The humble beginning
The first day of playing Axie Infinity was a test of quick learning and self education. Had to install Ronin Wallet and Axie Infinity and then link it to Metamask. I skipped all the tutorials and guides and started playing.
When I started, players could collect 50 SLP from the daily quest, but this was halved after few days. One month gone and I still struggle to win the 5 Arena battles. After the reward halving, the price of $SLP started to drop, and I am still thinking if playing Axie is worth the effort!
On average, I spent 1 hour per day to collect 50 SLP from adventures and most of the time I don't even bother about the daily quest. This is not because I am lazy ... the real reason is the poor arena system, where I always play against opponents few times stronger then me.
Axie Infinity - One month of playing and earning SLP
I nearly played every day and I collected a nice stash of $SLP. I claimed 1369 tokens from the Axie game to the Ronin wallet in a quick and feeless manner. At the time of making the print screen, 1369 SLP were valued at 213 USD.
The next step was to send them to Metamask. The 2-step process will send the assets to Ethereum then will require a confirmation for the Ethereum transaction. The withdrawal will work only on Metamask, due to the signature confirmation.
I tried to make a mock test with 1 SLP and I said that my Binance SLP address is a Metamask wallet, and this transaction will ever be pending as no one was at home. I sent the remaining 1368 SLP to my Metamask and the first stage didn't required any fees. However, the gwei required to complete this transaction was $154. I decided to leave the transfer pending until gas fees will drop. Making $213 worth of SLP with such low commitment makes Axie Infinity a top play2earn blockchain game, and it can get even better if the transfer fees will be low.
SLP as a method of payment!
If the ETH cas fees will stay as high as today, than I will leave them on the Ronin wallet and I will start planning my future holiday in the Philippines. I seen an article about SLP and how the token has become an accepted currency, and the Bakebe app allows customers to pay with cryptocurrencies. Many shops inside SM Aura in Manilla began accepting Smooth Love Potion (SLP) for payments. There are other places where $SLP can be used, including sneakers shops, insurance, car service, laptop upgrades and even to pay for COVID-19 tests or online fitness classes. This
The wide use of SLP happened due to the high number of Axie players living in the Philippines, and real life usage as a currency. The SLP volume of trade has grown so much, that apps that can exchange the token for fiat money are trending. Many merchants are now accepting SLP for goods and services.
The Ronin wallet allows users to make 100 free transactions each day, and this helped with the implementation of SLP as a method of payment towards local merchants. Statistically, there are more Filipinos with a Ronin wallet then Filipinos with a credit card.
Statistically, an average player can earn approximately 5000 SLP tokens per month, but the numbers I found were before the reward halving. BloomX and Binance P2P has SLP to Philippine Peso (PHP) trading pair and comes as a solution for eth fees.
The Dental Centre in Mandaluyong had five patients that paid for treatment with SLP and many more merchants are onboarding the Axie Infinity reward as a method of payment. This made the tax office have a stand, reminding everyone that crypto earning must be reported.
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