A decentralized application (dApp) built on the blockchain, Axie Infinity has been making some headway despite still being in alpha. As a Pokemon-inspired mobile game that allows users to breed, battle, and soon, with land play, the in-game currency Smooth Love Potion (SLP) is at the center of Axie Infinity's success. Touted as the #1 blockchain game with its play-to-earn model, players earn SLP and can exchange it for fiat or use it to breed. On a downward trend from its all-time-high of $0.47, at $0.20 it still makes an impact, especially in more disenfranchised countries.
As a blockchain game, users pay an initial capital investment in order to play. While the game is considered "play-to-earn," in order for gamers to play, they must purchase or breed a team. Once a team of three axies is formed, users can either play one of two modes—"Player versus player" (PvP) or "Adventure mode" (PvE).
Axies are considered non-fungible ERC-21 tokens (NFTs). Since digital assets can be bought, sold, or traded, so can Smooth Love Potion. The crypto provides a lot of economic freedom for owners of these digital assets. Often stated as "more than just a game," Axie Infinity has been making headlines, largely in due SLP and the impact it has been making around the world.
How Smooth Love Potion allows users to experience profits
As an ERC-20 token and Axie Inifintiy's in-game currency, SLP is the cryptocurrency that players earn once they are successfully completing and winning a match. Depending on the mode, gamers can earn anywhere from 1 SLP–200 SLP in one match. At the current price, that could be anywhere from $0.20 to $40. Since the game is still in alpha and given the nature of cryptocurrency, its price fluctuates especially as gaming mechanisms change.
Since SLP is earned after winning and burned when bred, the impact in price has been linked to the amount of breeding occurring in the game. If SLP isn't being used and only earned, it can attribute to the static and sometimes downward price point. However, just recently having reached 1 million daily active users (DAUs), Axie Infinity's in game currency is still changing the lives of those in countries like the Philippines and Venezuela, despite the decrease in price.
CEO of Sky Mavis and creator of Axie Infinity, Trung Nguyen developed Axie Infinity to provide gamers with true ownership of in-game assets. With this in mind, in order to mitigate the inflation of Axies and to capitalize on an in-game economy, SLP was created as a means for players to breed Axies, but at a cost. Depending on the number of breeds an Axie has, it varies on how much SLP is required to breed.
At the inception of Axie Infinity, Axies were less than $10, but as the game continues to surge so do the prices. Many community members either offer or participate in programs called "scholarships." These programs enable those who can't afford their own team a means to play while potentially earning enough to eventually buy their own.
Smooth Love Potion is an accepted form of payment in some places in the Phillipines.
With the rise of Axie Infinity and guilds forming in support of "scholarships," daily players from around the globe are positively impacted by their earnings. Given the large discrepancy of wages in places like the Philippines, a game like Axie Infinity is seemingly pushing the boundaries of what could be possible. A lot of Axie Infinity's DAU's are concentrated in the Philippines and are now emerging with small towns in praise of the game. SLP is also offering services that can be paid out with the in-game token. From SLP to Philippine pesos, this has been a conversion that has many in anticipation for further growth of the financial freedom it can provide.