Axie Infinity, once hailed as a pioneer in the play-to-earn gaming sector here in the Philippines, is now grappling with a significant setback as its native token, SLP (Small Love Potion), sees a drastic decline in value.
From its peak of PHP 20.00 in recent times, the value of SLP has tumbled sharply, now standing at a mere PHP 0.30. This downturn follows a gradual decline since August 2021 when SLP plunged from PHP 9.00.
The rapid depreciation of SLP underscores the inherent volatility of the cryptocurrency market, leaving investors and players in the Axie Infinity ecosystem concerned about its future prospects.
For those closely monitoring developments, a live update graph tracking SLP to PHP rates is available below, providing real-time insights into the ongoing fluctuations. As Axie Infinity navigates through these challenging times, questions loom over its ability to regain its former prominence in the crypto-currency landscape.
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Axie Infinity is a blockchain-based crypto-collectable game that allows users to train and battle playable characters called Axies. Players are tasked daily to compete in Adventure and Arena matches where they can earn SLP or Small Love Potion. SLP can be converted in to money.
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