Axie game token skyrockets giving players a higher income than a graduate
Interesting things happening in the world of gaming and tokens this week. According to Cointelegraph, Axie Infinity’s AXS token “went on an impressive parabolic run” to hit a new high of $19.60, as did Small Love Potion (SLP) another token in the Axie Infinity ecosystem.
SLP is minted through gameplay and is a reward for users. It can also be used as a currency to breed Axies, which are NFT-based creatures populating the Axie Infinity world. And in the first week of July, as gamers surged to play the digital battle pet game, its price rose by 102% from $0.127 on July 1 to a weekly high at $0.257.
The future success of SLP depends on user growth in the Axie Infinity game, and its creators say it has seen “a significant uptick in new users” since it moved the game to the Ronin sidechain of Ethereum. This move in May appears to have given the game a boost. A recent report by Delphi Digital says “interest in the Axie ecosystem has grown at an exponential rate since the launch of Ronin, with the biggest growth seen in the Phillippines, Venezuela, Cuba, Qatar and the United Arab Emirates (UAE) beginning near the end of April.”
Cointelegraph says, “One reason for increased usage in certain geographical reasons relates in large part to the economic struggles of the population in those regions.”
Users are able to earn SLP daily through gameplay or farming SLP, and this has enabled them to make more money than a new graduate with a salary. One Twitter account tweeted, “Play to earn is disrupting global economies and it’s still pretty early. There are a number of ways within the game to make even more significant amounts with plots of land in the game fetching as much as 270 ETH.
And, as these new users enter the ecosystem, more Axies are required in order for them to play the game, which in turn has led to an increased demand for SLP to pay for breeding Axies. Currently, the daily volume of sales on Axie is exceeding $25 million with more than 50,000 NFTs being sold per day.