Crypto trading and investment platform Phemex is making strides to deliver on its mission to build and support the metaverse. The full-service crypto exchange was launched in 2019 and has already built out a bevy of tools. In a short amount of time, Phemex is already approaching 100 total spot and contract pair offerings. Now, the platform continues to show its support of the metaverse by listing the Axie Infinity-based token SLP. In addition, Phemex is hosting a special Metaverse edition of their popular Grab a Coin Campaign where users can join to win SLP.
The platform’s latest “Choose Your Reality” campaign kicked off its focus on metaverse-related projects. Now Phemex expands upon that initiative by listing the Axie Infinity-powered token, Smooth Love Potion (SLP). The move comes after Phemex already introduced support for two other metaverse-based tokens in recent months: native Axie Infinity platform token AXS, and Decentraland’s MANA token. The exchange has also introduced their own virtual reality GameFi product and hosts a deep-dive brief on everything you need to know about Axie Infinity on the Phemex Academy.
The announcement to support SLP shows Phemex’s prolonged interest in metaverse-based products and platforms. SLP is an ERC-20 token that is earned by playing Axie Infinity and winning battles against other players. It can be used to breed new Axies. Additionally, SLP can act as incentives for Axie Infinity players who reach certain levels, and SLP can also be used to buy and sell items outside of Axie Infinity. While SLP had to be previously earned through in-game battles, increased accessibility of SLP courtesy of Phemex will allow the Axie environment to grow and develop even further.
Axie Infinity has served as the ‘face’ of play-to-earn thus far, as the landscape continues to grow and expand. 2021 proved to be a massive growth year for Axie Infinity and many other play-to-earn and metaverse products. This bodes well for the longevity and innovation in our constantly-growing digital worlds. Through its SLP listing, Phemex shows clear belief in the emergence of the metaverse, as well as other relevant initiatives like GameFi, play-to-earn, and NFTs.