September 17, 2021
I mentioned in my recent articles that I am officially an Axie Infinity player. However, these axies are not mine but owned and bought by my uncle. I and my other cousin were just chosen to be his scholar which means we are the one who will play and grind on the game. He just invested in this game for the future return of investment and passive income aside from his main purpose of helping his relatives here in the Philippines.
My uncle is currently working abroad. Based on what I see and perceived, his social status is a little bit better than the middle income family. However, I cannot totally say that he is in the wealthy class. Maybe in the middle.
Days before we received our Axies, my uncle called my father to ask if I have knowledge when it comes to blockchain gaming, NFT’s, and such. Luckily, I have already been exposed to those things for a year now. Thanks to the people I’ve met here in crypto space, articles I read in read.cash, My DeFi Pet which is the first blockchain gaming I encountered, and etcetera.
Since I already have some existing knowledge, I didn’t have a hard time convincing my uncle why I should be his scholar. I also mentioned to him that I temporarily stop my academic journey, and I think that’s one factor why he chose me to be his player since I don’t have anything to do, I can focus more on the game.
We agreed on the 50/50 share of income - half to the manager and half to the player. Though we haven’t decided if the payout will be at the end of the month or we will just wait for the SLP’s price to spike.
Speaking of SLP price, that will be our main topic for today’s article.
I noticed that the Small Love Potion (SLP) is dropping drastically these past few weeks. This leaves me a bit disappointed because I am trying to farm more SLP to generate more profit but the price of it continues to drop. It feels like I am chasing money lol.
I opened my concern in our group chat which includes my uncle/manager, his two friends that’s willing to help in our Axie journey, and my cousin who’s also a scholar. I sent a screenshot of the current’s SLP price and asked them why the price of it keeps on going to hell. One of my uncle’s friends replied to my inquiry but didn’t answer it. Instead, he advised me to keep on playing and just ignored what was happening on the market.
However, my curious mind is still not satisfied with the answer I got. Since I feel no one’s gonna explain what’s happening, I seek answers on the internet, on Reddit to be exact. I saw a discussion there that tackles why SLP is dropping. According to them, due to massive minting of the token (thousands of players are farming SLP everyday), there’s already a surplus of the token supply. Aside from the huge supplies, the burning mechanism is too less. Basically there is an imbalance; supply is huge but demand is low. We all know that in simple economics that surplus leads to the prices of goods going down.
Just last September 12, Aleksander Leonard Larsen, COO of Axie Infinity, posted a series of tweets.
To sum up, the developers of the game are still thinking of a better way to make SLP's price spike or be stable .They need to do it carefully since they are avoiding the sudden spike of players because their capacity is not yet ready but they’re working on it. They are currently developing the Ronin DEX that might help to make the price of SLP more stable.
My ending remarks…
Well, I am still thankful that I can play Axie Infinity without paying any cents. I just need to practice and grind more to get more SLP. Hopefully, anytime soon the price will become reasonable to pay for our hard work :)).
You can read my recent articles...
I'm sure in the end buddy those hard work now will pay off😊.. I'm not into this game but I'm praying for your success.😊