![]() ![]() However, the SLP tokens are not yet internationally accepted as means of payment. Therefore, people can use it to buy goods and services such as smartphones and sneakers. # Purchasing real life goods and servicesĪs noted, SLP is a true cryptocurrency with monetary value attached to it. Notably, the availability of SLP on cryptocurrency exchanges increases its demand and liquidity. ![]() What is important, in this case, is for the investors to trade it on reputable exchanges such as Gate.io which have low fees and reliable technical analysis indicators. Also, investors can trade it on different crypto exchanges since they can purchase it when its value is low and sell it when the price rises. SLP is a cryptocurrency with monetary value and people can transfer it to others. # Sale of SLP to investors for the purpose of speculation For that reason, there is a secondary market where the players can buy and sell the SLP tokens, thereby raising its demand. Such people may choose to purchase them from the users who hold them. Therefore, the players that battle with the Axies in the battle arena may win these tokens.Īlthough the players usually earn the SLP when they participate in the game there are other users who do not win them. As a result, such SLP tokens form a central prize pool. For example, the gamers earn the SLP token when they participate in the game’s special events and activities such as battles.Īs part of the game, the players wager their SLP in order to take part in contests. In addition, the platform rewards the players using the SLP. The SLP is Axie Infinity’s in-game currency since the players use it to purchase the Axies they need to play the game. # The utility of SLP in the Axie Infinity Ecosystem There are various internal and external factors that affect the price of SLP which include the expansion of the gaming industry and the token’s utility. The factors that affect the price of the Smooth Love Potion Also, they use SLP to purchase the Axies they want to use during the games. As such, players earn SLP when they participate in various gaming activities such as adventures and battles. The Smooth Love Potion (SLP), an ERC20 token, is the Axie Infinity ecosystem’s in-game currency. ![]() In order to participate in the game, a player should assemble a team of Axies. It is a play-to-earn gaming platform which has characters called Axies that exist as non-fungible tokens (NFTs). Axie Infinity with its cryptocurrency and in-game asset called Smooth Love Potion (SLP) is an example of such a game.Īxie Infinity, built on the Ethereum blockchain, is one of the leading gaming and DeFi projects. ![]() Most of these games, which are part of the Metaverse, have gone a step further by creating cryptocurrencies that drive their virtual economies. The boom of GameFi and non-fungible tokens has resulted in the emergence of many in-game digital assets and cryptocurrencies that promote player engagement. □ The SLP token is a good investment asset since the adoption rate of Axie Infinity is high. □ Crypto analysts predict that the SLV value may reach $0.00587 by the end of 2023, $0.151 in 2025 and $2.17 in 2030. □ Axie Infinity players can earn SLP which they can sell or use to purchase the Axies. □ The Smooth Love Potion (SLP) is one of the leading metaverse tokens, traded on many crypto exchanges. ![]()
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