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The crypto market is going through one of its worst moments, reaching historical lows in its value, and it is already proclaimed that the bubble has burst, one of those affected is the play-to-earn video game “Axie Infinity”, its currency called “Smooth Love Potions” has been on the decline for a while and is now worth less than a penny for the first time.
“Axie Infinity’s SLP (Smooth Love Potion) coin went to zero! (approximately)”, tweeted Lars Doucet, a video game developer. “Now it’s down to $0.004, rounding to the nearest cent is $0.00.”
Due to a saturation of their own market, the developers of the crypto-game assured that “players need more than a way to win a random token, the token needs a mechanic that allows it to maintain its value”. The company behind Axie Infinity tried to address the issue by removing SLP “farming,” allowing players to spend SLP when joining tournaments for a better prize, but that wasn’t enough to offset the drop in coin value. .
The game’s free fall comes after it was able to generate a fifth of all NFT trading late last year. But his problems started after a hacker stole $625 million from the blockchain where Axie Infinity is hosted.
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