{"id":296542,"date":"2021-07-12T02:30:00","date_gmt":"2021-07-11T23:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/small-love-potion-slp-price-doubles-as-axie-infinity-user-growth-explodes\/"},"modified":"2021-07-12T02:30:00","modified_gmt":"2021-07-11T23:30:00","slug":"small-love-potion-slp-price-doubles-as-axie-infinity-user-growth-explodes","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/small-love-potion-slp-price-doubles-as-axie-infinity-user-growth-explodes\/","title":{"rendered":"# Small Love Potion (SLP) price doubles as Axie Infinity user growth explodes"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27e297dba62\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27e297dba62\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/small-love-potion-slp-price-doubles-as-axie-infinity-user-growth-explodes\/#New_users_drive_up_demand_for_Axie_breeding\" >New users drive up demand for Axie breeding<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/small-love-potion-slp-price-doubles-as-axie-infinity-user-growth-explodes\/#Gameplay_provides_users_with_a_daily_income\" >Gameplay provides users with a daily income<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Small Love Potion (SLP) price doubles as Axie Infinity user growth explodes  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Last week Axie Infinity&#8217;s AXS token went on an impressive parabolic run and hit a new all-time high at $19.60.\u00a0<\/p>\n<p>Small Love Potion (SLP), a token in the Axie Infinity (AXS) ecosystem that is minted through <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>play as a reward to users, also broke out with a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>le digit gain. SLP can then be used as a currency to breed Axies, which are nonfungible token-based creatures that populate the Axie Infinity world.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/b430b971-87f9-4639-9fa9-ece4ce8b4d75.png\"><figcaption style=\"text-align: center;\"><em>SLP\/USDT 4-hour chart. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/SLPUSDT\/\"><em>TradingView<\/em><\/a><\/figcaption><\/figure>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that the price of SLP has surged 102% from $0.127 on July 1 to a weekly high at $0.257 as new users flood into the play-to-earn digital battle pet game and drive the revenue of the Axie Infinity ecosystem to new highs.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"New_users_drive_up_demand_for_Axie_breeding\"><\/span>New users drive up demand for Axie breeding<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The success of SLP depends in large part on the overall growth and adoption of Axie Infinity, which has seen a significant uptick in new users since the protocol migrated to the Ronin sidechain of the Ethereum network at the beginning of May. <\/p>\n<p>A recent report from Delphi Digital highlighted that interest in the Axie ecosystem has grown at an \u201cexponential rate since the launch of Ronin,\u201d with the biggest growth seen in the Phillippines, Venezuela, Cuba, Qatar and the United Arab Emirates (UAE) beginning near the end of April. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/89e7a470-7f10-42d2-82c6-f126378e2cd1.png\"><figcaption style=\"text-align: center;\"><em>Daily Google interest and geographical split for Axie Infinity. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.delphidigital.io\/\"><em>Delphi Digital<\/em><\/a><\/figcaption><\/figure>\n<p>The increase in interest has led to an influx of new users over the past two months as evidenced by the growth in daily active users, unique Axie holders and the number of Discord members. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/3481c998-095d-41e6-9bd8-e6bfb7bd4b82.png\"><figcaption style=\"text-align: center;\"><em>Axie Infinity community growth statistics. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.delphidigital.io\/\"><em>Delphi Digital<\/em><\/a><\/figcaption><\/figure>\n<p>As new users enter the ecosystem, more Axies are needed in order for them to engage in gameplay, which has led to an increased demand for SLP since it is required in the process to breed Axies.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gameplay_provides_users_with_a_daily_income\"><\/span>Gameplay provides users with a daily income <span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One reason for increased usage in certain geographical reasons relates in large part to the economic struggles of the population in those regions. <\/p>\n<p>With users able to earn SLP daily through gameplay or farming SLP, some participants have been able to make more money through Axie Infinity than college graduates earn from working. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">At current prices, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24SLP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SLP<\/a> farming is even more lucrative than fresh grads salaries in Malaysia<br \/>200 SLP @ 0.2 = $40 a day<br \/>(Takes 2 &#8211; 8 hours)<br \/>$40 * 5 * 4 = $800 a month = RM3,200<\/p>\n<p>Play to earn is disrupting GLOBAL economies and it&#8217;s still pretty early h\/t <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nansen_ai?ref_src=twsrc%5Etfw\">@nansen_ai<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pUlQG7U051\">pic.twitter.com\/pUlQG7U051<\/a><\/p>\n<p>\u2014 Darren Lau (@Darrenlautf) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Darrenlautf\/status\/1412614496271540231?ref_src=twsrc%5Etfw\">July 7, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The process of breeding can also be quite lucrative for users fortunate enough to receive a \u201cMystic Axie,\u201d a rare form of Axie that now have a price floor of 30 Ether while genesis plots of land in the Axie Universe can fetch nearly 270 Ether. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Another Genesis plot just sold for almost 270 eth. And mystic floor price is climbing to 30 eth. This is just unreal. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AxieInfinity?ref_src=twsrc%5Etfw\">@AxieInfinity<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24AXS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$AXS<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/JAaRjpJU4c\">pic.twitter.com\/JAaRjpJU4c<\/a><\/p>\n<p>\u2014 Seuchenhund (@seuchenhund) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/seuchenhund\/status\/1412878376948350979?ref_src=twsrc%5Etfw\">July 7, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><strong><em>Related<\/em><\/strong><em>: <\/em><em>Argentine lawmaker introduces bill for workers to be paid in crypto<\/em><\/p>\n<p>As a result of the growth the ecosystem has undergone since early May, the daily volume of sales on Axie recently surpassed $25 million with more than 50,000 NFTs being sold per day. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/c2d5fae7-4166-4c33-9048-e05a4da54eb9.jpg\"><figcaption style=\"text-align: center;\"><em>Axie Infinity USD volume vs. sales count. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SJanuskas\/status\/1413858522597572608\/photo\/1\"><em>Twitter<\/em><\/a><\/figcaption><\/figure>\n<p>To help put the significance of the growth seen in the income generated from the Axie Infinity ecosystem into context, over the past week the protocol generated more fees than all other crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications combined.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-07\/a3ef0128-5919-4aa6-883e-cb36ea539753.jpg\"><figcaption style=\"text-align: center;\"><em>Seven-day protocol revenue. Source: <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Jihoz_Axie\/status\/1413769898468155394\/photo\/1\"><em>Twitter<\/em><\/a><\/figcaption><\/figure>\n<p>While the recent growth for Axie Infinity is impressive, it remains to be seen if the current pace is capable of being maintained into the future and the long-term success of SLP hinges upon a sustained expansion of the Axie ecosystem. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/small-love-potion-slp-price-doubles-as-axie-infinity-user-growth-explodes\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Small Love Potion (SLP) price doubles as Axie Infinity user growth explodes &#8221; Last week Axie Infinity&#8217;s AXS token went on an impressive parabolic run and hit a new all-time high at $19.60.\u00a0 Small Love Potion (SLP), a token in the Axie Infinity (AXS) ecosystem that is minted through gameplay as a reward to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":296543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvZDc1ZTg2NGEtODhkZS00NmZkLTg0YTAtYTgzMDY4Mzc1MGVhLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74891,95118,73785],"class_list":["post-296542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-ethereum","tag-nft","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/296542","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=296542"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/296542\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/296543"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=296542"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=296542"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=296542"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}