You may have seen this small, pink bottle floating around the cryptocurrency exchanges. It’s pale pink liquid in a round glass, cork-topped vessel screams “potion.” But, besides an adorable graphic, what exactly is Smooth Love Potion?
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Axie Infinity
To even begin to understand what smooth love potion is or how it works, you first need to understand the universe it exists within, which is called Axie Infinity. Axie Infinity is a blockchain-based, online game in which players purchase NFTs, or nonfungible tokens.
Instead of your basic purchase of a digital file, these NFTs are of cute little monsters known as Axies. They don’t stay cute for long, as much like the worldwide sensation Pokemon, these little Axies critters are then pitted them against one another in battles.
Players in the Axie Infinity game can earn smooth love potion (SLP) tokens during gameplay and later trade them for money at a cryptocurrency exchange. Users can also make basic purchases to buy smooth love potion. They can also use the SLP as in game currency to purchase new digital Axies, trade with other Axie Infinity players, or simply stock up on rewards.
Smooth Love Potion Price
In terms of cryptocurrency exchanges, SLP is also a traded commodity. It is the in-game currency token of the Axie Infinity game, but it has also been on the rise in terms of an investment opportunity for many.
The cost of SLP has been soaring since the start of February, adding as much as 300% to its value.
SLP Price Trends
SLP reached a high of 40 cents per token in July 2021. After that, prices plunged bottoming out at less than 1 cent per token.
However, because the funds are attached to a game, it is no wonder that changes to the gaming app force changes in trading across the platform.
The price started to perk up when Axie’s game developers deployed an update in February 2022. To both stop the token from depreciating further, and prevent the whole Axie Infinity economy from collapsing, updates were made to the game, and prices responded as users played the new download updates.
Investors across trading platforms took note, and the token has since traded as $0.04044 and leveled back off to around $0.03 per token.
Today’s Market Cap
At the time of publication, the price of SLP was just under $0.02 per token. The market cap was $94,188,106 with a total circulating supply of 5.13B SLP.
Due to the features of the token, of course, these prices vary daily and are updated frequently on exchange platform applications. It is wise for accuracy to research the price changes on the precise date and time of your planned transaction to be prepared with the latest figures.
Where to Buy Smooth Love Potion
Like many crypto brands traded online, there is a wide variety of choices when it comes to platforms. Of course, in-game usage of the tokens requires the use of Axie Infinity. However, if your interests do not lie within the game, SLP can be bought, sold, and exchanged on several popular crypto platforms.
Currently, the SLP token is traded on some of the top cryptocurrency exchanges. In order to trade Smooth Love Potion, users are currently operating on:
- Binance
- OKX
- FTX
- Bybit
- Bitget
Support for the token, however, is growing, and more and more exchanges are adding new crypto each day. Search your favorite app locations to see where support for the SLP trade is being added.
In-Game Focused Purchases
Currently, users may create an account and log in to any of the aforementioned platforms. These exchanges are not direct affiliates with the game, however. So parties interested in using the tokens as intended for in-game purchases, upgrades, and even Axies’ breed options, must create an account within the game site itself to enjoy the services offered on the Axie Infinity website.
Likewise, those seeking the smooth love potion (SLP) in-game will be happy to know that they can earn tokens as well by playing. Sign in to your Axie Infinity account to accept terms and play on. From battle or adventure mode to creating new digital pets, the circulating supply of Smooth Love Potion (SLP) is always growing because players in-game can earn tokens.
Use of SLP In-Game
A major use of the smooth love potion in the game is for Axie breeding. The cost of breeding begins at 100 SLP but increases each breeding session. The cost rises, for example, to 200 SLP for the second breed, 300 for the third, 500 for the fourth, 800 for the fifth, and 1,300 for the sixth.
Each individual Axie can be bred a maximum of seven times, and the seventh breed costs 2,100 SLP. This limit exists in order to prevent hyperinflation in the marketplace.
It can take time to accrue SLP through the game. In-game, a player needs to win 15 competitions in order to gain enough tokens to perform one first breed. Purchasing SLP on the open market is a way for gamers to get a head start on the competition.
An Infinite Supply
A drawback of the SLP marketplace is that very fact. The SLP token has an unlimited supply. The more players the game has, the more tokens are minted every day.
This inevitably caused massive inflation that threatened to collapse the game’s economy altogether. Without deployed updates, it is likely that the price of SLP would continue to drop and barely make a blip on the market at all. Axie Infinity players are adding to the world’s total supply daily, increasing the circulating supply with each gameplay.
While players may just be in it to beat other players, availability of the token is at an all-time high each day, because more tokens are added to the market solely due to players playing. Players are responsible for minting new coins, and this means that access to the SLP is not difficult.
Created to be Axies’ game currency, this massive volume creates issues if parties are opting to use the smooth love potion as an investment opportunity. Bitcoin, for example, was created as crypto for exchanges. Unlike Bitcoin, however, tokens like SLP were made with another use in mind.
SLP in Technical Terms
If you are more curious about the science behind the smooth love potion, it is ideal to break down its moving parts. SLP is an ERC-20 utility token compliant with the Ethereum network.
SLP can be earned via gameplay, but SLP can also then be used to breed new digital pets. Formerly known as Small Love Potion, 2022 brought about growth for the SLP as a crypto consideration due to new game deployments within Axie Infinity.
Investment Options
If you aren’t into the gaming aspects of this token, it is wise to consult all options before making a purchase. Even when prices are at all-time high prices, it is wise in any crypto purchase to fully understand the risk involved.
Additionally, we are not aiming to give direct investment advice. While research for any purchase, including that of Smooth Love Potion (SLP) is smart, be sure to seek out informative and fact-based investment advice from multiple sources.
Another Option for Non-Gamers
If you aim to get in the game as an “investor,” many suggest looking into the AXS token as a better bet. Because it has a limited supply and it’s the game’s governance token, the AXS gives you the right to vote and help decide how the game goes.
While features you may be accustomed to with a purchase such as Bitcoin may be far different with AXS, you can at least have involvement in the direction of Axie Infinity, while saying goodbye to endless token supplies impacting your price on the market.
A Wide-Open Future
In an ever-changing market with variables skyrocketing and plummeting each and every day, it can be hard to collect the proper data to make informed decisions. The best advice is to keep an eye open for new changes and incoming data. The price of crypto changes with a notoriously volatile market, but keeping a level head and an ear open to the trends, there is a wide world of possibilities out there.
Whatever site you depend on for your data and services, be sure you are operating in a well-researched and fact-based site. Trading is big business and impacts on volume, trading, price, and more can impact the advice from day to day.
Stay informed with helpful tips from FLOLiO, as a trusted source for data collecting and information. Turn down the volume of the noise around you and focus on the facts.
