In Axie Infinity, a game based on cryptocurrencies, the Smooth Love Potion (SLP) is the primary currency. The token’s price varies due to the forces of supply and demand. This article will cover the basics of SLP, the game’s currency. Also included are its benefits and costs. To get the most out of SLP, you should know the following information.
Smooth Love Potion (SLP) is an ERC-20 token used as a currency in Axie Infinity. The Smooth Love Potion (SLP) is a unique in-game currency first released in 2015. The Smooth Love Potion was first listed by Binance Innovation Zone and is currently ranked at No.342 on CoinMarketCap. The currency has a live market cap of $186,609,836. It was released with the intent to be a utility token that you can use in the game.
The price of the smooth love potion started to rally in early May of 2021 but soon fell by 75%. It peaked at $0.3462 in mid-July and has been steadily trending downwards. The SLP does not have its own blockchain. It runs on the Ethereum blockchain. Unlike other cryptocurrencies, Smooth Love Potion has no hard cap.
Game Play
The game Axie Infinity uses Smooth Love Potion tokens (SLP) to facilitate the breeding of Axies. This currency is traded on cryptocurrency exchanges. The game is not limited to the in-game economy; the players can use it to trade in other virtual currencies, such as bitcoin and Ethereum. However, unlike most in-game currencies, SLP is not a commodity. It represents an entirely different asset and has a much higher value than gold or any other commodity.
SLP is a digital currency derived from the Axie Infinity game. Axies are non-fungible digital tokens used for breeding and selling. They also function as the ecosystem governance token called Shards. Besides, the SLP cryptocurrency is also used in the Axie Infinity Metaverse. Users can buy, sell and trade other cryptocurrencies on the game’s marketplace.
Costs
Smooth Love Potion, or SLP for short, is a cryptocurrency. Its price fluctuates constantly, and the forecasts for this cryptocurrency are not always accurate. Wallet Investor, an algorithm-based analysis website, predicted that SLP will be worth $0.00098 in a year and $0.00001 by 2027. You can check SLP cost on bitalpha-ai.com. Another cryptocurrency analysis site predicted that SLP would be worth $0.19 in 12 months and $1.04 in five years. DigitalCoin predicted that SLP would reach $0.033 in 2025 and $1.04 by 2030.
Axies are purchased with crypto, which can be bred to earn SLP. However, SLPs are not considered inflationary since SLPs are constantly created within the Axie Infinity game. In addition to Axies, NFTs are becoming the day’s trend, and the Axie Infinity game has been a prime example. Its high demand for SLPs has led to a massive increase in consumer interest in Metaverse real estate and NFTs, with Axies being one of the most important types.
The global pandemic may be over, and money growth will moderate, so the fears of inflation should fade. The chart below shows the long-term price correlation between cryptocurrencies and the growth of the money supply, but this relationship will likely not last much longer.
Exchanges that support SLP
SLP is a currency used to reward gamers for their skills and achievements in online games. Like how the game Call of Duty rewards players with money for every kill, SLP can also be traded as currency.
This could be a popular alternative to conventional gaming currencies like bitcoin and Ethereum. To get started with SLP trading, Trung Nguyen founded Axie Infinity in 2018 to allow gamers to take control of their digital assets. Since then, the company has grown to 25 full-time employees and attracted Mark Cuban’s funding round.
Final Words
Before you begin trading, you’ll need to know how to choose the right exchange for SLP. You may choose to trade SLP on Binance because many of its users have an account there. If you don’t, you’ll need to create a new account and verify it. Once you have done so, copy the exchange address where you plan to store your SLP. You can also use an exchange to trade SLP for another cryptocurrency.
