To create a new gaming experience for crypto enthusiasts, Pegaxy is introducing a PVP-style futuristic horse racing game. Check out a detailed overview of this upcoming play-to-earn game.
The crypto gaming and NFT-based protocols are growing at an incredible pace right now. By adopting the play-to-earn model, we see many projects like Axie Infinity attract users, help them witness true ownership of in-game assets, and enable them to make money off of them. The utility added by NFTs to crypto gaming is what fuels any economic model. And it is not just limited to play-to-earn. Crypto gamers can use the NFT marketplace to flip their in-game assets into NFTs.
While the growth of play-to-earn is unquestionably impressive, it still has a lot of room for improvement. It is hard to onboard players in a seamless way. There is no proper bridge for players to understand the workings of a blockchain game. Also, the transaction fees and network charges are constantly fluctuating, leaving interested gamers on the sidelines. More importantly, the games are also not that appealing to the modern-day gamer. A few games like Axie Infinity may be on the come up, but no one wants to be limited to one or two options.
To create a new gaming experience for crypto enthusiasts, Pegaxy is introducing a PVP-style futuristic horse racing game. The game has everything one can expect from a play-to-earn blockchain game with different horse bloodlines, competitive tournaments, and a dual token economy. But can it become one of the best games in crypto? Let’s find out in this article.
About Pegaxy
Pegaxy is a fantasy horse racing game where players earn coins, tokens, and glory. Each race is different every time, with various elemental variables such as wind, water, fire, and speed that can boost or slow your horse down. Upgrade, feed, and train your horse to its full potential and become the best. Players can breed, rent, sell and race to gain VIS tokens. Players compete against 11 other racers in an attempt to earn a top 3 placement. All players inside the top 3 earn VIS tokens, the platform’s utility token. Knowledge, strategy
This system enables guilds, scholarship programs, and solo players to earn VIS for daily racing. The first 5,000 Pega, dubbed “Founding,” will be launched in October 2021 alongside the PGX launch via IDO in the same month. The first 5,000 Pega will be minted through the breeding model inside the game.
Players can earn in multiple ways
Blockchain gaming projects are rapidly adding new and exciting features that allow players to earn income in multiple ways. Of course, the play-to-earn model is at the core of any game, but there is much more to it.
In Pegaxy, players are given a rental marketplace to lend and borrow horses. Borrowers simply have to pay the rent for either a single race or fixed term. In return, the lenders will get fixed rent and a share of racing profit. This is an exciting feature, as it allows to create of a constant cash flow for players owning multiple Pegas. And they don’t have to actively participate in the game to make money.
Another way to earn with Pegaxy is reselling “Founding” and “Crowned” Pega for a higher price through the marketplace. The limited supply of Pegas will properly incentivize early adopters of the game, and they can expect to make decent returns.
As mentioned earlier, Pegaxy has a dual token economy in PGX and VIS. The former is used for governance, while the latter adds utility to the game. These tokens are rewarded generously to the active players. And they can be maximized by playing global competitions. “The Grand Dash” is a 12-month Pegaxy world competition that will be a series of events to decide the top 15 racers.
According to the whitepaper, the team expects to release a community treasury for players to stake their PGX tokens. This not only elevates user experience but will also help with the deep liquidity of the in-game token.
How does it work?
Gameplay
The gameplay of Pegaxy feels futuristic. It is also more appealing to new gamers as the platform does not charge any fee to participate in a race. The only requirement is to own a pega. Unlike most blockchain games, Pegaxy has a simple interface that will allow players to get into a match after clicking the “Race” tab.
Game Lobby
Once the matchmaking is finished, the players are sent to the lobby to figure out their Pega gear, if any, to change attributes that can increase winning chances. It is also important to note that — if a new gear adds a positive attribute, it can also have a negative effect. For example, a chest plate can add strength, but it will slow the Pega by a few percent.
Gear
So there is a lot of strategy building going on before the game even begins. Once the race starts, players can view their position on the left or on track on the right-hand side. Initially, the team plans to use a Random Number Generator (RNG) to determine the results of a race. This is likely going to level the playing field for all racers. The players also have to keep in mind the track attributes. If Pega’s core element, Earth, Water, or Speed, doesn’t align with the track, it gets challenging throughout the race.
Earth Track
Buying & Selling Pegas
The in-game marketplace offers players to buy and sell their Pegas for tokens. Now, players can opt to buy Pegas in two ways — Buy Now and Auction. The former method is a straight-up payment by the buyer, and the marketplace or the game charges players a fixed 3% seller fee on every transaction.
If players elect to go with an auction, they need to place their in-game NFTs with a reserve price. Once it is listed on the marketplace, users can place bids till the timer runs out. If the reserve price is not met, the auction ends with no sale processed.
Breeding
Pegaxy Breeding Service
Another cool feature about Pegaxy is breeding. Players can design their own strategies to get the best possible baby with unique traits and attributes. Obviously, many factors play a crucial role, such as breed type, cooldown times, and gender.
Before getting to the bloodline part, let us first understand the cost of breeding. The maximum breed count allowed is seven, and it may change based on the game’s economic balance. In terms of rarity, Hoz is the rarest, and Zan is the least rare bloodline. If two Pegas of different bloodlines mate, it is guaranteed that the baby will be born as the least rare among the two. The chances of it being a higher-tier horse are slim. Here is a better illustration:
Cooldown time is crucial for players to engage in more races. The least cooldown time is given to the Hoz bloodline, and it is 24 hours. The highest is 96 hours for Zan bloodline. The gender of a newborn baby cannot be affected by any factors, and players can only rely on the 50/50 probability. However, the team plans to introduce a new NFT food type that could increase breeding a male or female. This feature will be released in later stages of game development.
Competitor Analysis
NFT and P2E games are here to stay. And Pegaxy may eventually become a top play-to-earn that adopted a similar economic model like Axie Infinity. Many people think Pegaxy is very similar to ZED Run and DeRace, but we have found some stark differences that make Pegaxy a better game.
The current P2E games are not mobile-ready. And Pegaxy is planning to lead on that front, making it easier for players to sign up, start playing, and generate income. Another major difference lies in the skill sets required to play the game. In the case of ZED Run, there is little to no player involvement. With Pegaxy, skilled players who understand the game mechanics will be rewarded fairly. Pegaxy also removes entry barriers by providing an automated and trustless scholarship system on the platform.
Token Economics
As mentioned earlier, Pegaxy is using a dual token model where one acts as the governance token, and the other adds in-game utility to the players. Both of them are ERC-20 based and launched on Polygon layer two chain.
The governance token (PGX) is called Pegaxy Stones. It has a max total supply of 1 billion. On release, the game will not offer players multiple ways to earn PGX tokens. But as it matures with more players and community growth, the team will add a staking feature. Players can also hold these tokens to gain the power of voting on ecosystem development and suggestions. The PGX token can also be used for buying gear or food for Pegas on the marketplace. The best way to earn these tokens is through large tournament rewards.
The utility token of Pegaxy is called Vigorus (VIS). These tokens provide the primary source of earning potential for players. VIS tokens also come with a mint and burn mechanism that helps sustain the ecosystem and incentivize players to place in the top 3. Anyone outside the top 3 is not eligible to claim VIS rewards. The primary game token is also used for breeding. The amount of VIS tokens needed depends on the breed count of each Pega.
Breeding Cost
Outside of the dual tokens, Pegaxy also has a unique token called Fabled that lets players evolve their normal Pega into a Crowned Pega. They are only limited to 4,000, and the team predicts the probability for players to land a Crowned Pega is less than 50%. As a result, we can expect a maximum of 800 Crowned Pegas in circulation.
Investors Details
Pegaxy raised nearly $2.5 million in their first investment round from industry-leading firms in crypto, such as Crypto.com, Kyber Ventures, IBC Capital and Shima Capital. The other notable investors who participated in this round are — Kyros Ventures, Astrov Ventures, Real Deal Guilds, poolz Ventures, Good Games Guild, TK Ventures, and Black Mamba Ventures.
Recent Progress
The private sale of $PGX tokens is now over. And the team announced they are planning to launch an IDO on November 5th. There will be a whitelist system, and the IDO price is going to be $0.02.
The founding Pega sale is also around the corner. Apart from that, the game is surely building a passionate community that gives the best feedback to make necessary improvements. Their online presence is still at an early stage, but we can expect everything to change once the game is live by the end of this year.
Roadmap
The team has laid out a comprehensive roadmap in their whitepaper. Once the IDO and beta release are finished in Q4, the game’s actual development is going to start. Features like renting and breeding will be available. And players will be given access to the marketplace. By the end of 2021, we can expect a complete beta version of the 3D horse racing game. And it will be compatible with both mobile and desktop.
In 2022, the team plans to start the grand tournament and launch the game on traditional app stores. Later in the year, we shall also see community treasury and staking of PGX tokens. The game’s final stage would be adding a secondary racing mode and enabling users to play on multiple chains. Interoperability and the Pega burn system will be key in the final stages of Pegaxy development.
Conclusion
We have seen how impact play-to-earn can be with Axie Infinity. And in the coming years, it won’t be the only game empowering players to make a side income. Pegaxy could potentially have similar success, given the economic models are similar. But Pegaxy is looking superior in terms of gameplay. As there is more interaction, players will stay engaged for a longer time, enabling the network to grow much faster. However, it is safe to save our comments once the game is released. If you want to witness a new kind of gaming experience, you need to play the game first-hand. The interesting part would be the mobile version. No project managed to bring blockchain games to the pocket-friendly gadget, so if Pegaxy does that, we are potentially seeing a game that could play a major role in the mainstream adoption of NFT-based play-to-earn games.
Pegaxy Recently Announced Details about their upcoming public token sale.
- PEGA WHITELIST racehorse October 25, 2021 7 PM PHT until October 27, 2021 7 PM PHT (UTC+8)
- PEGA NFT SALE October 29, 2021, 7 PM PHT (UTC+8)
- IDO PGX TOKEN SALE on KrystalGO Platform November 5, 2021
You can find all the details about whitelisting on Pegaxy Twitter.
You can find more details about this project from its Website, Whitepaper, Twitter, and Discord.
Don’t forget to check: A Beginner’s Guide to Zed Run: Digital Horse Racing NFT Game
Born and brought up in India, Karthikeya Gutta is a crypto journalist and freelance contributor for ItsBlockchain. He covers various aspects of the industry with in-depth analysis and research. His passion towards blockchain and crypto ecosystem is mainly because he believes it can really change the world and help millions of people.
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