Smooth Love Potion vile with pink potion
Source: Axie Infinity

Smooth Love Potion Price Is Surging— Here Is Why


Jul. 13 2021, Published 3:11 p.m. ET

Smooth Love Potion (SLP) are ERC-20 tokens and the in-game currency in Axie Infinity. These tokens are minted after gameplay and rewarded to players as a means to breed more digital pets, aka axies. Axies are non-fungible tokens (NFT's) and can be bought, bred, sold, and traded. As the game continues its exponential growth, its in-game tokens surge in price.

Article continues below advertisement

As the price of SLP continues to rise, so do the value of the axies as it takes a certain amount of Smooth Love Potion to breed them. Like any other ecosystem, the more it grows, the more resources are needed to maintain it. However, to avoid hyperinflation, there is a cap on the number of times one can breed their axies before they are sterile. Most players earn their SLP by playing the game's daily quest and because of this many players in countries facing economic hardship have increased their interest and usage.

200 Smooth Love Potion Earnings
Source: Axie Infinity
Article continues below advertisement

Massive growth and higher price points are causing the SLP price to climb so high.

The blockchain game continues to dominate and lead as the top decentralized application (dApp) on the Ethereum network. Rewarding its players with the SLP token is a central part of the game's “play-to earn” model. According to CoinMarketCap, the price has more than doubled since the beginning of this month. Previously sitting at roughly $0.12 at the top of the month, SLP has skyrocketed to $0.36 this morning and remaining steady.

With its launch this past May, Ronin, an Ethereum side chain, increased user play because it eliminated high transaction fees. Axie Infinity's daily active users (DAU) have seen exponential grown, which has been why its in-game tokens like SLP and Axie Infinity Shards (AXS), continue to skyrocket in double and even triple-digit gains.

Article continues below advertisement

On average, players earn 150 SLP daily so, with current prices, players can earn about $40 a day.This blockchain game is revolutionizing aspects of both "play" and "work" while peaking the interests of people all around the world.

Article continues below advertisement

What makes SLP so unique is how it is changing the world

Rarely, if ever, is an in-game currency listed on as many exchanges as SLP. However, what makes this token unique is that it does not necessarily have to be purchased with fiat currency or exchanged for other cryptocurrencies. Since this token can be redeemed after completing quests and playing the game, most avid Axie Infinity users earn their SLP through gameplay.

Article continues below advertisement

Others who cannot afford their own team have benefited from a community model where players loan out their assets (axies) and, in return, make a percentage of the borrowers' earnings. Because of this, Axie Infinity is seeing a surge of players from countries whose minimum wage pales in comparison to what players can make in the game.

Given its in-game utility and what it can yield, many have speculated price points up to fifty cents or above. However, since players are able to mint SLP by playing, it is hard to predict just how high it can go. Understanding that this token is solely for in-game utility, is important when debating whether to invest given the natural volatility of cryptocurrencies. While many prefer the 'play-to-earn' method, those who are interested can find this token listed on centralized exchanges such as: Binance, Hoo, Lbank,and Pionex. You can also find the token listed on decentralized exchanges such as: Uniswap and Sushiswap


Latest Cryptocurrency & Blockchain News and Updates

    Market Realist Logo

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.