To maintain a stable Smooth Love Potion token market.
Axie Infinity (AXS), a play-to-earn (P2E) blockchain game, has completely eliminated the token incentives from its traditional game mode in an effort to draw players to a new game mode called Axie Infinity Origin.
As of this Friday, Smooth Love Potions (SLP) will no longer be able to be made in the game's classic mode, according to the Axie Infinity team. The development team has said that the SLP awards would carry over to the new game mode. Minting won't be accessible for 30 days as the team goes through a monitoring phase to hunt for bugs, abuses, and exploits.
In addition, the company emphasised that switching from the old game mode to the new one will "balance the SLP economy." The team will also permit utilising SLP to construct other in-game bonuses like runes and charms in the new mode, in addition to removing the old prizes, to add utility to SLP.
The Axie Infinity team withdrew the SLP prizes for the adventure mini-game and daily tasks in traditional mode back in February in an effort to stabilise the SLP token's economy. Despite the team's efforts to alter the economy, the token has lost 98.7% of its value since reaching an all-time high of $0.39 in July 2021.
The nonfungible token (NFT) game, which accounted for over two-thirds of all NFT transactions in blockchain games, helped the P2E model gain popularity in 2021. A website that provides information about tokens, reports that the project showed $3.5 billion in NFT exchanges throughout the course of the previous year.
The NFT transaction volume for the Axie Infinity project increased 205% in July, despite the fact that its crypto tokens underperformed during the crypto winter. The project is "healing," according to its co-founder Jeff Zirlin, alluding to the favourable feedback for the game's NFT land staking feature.
