TimeX’s newest coin listing is Smooth Love Potions (SLP), the native token of the highly popular play-to-earn game, Axie Infinity! By purchasing SLP, you’ll be able to take part in Axie Infinity, breed collectible Axie NFTs to deploy in game combat or sell, and benefit from any price rise due to increased demand for tokens as the game gains new players.
Axie Infinity: The #1 Play-To-Earn Game
Blockchain technology has much to offer the gaming sector, due to its ability to provide a seamless global infrastructure layer and payment methods for all players – regardless of where they live, or whether they even have a bank account. Using the blockchain to power games also enables new economic models, including the emerging ‘play-to-earn’ approach that allows dedicated gamers to generate an income while enjoying their favourite games.
NFTs, or non-fungible tokens, have also gained popularity in recent months. While NFTs rose to prominence as a means of trading digital artworks, they have become an important element of blockchain-based gaming. As unique, indivisible tokens, NFTs can be used to represent in-game characters, skins, or items such as special treasures and other inventory, allowing players to trade them securely on decentralised markets without third parties taking a commission fee.
Axie Infinity is one of the most popular play-to-earn games currently on the market. ‘Axies’, fierce but lovable creatures that can be bred or pitted against each other in combat, are represented by NFTs, while SLP is the native currency of the game – its everyday cash. Thanks to its blockchain-powered economics, many players are now able to earn a significant daily income in SLP, which can be sold on exchanges for other cryptocurrencies or local fiat currencies.
About Axie Infinity
Axie Infinity is based around the idea of collectible digital creatures called Axies: cartoon animals with unique computer-generated genetic code that determines their physical characteristics. There are billions of different possible permutations, and Axies can be bred with each other, combining their different traits. The aim is to create rare creatures who are good fighters, and set them against each other in combat teams run by other players.
Because Axie Infinity is hosted on the Ethereum blockchain, it is integrated with exchanges and NFT marketplaces – meaning all the tokens in the game are valued according to supply and demand. If a new and rare Axie is bred, it is likely to be more valuable on the open market. Similarly, the price of SLP tokens, which play an important role in the game, is set on global exchanges rather than centrally, by the Axie team.
To play the game, users will need three Axies. These can be purchased on the Axie marketplace. The more powerful and unusual the Axie, the more it will cost!
How SLP Powers Axie
SLP, or Smooth Love Potion, is Axie’s form of cash. It’s an ERC20 token with a current supply of just over 2 billion SLP.
As players engage in different battles and game modes, they receive SLP as rewards. Players will also need SLP to progress in the game because, as the name suggests, the tokens are needed to start the process of breeding new Axies.
Existing Axies can only be bred a limited number of times, and the more times a player breeds an Axie, the more SLP it costs. For example, the first time an Axie is bred costs 150 SLP, while by the seventh time, it costs 3,150 SLP. (After that, the Axie becomes sterile.) The characteristics of the baby Axies are determined by an algorithm that takes into account those of its parents, with the odds of receiving a particular characteristic weighted according to the type of genes it has. New Axies take five days to reach maturity, after which they can be hatched and used in the game. Every time Axies are bred, there’s a chance that the rarer characteristics will be passed down, which will make the creature more valuable in the combat arena and in the secondary market.
While rewards distributed to players increase the supply of SLP, tokens used to breed Axies are burned, helping to offset this inflation and increasing overall demand. You can find out more about how the token is integrated in the game in the SLP section of the Axie white paper.
Trade SLP on TimeX
Players need two things to get started in Axie Infinity: Axies, which can be bought from the marketplace, and SLP tokens, which can be bought on a number of popular exchanges. (There is also a governance token, which will become more important in the future and enable holders to influence the design of the game.)
TimeX now lists SLP, enabling users to purchase tokens in return for USD. Buy and sell SLP now, or register on TimeX to enjoy fast, secure crypto trading.