The MediaverseThe Mediaverse

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Planet Mojo Releases Trailer For Its Top Quality Blockchain Game

    June 30, 2022

    Fender x Mini Cooper Collaborate On VR Experience For Meta

    June 27, 2022

    Animoca Brands’ Torque Drift 2 Opens Their Whitelist

    June 23, 2022
    Facebook Twitter Instagram Reddit
    Facebook Twitter Instagram LinkedIn
    The Mediaverse The Mediaverse
    • News
    • Metaverse
    • Blockchain Games
    • Esports
    • Reviews
    • Guides
    • NFT & Crypto Games Calendar
    The MediaverseThe Mediaverse
    News

    The Axie Infinity Token SLP Is Now Worth Less Than 1 Cent

    By James EllisMay 16, 20222 Mins Read
    Share
    Twitter WhatsApp Reddit Email Facebook LinkedIn

    The Axie Infinity utility token SLP (Smooth Love Potion) is declining in value and is now worth less than 1 cent. In fact, it is now at $0.00522 at token, which is in stark contrast to the highs of $.36 around this time last year.

    Axie Infinity characters SLP
    The Axie Infinity ecosystem currency token SLP is now worth less than 1 cent. Credit: Axie Infinity

    Why has Axie Infinity SLP token fallen so much?

    There are many factors to consider as to why the currency has fallen so much. However, one of the main reasons is the sustainability of the game ecosystem. In particular, they are finding it hard to ensure profitability for players in Southeast Asia, where the game is most popular, such as Vietnam and The Philippines.

    Another huge problem is too much SLP in the Axie Infinity ecosystem. Players earn tokens, which flood the market, forcing the price down. The Smooth Love Potion acts as a currency to breed the Axies, the cute in-game creatures.

    Many claim it is too easy to gain the currency tokens. Sky Mavis, the developer of Axie, has previously stated this as an issue for SLP. They said there is four times more supply of SLP tokens than demand for breeding. Significantly, this is something that newer generations of P2E games will have to address.

    Axie Infinity has also attempted to address the SLP downfall and introduced several measures. They removed SLP farming from the single-player mode. What’s more, they now offer a feature that allows players to burn SLP when entering Axie tournaments to reach a higher prize pool. 

    Subscribe to our hot social media and don’t miss anything else

    • Subscribe to our weekly newsletter
    • Join us on Twitter
    • Join our Telegram Channel

    All investment/financial opinions expressed by themediaverse.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Axie Infinity p2e
    Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
    James Ellis
    • Twitter

    James is an English teacher and freelance writer with a passion for NFTs, football, film and technology.

    More great NFT Evening content:

    Planet Mojo Releases Trailer For Its Top Quality Blockchain Game

    June 30, 2022 News

    Animoca Brands’ Torque Drift 2 Opens Their Whitelist

    June 23, 2022 News

    BAYZ x The Sandbox Partner To Bring The Metaverse To Brazil

    June 22, 2022 News

    Gala Games x Unity To Build Ambitious Metaverse, The VOXverse

    June 10, 2022 News
    Latests News

    Planet Mojo Releases Trailer For Its Top Quality Blockchain Game

    June 30, 2022

    Animoca Brands’ Torque Drift 2 Opens Their Whitelist

    June 23, 2022

    BAYZ x The Sandbox Partner To Bring The Metaverse To Brazil

    June 22, 2022

    Gala Games x Unity To Build Ambitious Metaverse, The VOXverse

    June 10, 2022



    • Follow @MediaverseCom

    By signing up, you agree to the our terms and our Privacy Policy agreement

    The Mediaverse is your first stop for Metaverse and Blockchain Gaming news, reviews, guides and more. Whether you love play to earn games or virtual worlds, the Mediaverse - part of the NFTevening media group - is dedicated to making Metaverse news accessible and fun.

    Facebook Twitter Instagram RSS YouTube
    Article Categories
    • Blockchain Games
    • Esports
    • Guides
    • Metaverse
    • News
    Get In Touch
    • Collaboration and Press Releases
    • Job opportunities
    • About Us
    • Contact Us
    NFT Calendar
    • NFT & Crypto Games Calendar
    • NFT & Crypto Games Calendar : Add Yours For Free

    Type above and press Enter to search. Press Esc to cancel.