Smooth Love Potion (SLP)

🚨 A 22‑year‑old young man bought two houses with money earned from video games. And with a single photo he crashed the Philippine economy

Game name: Axie Infinity

Players earned SLP tokens by battling creatures

Ordinary players earned $155–195 per month. This was roughly equivalent to a part‑time wage in the Philippines.

Those who built teams and ran players earned up to $20,000 per month (using only a phone).

Daily active players numbered 2.7 million, half of whom were from the Philippines

People quit their jobs. Families pulled their children out of school. Livelihoods became entirely dependent on game income.

Then everything changed.

The 22‑year‑old posted a photo in front of his two new homes on Facebook.
The state noticed this.

And acted immediately

In‑game earnings were declared “taxable income”.

Players were required to register as taxpayers and report their earnings.

But it was already too late.

$SLP lost 99% of its value within six months.

The government now drafts tax legislation for an economy that no longer exists.

Web3 gaming spent $15B to learn what traditional gaming solved decades ago.

A study by ChainPlay analyzed 3,279 GameFi projects launched since 2021.

The results are brutal:

- 93.7% of all projects are dead (tokens down >90%, active daily users <100).
- The average lifespan of a Web3 game is just 120 days.

This is the most expensive graveyard in internet history.

Phase 1 was the speculative P2E bubble.

We paid players to log in, which destroyed their inner motivation.

Psychology calls this the Overjustification Effect.

Financial incentives dried up. The player bases evaporated:

- Axie Infinity: Peak 2.8M daily players. Today: less than 100,000. $SLP token crashed from $0.40 to less than $0.003.
- StepN: Peak 1.7M monthly active users. Today: less than 43,000. solana:7i5KKsX2weiTkry7jA4ZwSuXGhs5eJBEjY8vVxR4pfRx token down 96% from its $4.10 peak.
- Hamster Kombat: Peak 300M registered users. Lost 86% of its active base in 90 days post-airdrop.

Phase 2 is the corporate outsourcing collapse.

Unicorn developer Mythical Games ($317M raised, $1.25B peak valuation) is bleeding.

They shut down Blankos PC, ghosted Blankos Mobile, and just closed Pudgy Party after 10 months.

But Pudgy Penguins didn't fail. They just divorced their developer.

They shut down Pudgy Party mobile to build Pudgy World in-house.

No more revenue sharing. All users migrated to their own L2, Abstract Chain.

Yuga Labs did the exact same thing. They moved Otherside in-house, cutting off Improbable.

The few survivors did something different.

Pixels peaked at 1M daily wallets and stabilized around 283,000.

They focus on social loops first, treat the wallet as invisible infrastructure, and built sustainable token sinks.

Paying people to play games is a death sentence.

When you turn fun into work, both die.