When verticals collide interesting things can happen!
Ethereum game Axie Infinity meets Uniswap
The December update introduced a new token: Small Love Potion. The Small Love Potion (SLP) can be earned by battling in the PvP Arena or by playing the PvE Adventure mode.
Here’s the interesting part. Small Love Potion (SLP) is an ERC-20 token that can be used on the Ethereum blockchain. At the time of launch, the token had no predefined value (in ETH) as it was earned by playing the game. But because playing Axie Infinity is actually valuable, The community immediately identified the value and created a liquidity pool on Uniswap, and SLP actually started to have a trading value.
Nobody knows right now if Axie did this intentionally or if it is just another example of the power of blockchain and the layers of activity it allows – I’m sure they would love to comment!
ETH ⇆ SLP Uniswap pool statistics:
At the time of writing, the pool reserves are 52,861 SLP tokens and 8,809 ETH with a total liquidy of 2,518 USD. There are 33 liquidity providers and the price of 1 SLP is 0.00017 ETH (0.024 USD).
So what does this mean?
At the moment, anyone can sell or buy SLP tokens on Uniswap, but can also be a liquidity provider. This opens more possibilities for the players to earn ETH and this serves as a great experiment for further development of the dapps ecosystem.
Play Axie Infinity (PvP or PvE) to earn Small Love Potions (SLP) and then sell them on decentralized exchanges. Buy SLP tokens from Uniswap and breed the axies you already own. Nice and unique axies can be sold for ETH. Become a liquidity provider and enjoy the earnings from the pool fees.
Axie Infinity has more items, land and more, so the possibilities are more than just the ones listed above. Explore on your own.
Axie Infinity Official Site: https://axieinfinity.com/#
Axie Infinity Official Twitter: https://twitter.com/AxieInfinity
Uniswap Official Site: https://uniswap.io/
Uniswap Official Twitter: https://twitter.com/UniswapExchange