Written in January 31, 2022 (Thumbnail taken from Youtube)
Pegaxy
1/ Pegasus Galaxy (Pegaxy) is a free-to-play metaverse ‘horse’ racing game with futuristic styling. The goal is to win rewards in the form of Pegaxy native utility token. There are two tokens employed in the platform, both in the $MATIC network: $PGX (governance) and $VIS (utility).
2/ The game mainly revolves around three mechanisms. Racing requires mastery of in-game elements. Breeding Pega for resale profit as a trader in the market. Renting as a manager that is facilitated via escrow.
3/ The project was founded by Ken Pham, Steve Nguyen, and Corey Wilton. Ken Pham graduated in International Business and 6 years of experience as a director in a logistics and mining company. @RealCoreyWilton has extensive experience founding multiple fintech companies.
4/ Pegaxy successfully raised $18.6K in seed round and non-equity assistance. Its most notable investors are @cryptokom, @KyberVentures, @shimacapital, @KyrosVentures, @AstrovVentures, @realdealguild.
5/ Initially, the project was built in 2D, however updates have brought it into the 3D gaming system with further hopes of expansion to mobile devices (i.e. android).
6/ Diving deeper, there are 4 bloodlines that determine a Pega’s element: Hoz (lightning) – the rarest and elite, Campona (fire) – resistant and fast, Klin (water) – resilient in bad weather, Zan (wind) – focus and stability are their strengths.
7/ Gameplay is similar to that of drag racing games (i.e. CSR Racing). Currently, the mechanism is based on Random Number Generator (RNG) with slight decisions affecting win or lose. Further development would migrate from auto-racer to manual skill-based game (i.e. Asphalt 8).
8/ Breeding here is based on the types of bloodline (element). The only restriction is its cost via $VIS (linear) and $PGX (flat). There is also a cooldown of breeding ranging from 1 days up to 4 days.
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10/ 5,000 Pegas have been released through sales in October 2021. Every Pegas thereafter are the result of the breeding process (minting). At the same time, the PGX was launched through an IDO in November 2021.
11/ $PGX Tokenomics: 1,000,000,000,000 Total Supply. ERC-20 token in the $MATIC chain. It is not decentralized by nature during initial release, however further implementation of staking would realize it. Current use cases include governance, breeding, purchase, tournament.
12/ For transparency purposes the wallet data could be seen through https://github.com/Pegaxy/public-contracts.
13/ $VIS Tokenomics: similar to @AxieInfinity counterpart $SLP, main use cases: earning and spending. Total supply uncapped. VIS is minted from the top 3 players. Burn mechanism through breeding model. The awarded VIS is subject to change depending on the economy of the ecosystem.
14/ Another token but not sold to the public that Pegaxy uses is Fabled Token. The token is used for evolving from normal Pega to crowned Pega. Earned through referral to the platform and purchase at minimum one Pega.
15/ (continued) Limited to 4,000 tokens and 800 max evolution. During the event only 722 tokens are claimed. Evolutions are solely based by chance.
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17/ Sales volume is astonishing for the last two months, contrary to the crypto market in general.
18/ Below is the in-development version of renting a Pega according to Corey Wilton’s twitter. A much more economic system in contrast to the current.
19/ Looking forward, Pegaxy has several plans for the year 2022: Q1 2022 – web + mobile 3D racing, swap widget and RAMP integration, initial sale of food, official release web game, and crowned pega. Q2 2022 – first stadium sale event, initial sale of gear & gacha system, guild,
20/ (continued) Pegaxy hackathon incentive fund. Q3 2022 – rollout skill based game controls, official mobile game release, grand dash first global tournament. Q4 2022 – introduction of community treasury, bug fixes, staking $PGX.
21/ (continued) Q1 2023 – secondary racing mode, Pega burn system. Q2 2023 – sale of Perseus (rider). Q3 2023 – community based games. Q4 2023 – interoperability and cross-chain use of Pegaxy NFT in other games.