The Crypto gaming industry, DeFi, and NFT space witnessed a massive leap in 2020, contributing to an upturn in their fortune. Since then, the growth of all three spaces has continued to excel beyond boundaries and across borders. This is why the video gaming industry integrates blockchain technology with its services. According to data analytic firm InvestGame, the billion-dollar revenue industry developers believes the rise of the crypto gaming industry will bolster their fortunes. An example of a crypto game that has enjoyed this leap in fortune is Bomb Crypto, whose market capitalization is about $460 million. Pegaxy crypto game is also another blockchain-themed game making waves. However, to proceed, it is vital to understand what crypto gaming is all about and why it is attractive.
What Are Crypto Games?
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Crypto video games are built on blockchain technology and utilize the technology’s multi-functional capacities. Unlike traditional centralized games, they allow players to gain access to their ledger and own a part of it. This is why its users can use characters, skins, weapons, and coding of one game, for another. Via Play-2-Earn (P2E) mode, crypto games allow players to earn and use rewards across different gaming projects. These games also feature game modes typical of traditional centralized games like Player-vs-Player (PvP) mode. Players need to buy in-game money with fiat currencies or via a compatible crypto token to play these games. Popular crypto games include Bomb Crypto, Crypto Kitties, Pegaxy, Decentraland, Bomb, PlayBlankos, etc.
The most attractive feature of crypto games is their ownership structure. This is because they allow players to own in-game items, trade and sell them. This will eventually turn out as a reward for players, who can trade their in-game NFTs or collectibles. These games can also be an investment source for investors to earn returns. It is also worth noting that players need to spend money on these games to unlock important and attractive game features. However, while crypto games foster global crypto adoption, some games require users to possess little technical crypto skills.
What Is Pegaxy Crypto Game?
Co-founded by Ken Pham and Steve Nguyen, Pegaxy is a Blockchain-built free-to-play mech-horse racing game. It features a P2E and PVP rewarding mode in its metaverse, built on the Polygon/Matic Layer 2 Solution. Hence, it allows users to create a real-world through in-game activities. Due to its innovation and on-chain technology, it is one of the most-sought after crypto games in the Blockchain space, attracting global users. Its developers intend to focus on mobile gameplay. Hence its initial release was in the 2D version. However, after testing was complete, it transitioned into 3D compatibility, with plans to expand in the future. It implements a dual token economy based around its governance token Pegaxy Stone (PGX) and the utility token VIS. PGX holders can influence decisions on the platform and earn profit via staking. Alternatively, VIS is Pegaxy’s utility currency facilitating commerce inside the game.
A Deeper Dive Into Pegaxy Crypto Game
Pegaxy allows players to compete for top 3 placement against 14 other racers in a horse racing contest. These contests consist of elements like wind, water, fire, speed, etc. This is why players must utilize various strategies to ensure their horses (Pega) place top three in a race. The reward for the top three Pega is the project’s utility token, Vigorus (VIS). To earn a VIS token, players can also breed, merge, rent, sell and race their Pegas.
Apart from racing with their Pegas, players can earn by selling high-performing or newly-born Pega on the Pegaxy Marketplace. A player can also rent out their Pega in the Rental Marketplace to earn a reward. This way, they will be eligible to earn a portion of the racing profit if there is ever one. Lastly, the game also allows users to earn via competing in its global competition- The Grand Dash, which rewards the top 15 racers in a series of races that occur within 12 months.
How To Play Pegaxy Crypto Game
Pegaxy Crypto is available to play on its website and its mobile app. Players can download the game from the android and iOS stores on compatible devices. Players can purchase or rent a single Pega from its marketplace to enter the competition. The step below will guide you to playing the game successfully.
Step 1 – Connect Your Wallet
The first step is to download MetaMask and create a wallet. Metamask wallets are available on its website and downloadable on Android and iOS stores. After setting it up, you need to connect your Wallet to the Polygon Chain and Pegaxy Website.
Setp 2 – Enter Race
Players must own one Pega to enter the race. No worries, it can be purchased on its marketplace or even rented. Click the Enter Race button on the screen, and you will be pushed into a lobby matching your Pega’s class immediately.
Step 3 – Time To Race
You have a minute to check the track variables and fit gear in the lobby. This will help your Pega match the track variables. After that, you can watch your Pega race against 14 others. The top three racers will earn VIS tokens after the race.
The three stages to completing gameplay modes in the Pegaxy Crypto game are;
This mode is the game’s entry mode, where the minimum requirement to participate in one Pega. At this stage, players must balance their Pega according to the tracks elemental variables. Once you enter the game, you will click the Race tab. After that, an instant matchmaking area appears, and you will click Ready, which instantly pushes the Pega into a lobby. Inside the lobby, the Pega gets filled, and it is ready for the race to begin.
Your Pega is ready to race with 14 others to win prizes at this stage. Today, the Random Number Generator (RNG) solely determines the race outcome. The RNG’s decision-making depends on the Pega and Track statistics providing each horse with a fair opportunity to win. The RNG is open, honest, and trackable, with players availed equal opportunity to emerge as top three. However, the game developers plan to incorporate a player-controlled racing system in the future. This will allow players to determine the future of their Pega racing and compete fairly for prizes without system interference.
Players can Play Recording or view Next Match to see the race results. There is also an option to view race replays and share its link with others. In case of any suspicious activity observed, players can report it to the development team via the in-game module. There is no limit to race participation, as players can participate as much as possible. Lastly, race rewards for 1st, 2nd, and 3rd positions are visible to every player.
The Grand Dash Tournament
The Grand Dash is an event that holds its qualification rounds every month, with a finale held in December. The annual competition automatically qualifies the top 12 racers with the highest statistics in each class monthly. There are eleven qualification months before the final in December of the same year. Each month, 60 players across five classes qualify for the grand final, with 132 total racers qualifying for the Grand Final of each class. This qualification amount is obtainable from a pool of 660 players from all classes. The Grand Dash finale is the most important day of racing in the Pegaxy Metaverse.
The event is usually live-streamed for other unqualified players and the general public to watch. Alternatively, the platform also provides live scores of the matches to follow up on their openness and fairness mantra. Once a user qualifies for the tournament, there is no need to attempt another qualification process. The game developers reserve rights to modify the competition structure as it deems fit. As players qualify for the tournament monthly, they earn little rewards in PGX. However, players who emerge as the top 3 racers in the grand finale earn bountiful rewards. However, as the game moves towards a player-controlled theme, reward structures are bound to change.
What Is Pegaxy Stones (PGX) Token?
Pegaxy Stones (PGX) is an ERC-20 token with a maximum supply of one billion coins, located on the Polygon Layer 2 chain. It serves as the governance token of the Pegaxy Metaverse. When staking goes live on Pegaxy, token holders will be able to stake its treasury. Alternatively, stakers will earn rewards with PGX and can vote on crucial ecosystem developments and suggestions. According to the developers, players can earn PGX via large-scale tournaments and other events in the future. Other use cases of the PGX token include breeding fees, tournament rewards, and the purchase of Pegas. Alternatively, Pegaxy developers want to fall into complete decentralization to optimize the ecosystem’s performance. PGX is available for sale on KyberDMM (Polygon) and QuickSwap in the PGX/USDT trading pair.
According to Pegaxy’s development team, the allocation of PGX’x one billion total token supply is as follows:
- 16% of its token supply is for its community developer incentives
- 30% of its token supply is for ecosystem reserve and marketing needs.
- 22% of this total supply is for the team and held separately.
- 10% of its total supply is for liquidity provisions.
- 10% will be distributed via its first private sale, and yet another distributed for its second private sale.
- 2% of the total supply is for IDO/IEO.
What Is Vigorous (VIS) Token?
VIS is an ERC-20 token that serves as the primary and utility token powering the Pegaxy ecosystem. It has an uncapped total supply and resides on the Polygon Layer 2 chain. It is burned via breeding and mintable by players during a race. The token also powers breeding and fusing in the Pegaxy ecosystem. Players must place in the top 3 of any race to earn the token. According to Pegaxy’s developers, they plan to create a reasonably balanced mint and burn ratio. While doing this, they also want to avoid micromanagement and overpowering the ecosystem.
The crypto market is currently down and has got everyone on their toes. However, crypto games like Pegaxy can provide players with a side profit. This is because strategic traders would be able to earn rewards playing this game. Traders should also not forget to put in only the money they can afford to lose into these games.