Arab Emirates hade a countdown and all regions opened at the same time it seems like OMAN is being split to pieces and “opened” with their own prices with secrecy!

Az-Shira and Musandam has been “opened”.

ESSENCE PRICE VALUATION

(LUMINOUS PREMIUM PRICE / ESSENCE UPGRADE COST)

**E2Economist ESSENCE “premium” Price reflects what the market/sellers expectations is to gain in the Bazaar.

HOW ESSENCE PRICE CALC. WORKS:
BAZAAR ESSENCE PRICE
In short: Upgrading Jewels to luminous requires ESSENCE (And shards). Since we know the required amount of both (ESSENCE & Shards) and the value of shards is known (via T1 prices) and we know the total Lumious price we can then calculate the value of the ESSENCE. 

Calculation Breakdown:
Luminous Jewels consist of 3 Cost Elements: 
Jewel Cost, Shards Cost and ESSENCE Cost. Below shows how we derive the ESSENCE cost (Price).

JEWELS COST: The lowest cost to craft the jewel will be used. 
Example: A T3 Jewel requires 18 T1 Commons. 
Is the total of 18 T1 Commons the cheapest or is the available T3 Cracked cheapest. 

SHARD COST: T1 Common price divided by 17 (shards gained when breaking a T1 Common)
The Best way to gain shards by breaking Jewels is breaking T1 Commons. This will result in the highest shards/jewel ratio. It will yield between 17-20 shards depending on what T1 Common jewel being broken. 
(Note: Shards are gained "for free" when crafting. Thus a 0 Shard cost is possible. Nonetheless, we will factor in the price of it, the shard cost is a minor cost element for Luminous Jewels)

TOTAL ESSENCE COST: Since we now know above cost elements for the Luminous Jewel we can simply subtract them from the Luminous Price. 
TOTAL ESSENCE COST = LUMINOUS PRICE (Bazaar Market price) - JEWEL COST - SHARD COST

Lastly Calculate the Cost (price) / ESSENCE: Done by dividing the TOTAL ESSENCE COST with required ESSENCE for upgrading each specific Jewel. 
* PLEASE SEE THE TABLE BELOW AND THE DARKBLUE FIELDS*
WHY do we use the Bazaar to estimate the ESSENCE PRICE and not EPL or other ESNC conversions? 
The Jewels Bazaar is the most LIQUID market with the highest/most volume / Turnover of an E2 ASSET involving ESSENCE. This enables a more fresh and updated market price and valuation of 1 ESNC

NOTE: A way to already "SELL ESSENCE" exists in Earth2 by making upgraded Jewels and selling them. One could call it "wrapping" ESSENCE into Jewels and selling the jewel at a higher price. The Seller then recieves both income covering both the Jewel Cost to make the Jewel (if crafted) and the premium which becomes the ESSENCE value (This is how we can derive an ESSENCE price via the Bazaar market, see more below)

TIER 2 LAND SALES STATISTICS

COUNTRIES CLOSES TO HAVE A HIGHER T1 PRICE

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