Deep Dive #29 | Pegaxy | The Racing Game With Futuristic Mythological Styling

Introduction

Our childhood must be no stranger to classic entertaining racing games and having unforgettable experiences. Feelings of suspense, suspense, joy, or regret may still be left in the memory of each person. Based on those racing games, the developers have created a unique game called Pegaxy. Because with the development of the gaming industry, coming to Pegaxy, players can play for fun and earn money through the play-to-earn (P2E) mechanism. This project promises to bring players many great experiences and will be a project that many investors are looking for.

Market Analysis

Market Overview

In general, the gaming industry has a sizable market share, and the amount of money circulating in this industry is increasing. More and more unique titles are being developed as Blockchain Gaming develops. The gaming sector has gotten a lot of attention, plus its advantages, which will be a significant positive for Pegaxy. Still, there will be a lot of fantastic competitors as well. However, Pegaxy will continue to gratify many investors today and in the future.

Major Rivals

F1 Delta Time

F1 Delta Time, with a market capitalization of $42.9 million, is a Formula 1 racing game on the Ethereum platform, allowing users to collect, buy and sell cars or car parts, and provide a marketplace for players to shop suffer for their car parts.

DeRace

DeRace, with a market capitalization of $76.4 million, is the 2nd decentralized NFT digital horse racing platform in the world after ZED Run. With DeRace, players can buy, breed NFT horses and many other interesting features.

Pegaxy’s outstanding features

Gameplay

Pegaxy is a combination of thrilling horse racing and today’s modern technology. Pegaxy belongs to the Play-to-earn mechanism, allowing players to experience the racing of the horses – Pega they own to compete with 11 other competitors to reach the top 3 and receive VIS tokens.

Pega Racing

In each Pegaxy race, the information about the stats of the races will be given at random, and then the player will choose his Pega to participate. To achieve high rankings in the races, besides the problem of having a good Pega index, the player’s mindset is critical. Because stats are random and can complement and counter each other, it’s important to take advantage of race stats. Making good use of the attributes and fully equipping Pegaxy is also a way to get ahead of opponents. However, Pegaxy still applies the Random Number Generator (RNG) – a technology that makes decisions for each race based on the parameters of the Pegas. ​​Some unreasonable points will happen if the Pegas have the same stats in the same race.

After each race, information about rankings, awards, and achievements will be announced on the screen.

Breeding

To own a Pega in the game, besides buying or renting, players can also create a new Pega based on the Breeding feature. To create a new Pega, the player must use the two-parent Pega he currently owns and spend a certain amount of tokens in the game. New Pegaxy, after being created, will have stats, attributes, species based on their parents, and players can fully use them for personal purposes such as racing, selling, or renting.

Renting

Unlike previous Play-to-earn games, it is mandatory to purchase or open items from the pack on Marketplace to get started. Pegaxy allows players to rent the Pega they want to experience the game, and if the player wants to have a long-term cohesion, they can buy Pega at Marketplace. The rental system at Pegaxy operates on a mechanism that allows owner users to lease their NFTs to other parties through escrow smart contracts. At the start, the leaseholder will receive the NFTs deposited into the escrow wallet along with all earnings from that NFT. Income is automatically distributed every 15 days according to the rental agreement terms.

Gear 

Pegaxy has developed an intriguing feature called Pegaxy equipment. Besides the basic stats that a Pega has, players can enhance those stats by equipping Pega. The equipment owned by the player can be added or removed from Pega before the start of each race to create creativity and tactical thinking for the player and not to be boring in each different race.

Marketplace

This is where the NFTs buy and sell (possibly Pegas, Gear, food for the Pegas, and in the future possibly stadiums). Users can also put their Pegas up for sale directly – set the price and sell it, or also put their NFTs in the nearest auction to bid. Buying and selling NFTs on Marketplace is completely transparent, and Pegaxy also charges a fee of up to 3% for each transaction you make.

Roadmap

We are in Q1-2022, in February, Web + Mobile 3D Racing (Closed Beta) and Official Release Web Game. The project’s roadmap is also quite clear and precise, allowing investors to comprehend the following phases’ goals quickly. The game has now been out, and the project is performing well and attracting a lot of investor interest. Let’s wait and see what interesting things Pegaxy will do with its advantages in the future.

Things to note about Pegaxy’s Token Economy

Token Distribution

Token name: Pegaxy Stone

Ticker: PGX

Blockchain: Polygon (MATIC) Chain

Token standard: ERC-20

Contract: 0xc1c93D475dc82Fe72DBC7074d55f5a734F8cEEAE

Token Type: Governance

Total supply:1,000,000,000 PGX

Cliff time, as well as vesting, is quite reasonable. However, the percentage of tokens that the team holds is up to 22%, which is a relatively large number and creates an unsafe feeling for holders.

Token Utilities

PGX acts as the main token and is used in the cases of Breeding fee, Purchasing of Pega on the marketplace, Staking, Large tournament rewards. Therefore, players can only receive tokens through trading and rewards for major tournaments that Pegaxy organizes.

Network Valuation and Asset Pricing

Pegaxy has a volume of over 2 million dollars within 24 hours. The exchange with this token currently has only KyberSwap (Polygon). Despite the current negative influence of the general market, in general, the price of Pegaxy tends to increase. Perhaps this is not an impressive volume number at this time, but with the project’s potential, it promises to cause a “storm” in the market in the future.

Unique Selling Point of Pegaxy

Pegaxy gives players an experience with a comprehensive ecosystem where gamers can play, interact, and work in the same space. In addition, each player is a part of supporting the entire MetaVerse Celestial Horse Racing Manager experience.

In addition, Pegaxy focuses on developing programs to encourage players in developing countries to access free games and earn money, especially during this complicated global pandemic. From there, it can be seen that this project tries very hard to optimize the player experience, which not all games can do.

Marketing of the project – Not impressed yet

Facebook: Pegaxy – There are more than 45000 followers

Twitter: @PegaxyOfficial – Has more than 70000 followers

Telegram: Contact @pegaxyglobal – Has more than 15000 subscribers

Discord: Pegaxy – There are more than 145000 active members

Compared to other projects on the market, these are not perfect numbers but not bad numbers either. These numbers are not a barrier for investors to invest in Pegaxy. We can hope that the community will be expanded more in the future.

Besides, there is a big difference in the number of subscribers in Telegram and members in Discord. We know that Telegram helps investors update the project’s status, and Discord is the place to discuss the game. Therefore, this game is interested in experiencing rather than investing. Hopefully, what the project will do in the future will attract more investors.

Who are the backers of the project?

Investor & Partner

Pegaxy has many high-quality investment funds such as Crypto.com Capital, Kyber Venture, etc. This is a very potential project, and it can be believed that the project will receive many investors in the future. 

Team

Pegaxy owns a potent team. They are people with many years of experience in the field they are in charge of. With youthful enthusiasm, this team turns Pegaxy into a formidable game.

Conclusion 

Pegaxy is a Play2Earn game of the horse racing genre. With the typical Play2Earn mechanism, where the effort and thought that players put in are paid fairly, Pegaxy has done it right and transparently. Combined with random features for each race and beautiful 3D graphics, Pegaxy creates less of a sense of boredom for long-term players.

Pegaxy’s UX-based approach to product development incorporates all six key elements (Gaming, Play-to-earn, Esports, Breeding, Staking, and Selling) into the product strategy. Pegaxy is a potential project that can develop well in the market with the information just provided.