Will Smooth Love Potion (SLP) reach $1?

Smooth Love Potion (SLP) is an ERC-20 token used in the Axie Infinity game universe. Smooth Love Potion tokens are obtained by playing Axie Infinity games since the project was founded by Trung Nguyen, who left his role as a software developer in the United States to focus on the project. One of the interesting facts about the SLP token is that the Smooth Love token is burned every time new Axies are bred.

SLP serves as the native in-game currency for Axie Infinity games. Play-to-earn games and games will remain popular over the next 10 years. Some estimates suggest that Play to Earn could grow 20-fold in the next 3 years. Here’s what we learned about the Play to Earn game

  1. Play to earn Games tend to do well when rewards are high. This may seem obvious, but remember that there are thousands of games in which there is nothing to gain and yet it has the people hooked.
  2. Almost all Play to earn games have struggled once the earning potential has decreased. This implies that games lack strength in quality and depend heavily on payouts.
  3. However, the value of the payment (in dollars) depends on the performance of the game token on the cryptocurrency exchange. Earnings value (in dollars) decreases if the cryptocurrency underperforms in the market
  4. Cryptocurrency prices in turn are influenced by numerous reasons, including macro and industry factors
  5. In other words, current play-to-earn models will not be viable unless they are fun regardless of the reward or the reward is substantially higher than the time spent (Example: Gambling)

SLP coin price forecast: performance over the last 6 months

  • September 2022: -7.6%
  • October 2022: +2.1%
  • November 2022: -24.5%
  • December 2022: -20.6%
  • January 2023: +51.4%
  • February 2023: +0.3%

Axie Infinity
Live player data (last 30 days): There has been a marginal increase in the number of players on the Axie Infinity platform. In the last 30 days, the platform has seen 411,633 players visit the platform.

However, this is well below the number of players who visited the platform before May 2022. The maximum daily number of users on the Axie Infinity platform was 2.7 million. On May 9, 2022, the number of active users fell below 1 million for the first time in 2022 and has declined rapidly ever since.

Currently, the
number of daily active users on the Axie Infinity platform is slightly more than 20,000.

Overall, SLPs and other Play-to-Earn tokens are heavily dependent on macroeconomic liquidity. The only way they can recover is through better quality of play or a significant increase in reward. At the moment, SLP is not a good investment.

Axie Infinity NFT collection statistics

According to data from DappRadar, NFT sales of the Axie Infinity have increased by 3.05% over the past 30 days.

Whereas, there is a 36.81% increase in NFT sales over the past 7 days.

Smooth Love Potion will reach $1: Why SLP could reach $1?

Blockchain Game Expansion: The blockchain gaming industry is expanding, and SLP is set to play a very important role in it. Axie Infinity is one of the most popular blockchain-based gaming cryptocurrencies. Smooth Love Potion (SLP) is the main game resource of Axie Infinity. Therefore, with the expansion of blockchian games, Axie Infinity will automatically earn and thus help increase the demand for SLP tokens.

Limited supply: Limited supply is one of the advantages of SLP. Currently, the circulating supply of SLP tokens is 43.33B. Now, once market conditions improve, there is a greater chance of increases in demand for SLP. Once demand increases, the chances of the supply of SLP decreasing are very high. With limited supply and increasing demand, SLP prices could start to rise and could reach $1 or more in the near future.

If we look at SLP’s future price forecasts, there is almost no chance that SLP will reach $1 even by 2030. However, it should be remembered that all these forecasts are aggregated forecasts from multiple platforms. It depends on current market conditions. As market conditions improve, SLP’s future price forecast will also improve.

However, a question arises, will Smooth Love Potion reach $1,
if so, then when and how will Smooth Love Potion reach $1? To check when and how SLP will reach $1, some calculations will give a clear picture.

How will Smooth Love Potion reach $1?

If SLP earns 20% per year, $1 in how many years? 31 Years
If SLP earns 30% per year, $1 in how many years? 22 Years

At current price and market conditions, the earliest time duration for SLP to reach $1 is 14 years, provided it earns 50% per year from now.

Will SLP reach $10?

SLP is currently priced at $0.0028, meaning it has to grow by about 3,571.42 times to reach a $10 price level.

In addition, the all-time highest price of SLP is $0.36 which it reached in May 2021. Note that SLP encryption grew 27.69 times in 5 months ($0.013 in January 2021). Thus, it grew almost 5.54 times in a month.

So, to
reach $10, SLP needs a minimum of 644 months (more than 53 years) which is not practical to wait.

moreover, considering the current macro and microeconomic factors, SLP can certainly exceed that value even in the calculated time. Therefore, SLP cannot be expected to reach a price level of $10.

SLP burning statistics

SLP Price Forecast 2023, 2025 and 2030

  • Smooth Love Potion SLP Price Prediction 2023 is $0.0300
  • Smooth Love Potion SLP Price Prediction 2025 is $0.0119
  • Smooth Love Potion SLP Price Prediction 2030 is $0.0543

Discussion on SLP Reddit

In a more recent discussion on Reddit, a user posted that SLP is better than AXS in terms of investment.

In this thread, a user commented that SLP is a highly undervalued asset and can work wonders in the situation of a better economy. He further added that one analyst firm also reported an increase in volume activity in SLP.

Even though the post doesn’t have much commitment as of now, it seems that some of the people have high hopes for SLP.

SLP Use Cases

The following are the main use cases of SLP tokens:

  • SLP tokens can be used to breed Axies within the Axie Infinity ecosystem.
  • SLP tokens are used to reward players when they win fights with their Axies.
  • Users can exchange SLP tokens for other cryptocurrencies on the crypto exchange platform.
  • SLP coins can also be used to make payments to various merchants in the Philippines.
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