The rise of play-to-earn gaming has attracted more than just gamers, as investors also see this field as an opportunity to earn cryptocurrencies and even real money. One of the most successful cases is the Axie Infinity game , which, through the Smooth Love Potion (SLP) token, has rewarded its players.
Whether you are a novice player or an investor looking for good opportunities, follow the text below and learn everything about this token.
What is SLP?
SLP is the acronym for Smooth Love Potions, the utility token of the play-to-earn game Axie Infinity that works as a bargaining chip within the context of the game.
The token is part of the game’s decentralized ecosystem, which was created on an Ethereum blockchain network. Like other applications, Axie Infinity can be accessed by users who invest a certain amount to purchase in-game assets, such as collectibles and character accessories.
In 2021, SLP recorded its highest market capitalization value with volume of $137,646,849. In less than a year, it reached its all-time high, going from US$ 0.025 to US$ 0.36 – registering an appreciation of 1440%.
How does SLP work?
As a utility token , SLP works as an internal currency in Axie Infinity. In this way, it can be used for payment between players, in the negotiation of land, utensils and character evolution.
In addition to being useful for the actions of the game itself, the SLP can also be used in an investment strategy. However, before embarking on this journey, it is necessary to be aware of the differences between a utility token and a cryptocurrency. This is because the Smooth Love Potion has an infinite emission that depends on the flow within the game, since the main functionality of the asset is to reproduce Axies (the game’s NFTs ).
So that there is no inflation of the asset in the market, game players have a limit on the use of tokens: the more times they are used, the more the value of the asset increases.
How to earn SLPs in Axie Infinity?
Play-to-earn games are known for rewarding users with cryptocurrencies, and Axie Infinity is no different. To earn SLP during the game, the user needs to complete daily missions, as well as advance through the challenges proposed on the platform. Battles can be played in adventure mode or against other players.
Daily missions are relatively simple: you can win disputes by simply logging into the platform, for example. SLP, however, is achieved in more advanced stages and depends on an initial investment for the user to participate in the game.
What are the advantages of investing in SLP?
As previously mentioned, it is possible to buy Axie Infinity tokens without having to join the game, as a way to diversify your cryptocurrency portfolio.
Famous brands already invest in their own networks to sell items and games, in addition to exclusive NFTs. Metaverse tokens are also part of the rage of the moment, helping to boost investment in gaming assets.
However, before investing, it is important to pay attention to the appreciation history of the SLP, as well as other assets related to the game. The good news is that play-to-earn games are considered the next evolution of the crypto world, with massive companies investing in expanding this market.
Among the precautions, it is worth remembering that the play-to-earn universe is still restricted to a community of developers and gamers, which makes the product more inaccessible to the general public.