The Smooth Love Portion (SLP) value keeps on surging even before the release of the 20th season of the most famous play-to-earn game in the blockchain industry. Axie Infinity’s SLP token has tripled its current value in just a couple of days.
As of the 12th of February, SLP’s selling price was at $0.027, having a day’s range of 0.24-0.32, with a market cap of $927,503,521 and a trading volume of $1,365,400,410 during the same period.
Smooth Love Token (SLP) is currently among the largest blockchain tokens by market capitalization, sitting comfortably at the 102nd position. The sudden rally resulted from the massive upgrade to the game’s system, where the team made adjustments to player rewards in the Adventure and Daily Quest Modes.
The Workings Of Axie Infinity
Axie Infinity holds a high stake in the space of play-to-earn gaming, and the game got its inspiration from older, more popular games like Tamagotchi and Pokeman. The Axie Infinity gameplay involves players’ ability to trade Axies, breed, and perform other combat modes to earn SLP tokens. Players can then redeem the earned rewards for certain in-game things.
The Axie Infinity developers create a gaming and rewards system where players can collect a special kind of animated digital object known as “Axies”. The Axies here are NFTs that can be reproduced, sold, or used in combat against other players.
The game uses multiple token systems, with AXS (Axie Infinity Shards) as the game’s ruling token. Players can use the SLP cryptocurrency to supplement the reproduction of more Axies. In Axie’s ecosystem, players can buy, sell, and exchange other cryptocurrencies of their choice.
Axie Infinity Rewards
The most important update to the Axie Infinity game is the huge reduction of SLP daily tokens by 56%. The adventure and quest modes are the areas of the game where the reduction was affected, which further led to the scarcity of the SLP.
On the other hand, the SLP/BNB pair was recently added to the Binance trading platform to allow for the smooth exchange of BNB to SLP. The listing of the SLP has resulted in a price increase because it makes it accessible to new traders.
Despite the increase in Axie Infinity’s SLP in recent weeks, it still lags as it sits below the previous highs it experienced. The SLP once traded at $0.39 per token a few months ago.
However, the game is currently a hot commodity in the blockchain gaming industry. It continues to draw an increasing number of people looking to play it and investors looking to take the plunge into the latest goldmine of play-to-earn blockchain gaming.
According to Crypto Records Australia, a piece of NFT land belonging to Axie Infinity is reported to have been sold for a record $2.48 million in November last year.
The prospects of Axie Infinity are just starting to get public attention. Still, it is expected to perform more than its current level if the developers can continue updating its game environment.