Metaverse is one of the latest trends in crypto/blockchain that went big in late 2021, following Facebook’s announcement that its parent company will rebrand into Meta. The move caused everyone to look into the metaverse and understand what is it about, which led to the discovery of numerous blockchain-based metaverse projects, and the creation of many more of them over the last six months.
While the metaverse technology has a number of use cases, including software development, running a business, organizing virtual events and meetups, and alike, so far it has established the strongest connection with the gaming industry. This, of course, led to the development of numerous gaming projects based on metaverse technology, such as Vulcan Forged PYR (PYR). Today, we wanted to look into this project and see what it has to offer, as well as why it has potential for investment, playing, and simply – participation in any way.
How Does Vulcan Forged PYR (PYR) Work?
Vulcan Forged is a blockchain game studio and NFT marketplace that created VulcanVerse, one of its first major products. The project features two tokens — LAVA, which players get to earn by playing the game, and PYR, which is the project’s main cryptocurrency used for paying fees, staking, upgrading in-game assets, and accessing its NFT dApp incubator.
We mentioned VulcanVerse, which is the project’s first game. It is a Grece-Roman fantasy metaverse made up of 10,000 plots of land. Other than that, there are services such as Anvil, which is a crypto-less and gas-free NFT engine for easy dApp and game onboarding. We also have the Vulcan Market, which is a gas-free NFT marketplace for Vulcan Forged games; Berserk, which is an NFT online TGG, and lastly, Frenzy, a create-your-own tournament platform that uses PYR as its reward token.
What Problems Does Vulcan Forged PYR (PYR) Solve?
The project focuses on several things, including interoperability, the use of NFTs, and granting use cases to its native token, PYR. With that said, here are some of its solutions and approaches to achieving the mentioned goals:
In-game asset upgrades
One of the things that the game’s native token is used is upgrading and sustaining game asset levels. This means that you can improve your in-game gear and tools, but also you can purchase new things in the form of non-fungible tokens (NFTs). That includes land, various decorative items, and more.
Access NFT dApp incubation program
Incubation programs are not new in the cryptocurrency industry. Many exchanges and companies have developed incubation programs and services, specifically to help new projects get a proper start and strong support by trusted companies, which encourages users to engage with them, explore their features and benefits, and alike.
Vulcan Forged PYR also features a program like that, although this one is for NFT dApps. Or rather, it partnered with the incubator called TDeFi, which is an incubator for DeFi and NFT startups, which onboarded Vulcan Forged about a month ago.
Multiple products
The project also features five major products, in addition to its existing and upcoming games. These include a Marketplace, VulcanDex, Agora, and MyForge. The Marketplace is an advanced multi-feature NFT marketplace that is interoperable, and runs on Polygon, VeChain, and BSC, allowing quick auctions, batch sales, and NFT trades for all Vulcan Forged games and partners.
VulcanDex is a decentralized exchange dedicated to gaming tokens only. In fact, it is the first such exchange in the world, and it allows users to play, swap, stake, and earn. It is also a cross-chain platform that features NFT farming, great APY rewards, and also PYR and LAVA pairs, with LAVA being the project’s second token.
Ext, there is an advanced multi-feature NFT marketplace on Polygon, BSC, and VeChain called Agora. Agora is dedicated to creating NFTs, exploring authentic NFTs, and creating entire collections. It differs from Marketplace which is dedicated to quick auctions and batch sales, as mentioned above.
Finally, the project has the fourth and final service called MyForge, where users can manage multiple cryptos, such as PYR, LAVA, ETH, MATIC, and others. This is where users can view and track their activities, achievements, rankings, XP, and earnings.
Benefits of Vulcan Forged PYR (PYR)
Next, let’s talk about some of the benefits that you stand to gain from Vulcan Forged PYR. There are several major ones to mention, including:
Paying for marketplace settlement fees
Vulkan Forged’s native cryptocurrency, PYR, is also used for paying for marketplace settlements, so you can use the token to take care of the fees. It should be noted that the fees are very low, so you should not worry about paying large amounts to take care of gas fees.
Staking
Another thing to note is that the project allows you to engage in staking. Like with other projects that belong to the DeFi sector, or feature DeFi elements, all you need to do is lock up a portion of your cryptocurrencies, and you will start receiving regular rewards for supporting the project. This is a great way to establish some passive income if you have tokens that you do not wish to spend or trade, but simply hold and wait for their price to grow in the future.
P2E
And, of course, one of the biggest advantages of metaverse gaming is the ability to earn by playing the games. Vulcan Forged is no different, and since it uses the Play-To-Earn model, you can easily earn some money that way also. However, you will have to earn some XP first before you can start earning money. The game first requires you to earn a total of 10,000 XP, which is earned through in-game actions, and after that, you become eligible to earn the project’s second token, $LAVA.
Bottom Line
Vulcan Forged is one of the metaverse projects with great potential, with a great many features to offer, multiple ways to earn funds, numerous use cases for its primary PYR token, and more. It is also worth noting that it has multiple features and services, and that its ecosystem can support numerous games. In other words, there is plenty that you can do with this project, and multiple reasons to engage with it on a regular basis.
