Cryptocurrency exchange Binance is listing the Small Love Potions from Axie Infinity on their exchange. They will add the SLP token to their so-called Innovation Zone, which is meant for slightly less traditional currencies. They will only add an SLP/ETH trading pair.
The cryptocurrency exchange warns that tokens in their Innovation Zone are likely to have more volatility in their pricing. Investors need to go through a disclaimer and questionnaire before they are able to trade these risky currencies.
Small Love Potions have been around since the beginning on this year. Players earn these tokens by winning battles. They can then use the SLP tokens to breed new Axies, or sell them on the open market.
Crazy love potions volatility
The team behind Axie Infinity keeps stating that SLP is an utility token for their game. However, they also keep boosting how SLP is changing lives of people through the value it has. It’s safe to say that Small Love Potions are an interesting play-to-earn concept.
Players need one hundred Small Love Potions to breed a new Axie, but by winning a game they will only get three to seven SLP tokens. At the least players will need fifteen wins in the competitive arena to breed one Axie. Because of the time investment that is required, SLP gains value on the open market.
In July this year Small Love Potions skyrocketed in value. By the end of June the token had a value of $0.0031, but in July one token reached a value of $0.21. That’s a 67x increase in just a few weeks. Playing Axie Infinity beats minimum wage in several countries around the globe. Currently the price has been trading around $0.026, but the Binance announcement boosted the value over $0.05 within minutes.
What is Axie Infinity?
Axie Infinity is a tactical battle game in which two players fight each other using a team of cute creatures called Axies. These little weird balls of joy live in a world called Lunacia, and they come in all kinds of shapes in sizes. Their characteristics influence which moves they are capable of performing. They can be damage dealers, healers, or bad ass tanks.
Axies are deadly cute, that is an undeniable truth. But Axies are not only just cute, their appearance are almost unique. It is difficult to find two look-alike Axies since their body parts have various forms and shapes. There are more than 500 Axie’s body parts. Axies’ body and parts are classified into classes including Beast, Plant, Bug, Bird, Reptile and Aquatic, and more in future release. Moreover, the parts also come with four levels of rarity, which are Common, Rare, Ultra Rare, Legendary.
It is the battle system that makes Axie Infinity stand out. Axies will take turn to fight in a 3v3 battle. The Axies fight for their own will, but to win the victory, players need to a real strategist, from wisely choosing appropriate Axies for their team to placing them at the tactical positions. Soon the team will introduce land gameplay, their AXS governance token and there’s probably a lot more waiting beyond the horizon.
Robert Hoogendoorn is a gamer and blockchain enthusiast. He got in touch with crypto in 2014, but the fire really lit in 2017. Professionally he’s a content optimization expert and worked for press agencies and video production companies, always with a focus on the video games & tech industry. He’s a communication consultant for blockchain start-ups and writes not only for Play to Earn, but also other dapp websites and tech magazines.