What is slp crypto: What is Smooth Love Potion SLP: Is It Still Worth Buying?

What is slp crypto

What is slp crypto

Regulations, adoption by companies and governments, cryptocurrency exchange hacks, and other real-world events can also affect the price of SLP. The market capitalization of Smooth Love Potion can change significantly in a short period of time. Axie Infinity is not responsible for selling SLP tokens to players, nor does it provide liquidity for SLP token exchanges. Instead, Smooth Love Potion tokens are generated in the Axie Infinity game itself. Many people play it because they earn the Smooth Love Potion which is its in-game currency.

SLP may be used to breed young Axies, which can then be exchanged as NFTs on the Axie Infinity marketplace. Since SLP is an in-game reward, users can generate it for free just by playing the game. Since the amount of SLP required to breed Axies scales with each new token minted, it often becomes a grind to secure enough SLP to breed new Axies. Thus, there is a market for selling SLP for users who don’t have the time for all of that work.

The SLP price varies according to the forces of supply and demand. The Axie Infinity ecosystem is built on the Ethereum blockchain. You can purchase Axies on the marketplace or borrow from other players in a scholarship program. You can also breed new Axies using Smooth Love Potion tokens .

What is slp crypto

Also, investors can trade it on different crypto exchanges since they can purchase it when its value is low and sell it when the price rises. Smooth Love Potion is one gaming token metamorphosing into the non-fungible token space. As one of the tokens on Axie, the token is used to facilitate smooth gameplay as well as the breeding of Axies. We will look into what this token has to offer in the Axie platform and the uniqueness surrounding its development. Smooth Love Potion is a gaming token primarily used to power the breeding of digital pets called Axies in the hit NFT game Axie Infinity.

Exchanges that support SLP

Since Axie Infinity is the leading blockchain-based game the demand for SLP is likely to keep on increasing. It is also important to note that, since SLP is an ERC-20 cryptocurrency, people can transfer or hold it in crypto wallets that accept Ethereum tokens and coins like ETH. For example, you can use MetaMask or Rainbow Wallet, among others, to manage your SLP tokens.

To bypass hyperinflation of Axies Axie can be reproduced before it is sterile. Reproducing an Axie requires AXS and some Smooth Love Potions. This all depends on the number of times the Axies have been reproduced.

In addition, universities and colleges are offering courses that enable their students to consider future professional careers in the gaming sector. The primary way to earn potions is simply by getting them as rewards after winning a game in Axie Infinity. However, this can take quite a while as you might need to win up to 15 competitions before performing your first breed. To make better headway and earn larger volumes of SLP, you can purchase a bunch from Uniswap and other exchanges.

However, for each adventure level, you can only get one-time SLP awards. You can replay the same level to meet the daily quest SLP reward criteria, but you will not get any further SLP awards. You may also earn additional SLP by defeating bosses in specific stages for one-time SLP awards. Players are pitted against each other in the PvP Arena based on their standings . Every Arena match will use one energy, and every win will result in an SLP payout based on the player’s MMR. It should be noted that in order to receive SLP prizes, your MMR must be more than 800.

What is slp crypto

As noted, SLP is a true cryptocurrency with a monetary value attached to it. Therefore, people can use it to buy goods and services such as smartphones and sneakers. However, the SLP tokens are not yet internationally accepted as means of payment. They are only accepted in certain countries like the Philippines where many people play Axie Infinity. Smooth Love Potion is an ERC-20 token used as a currency in Axie Infinity.

What are SLP tokens?

However, the coin is more probable to end up at around USD 0.10 by the end of 2022. The community is bearish as more than 61% of users are feeling bad about Smooth Love Potion today. Increase from one day ago and signalling a recent rise in market activity. As a content writer Prashant believes in presenting complex topics in simple laymen terms. The creators of the token say that they wanted to create a tokenization consensus which is not overly complicated as many other protocols in the decentralized space. Since its creation, various businesses of different sectors have used the protocol to create their own personalized tokens.

Is it profitable to invest in Smooth Love Potion?

When buying a cryptocurrency from an exchange, it is always important to pick a reliable one. This article is a complete guide on theSmooth Love Potion Token.NFTsare creating a storm in the gaming world and rightly so. Non Fungible Tokens are unconventional or we can say they are unprecedented tokenized digital assets. The important thing to perceive here is that NFTs aren’t interchangeable. Bitcoin Cash network has decided to look for long term goals and usability and thus they have moved towards a complete ecosystem allowing its network for Dapp hosting and tokenization.

How does the price performance of Smooth Love Potion compare against its peers?

To see all exchange delays and terms of use please see Barchart’s disclaimer. The SLP token is one of the biggest alt-cryptos right now, capitalizing on the NFT trend with a product not offered anywhere else. Given the network’s interactive model and potentially lucrative value, there’s no wonder investors are seeking out where to buy their own Smooth Love Potion crypto. After earning SLP from the game, you’ll be able to claim it manually every 14 days.

For example, a 12-day simple moving average for SLP is a sum of SLP’s closing prices over the last 12 days which is then divided by 12. Moving averages are a popular indicator in all financial markets. The purpose of a moving average is to smooth price action over a certain amount of time. Moving averages are a lagging indicator which means they are based on previous price action. In the table below you can find two types of moving averages, simple moving average and exponential moving average .

In an effort to avoid inflating the Axie Infinity metaverse with too many Axies, the ecosystem has implemented hard rules regarding how many times individual Axies may breed. Each Axie NFT can be bred up to seven times, with the required SLP price increasing with each subsequent breeding. In addition to SLP costs, players are also charged one AXS token per Axie Infinity breeding. Uniswap, bringing SLP out of the Axie game metaverse and into the crypto market. As Axie Infinity has grown into one of the most popular blockchain-based games, SLP has demonstrated the value of in-game assets both within the metaverse and beyond.

Smooth love potion price prediction: Will the token price rebound?

SLP tokens can be earned by playing Axie Infinity, and the top-ranked players are also rewarded with AXS tokens. In addition, AXS holders can participate in the governance of the Axie Infinity ecosystem. The first breeding costs players 600 SLP, and gradually increases upward until the seventh breeding, which costs over 10,000 SLP.

Sign-up to receive the latest news and price data for Smooth Love Potion and its competitors with MarketBeat’s CryptoBeat newsletter. However, investors can turn also to exchanges likeGemini,KuCoinandGate.io to buy their own SLP. Cryptocurrencies are highly volatile assets and very risky investments. Whether SLP token is a suitable fit for your investment portfolio depends on your personal circumstances and risk tolerance. You should evaluate the level of risk you are prepared to accept before investing. Axie Infinity developers attempted to address the sharp drop in the value of SLP.

This is because SLP tokens are continuously being generated from in-game activities, and are burned each time new Axies are spawned from the breeding process. In this way, the SLP crypto supply is contingent on activity in the Axie Infinity game. The Smooth Love Potion , an ERC20 token, is the Axie Infinity ecosystem’s in-game currency. As such, players earn SLP when they participate in various gaming activities such as adventures and battles. Also, they use SLP to purchase the Axies they want to use during the games.

After earning SLP in the game, you will be able to manually claim it every 14 days. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed.

These NFTs can then be used or bought and sold for profit on the marketplace. Each Axie is its own NFT, making it entirely unique to the player who owns it. These Axies are the lifeblood of the game; players train them for battle while doing other activities such as treasure hunting. Axie Infinity is an online, arena-combat style game in which users collect and trade creatures called “Axies” with which they can fight other players. What’s so interesting about the game is that it is NFT-based, allowing users to have completely unique items with which to play.

SLP is more than simply gaming money for breeding new digital creatures in the Axie Infinity metaverse. It is also a prize symbol for gamers who achieve new levels or win battles with their Axies. Holders, on the other hand, can speculate on the SLP price and trade it on crypto exchanges. SLP is now a part of the play-to-earn movement, which allows gamers to make money while playing Axie Infinity. The SLP tokens spent in each Axie breeding will be burnt forever. Because users may only farm a limited number of SLP every day in the game, token demand is projected to rise as players strive to stay ahead of the breeding game.

Therefore, there are many investors who buy and hold it, expecting its value to increase in the future. The other reason why the demand for SLP will increase is the expansion of the gaming industry. As you are aware, the market for gaming products keeps on expanding as new users join the fray.

SLP is a highly volatile cryptocurrency, but as with all crypto it tends to follow the King, Bitcoin . Thus, despite its initial success, SLP soon saw a bearish turn with the 2021 crypto crash. Due to its loyal userbase, however, Axie infinity was able to avoid the fate of many cryptos during that period and stayed very much alive, though rarely surpassing $0.05. The value of SLP therefore relies on a fine balance which is dictated by supply and demand. Launched in 2018 by game studio Sky Mavis, Axie Infinity surpassed CryptoPunks, one of the first major NFT collections. On 16 September, Axie had a total traded volume of more than $4.25bn, compared with $2.93bn for CryptoPunks, according to data from DappRadar.