Updated: Apr 28, 2022
Author:Christian Joseph Zambale
As days go by, more and more NFT games are coming out. Today, we look at the ever popular Pegaxy on the Polygon network. Currently, most of these games will require you to have a large upfront cost to play. However, more games are introducing scholarship or revenue share programs which allow more users to play without the upfront capital. In other games like Axie Infinity, they have an established scholarship program which allow you to split proceeds with someone else. In this article, we are going to talk about Pegaxy, a new horse racing NTF game, and its interesting take on the scholarship program.
What is Pegaxy?
According to their white paper, Pegaxy is a play-to-earn PVP-style horse racing game where players compete for top 3 placement against 11 other racers. Each race has randomized elemental variables which include wind, water, fire, speed, and more. Using strategic upgrades, food, and skill, players must place in the top 3 to earn the platform’s utility token, VIS (Vigorus).
It aims to become the home of horse racing in the Metaverse, while simultaneously providing an ecosystem where users are able to play, socialize and work in the same space.
In order to play the game, you will be required to have a Pega, this is the game’s main NFT. Pegas are mechanical horses with wings, and the gameplay revolves around them. Each of them has different stats which makes them unique to one another. These stats are separated by bloodlines (rarities), the rarer the Pega, the more stats it has, meaning more speed. There are four bloodlines of Pega, these are; Hoz, Campona, Klin, and Zan. Hoz being the rarest and Zan being the most common.
To be able to support the game’s long-term economic approach players can breed, sell rent and race their Pega.
Like most blockchain games Pegaxy has its official marketplace.
Here you can buy Pega, and in order to purchase one, you can either buy it with USDT or PGX (Pegaxy Stone), the game’s governance token. You can find different rarities of Pega here, common Pegas are much cheaper than rare ones. Unfortunately, the marketplace does need a bit of work as it’s a bit difficult to find specific combos of horses. Ie, 0 breed sorted by the lowest cost + off cooldown. I believe this is a feature that the team is working on!
The Polygon Network (MATIC)
The Pegaxy Metaverse is built on the Polygon/Matic Layer 2 Solution and utilizes the dual token economic model initially introduced by Axie Infinity in late 2020.
The governance token is PGX (Pegaxy Stone)
The utility token is VIS (Vigorus).
To be able to transact in Pegaxy’s marketplace you will be needing MATIC. In order to do that, you will have to choose Polygon MainNet on your Metamask’s Network (note: your USDT and other assets like Pegaxy Stone must be in the same Polygon MainNet). Here, you can store, withdraw and deposit your game earnings. MATIC is what you need when paying gas fees. Don’t worry though, the deduction is very small.
Through community involvement and eventual governance, the Pegaxy game direction and development will be dictated by the players.
The Gameplay and Reward System
The screenshot is taken from theAPEcoach Youtube Channel – PEGAXY GAME LAUNCH GUIDE: Breeding, Racing, Marketplace, Renting, Scholarships + Earnings!
Pegaxy’s gameplay is all about racing. At the initial gameplay release, the races are primarily determined by Random Number Generator (RNG), meaning all you and all the players have a fair chance to make it to the top 3. Every race has its prize pool (VIS), and this prize pool will be divided into the top three winners. Of course, the prize will be divided on how the winners finished, gold (1st placer) will take 50% of the prize pool, silver (2nd placer) will take 30% and bronze (3rd placer) will take 20%. The VIS coin is Pegaxy’s utility token, similar to Axie Infinity’s SLP. Every race you win will earn you VIS, this is the reward that can be swapped into different cryptocurrencies or fiat money. To be able to race Pega will need energy, each race costs one energy and each Pega has a limit of 25 energies. Energies can be replenished over time (1 energy/1 hour).
Things like temperature, humidity, stadium, tracks, gears can affect the outcome of the races.
According to the game development team, Pegaxy will eventually migrate away from being an auto-racer to a more traditional/manual skill-based game. People will be required to manually control their Pega during a race, this opens the opportunity for skilled players to better perform in-game. These updates will come about in the upcoming months following release.
Player controlled racing. (Skill based racing)
In-game Pega equipments (tentative, depending on communities feeling towards the idea)
Renting: The Scholarship Program
Pegaxy has an interesting take on its scholarship features and here it is called Renting. Renting has two main kinds, Fixed Rental, and Profit Share.
Fixed Rental (Pay Rent Fee): The traditional way of doing rent. Here, a Pegaxy owner will post his/her Pegaxy that can be rented. The owner can decide the terms of the rental, for example, an owner decides to rent his/her Pega for 290 PGX for 3 days. If you want to rent, you can pay the amount and will be able to use the Pega for 3 days. Yes, for the whole three days that Pega is yours to play. You can race with it, replenish its energy, that Pega is yours, and all of the accumulated rewards are yours 100%. Of course, if you can’t pay that 290 PGX, you can always look for cheaper options. Some owners post their Pega for as low as 50 PGX for a day, you just have to be wise on choosing what to rent. Another important thing to note is the energy of the Pega. Renting Pegas with low energy is always not worth it, since instead of racing with it right away, you will have to replenish its energy. Be patient and be careful, as you can always find a great deal with a good amount of energy.
Profit Share now this is the twist, similar to Axie Infinity’s scholarship, this feature allows owners to post their Pegas in order for people to use it. Unlike the Fixed Rental, renting here is free, the catch is, the profit will be shared between the owner and the renter (scholar). The Pega owner will be the one to set the terms, he/she is the one to decide the percentage on how is the profit shared. This is free and open for all, meaning as long as you have a Metamask account connected to Pegaxy, you can participate (you will need to have MATIC balance as participating here costs gas fee). If the renter (scholar), is not performing very well, the owner can easily take back the Pega. This is a great opportunity for owners who owns a lot of Pegas and does not have the time to play them and for people who are not fortunate enough to buy or pay rental Pegas.
Pegaxy’s main goal is to create a community where Owners and Renters are treated equally, they can earn by racing their Pega in PVP mode, selling high-performing or newly born Pega in the marketplace, and renting out their Pega in the Rental Marketplace for a share of racing profit or fixed-term rental.
It is important to know that both owners (manager) and renter (scholar) are protected by Pegaxy’s security. Pegaxy provides an escrow account for every rental agreement that receives all rewards and automatically distributes them according to the agreed rental profit share (eg. 70% Scholar, 30% Manager). This system provided a large opportunity for low-quality Managers to “scam” unsuspecting Scholars by having them work for weeks or months on end, and never paying the Scholar for their hard work.
The Grand Dash Tournament
It seems that Pegaxy also wants to launch its own Esports scene. The annual Grand Dash Tournament takes the top 12 racers with the highest statistics in each class, each month! There are 11 qualification months with the Grand Dash Final held in December of each year.
Each month, 60 players across 5 classes qualify for the grand final, with 132 total racers qualifying for the Grand Final of each class (660 players all classes combined). The Grand Final is the single largest day of racing in the Pegaxy Metaverse. Live-streamed across all platforms with live statistics and races, spectators are able to watch from the quarterfinals, the semi-finals through to the grand final for each class.
Rewards For Winning
A minor reward in $PGX will be gifted to the top 12 of each class that qualify for the Grand Dash Final in December.
The Grand Dash Final
Large $PGX rewards are allocated initially from the Ecosystem Fund, however eventually these rewards will come from the Community Treasury. These rewards are generous and designed to assist in the growth of the players in game. The top 3 racers of each class at the end of the tournament will receive these rewards.
Since Pegaxy is aimed at a more skill-based and balanced gameplay, this is a great feature for players to showcase their skills.