Game Analysis: Pegaxy
25 Jan 2023
6 min read
● Pegaxy is a Play-to-Earn PVP-style horse racing game where players compete against 14 other racers. Using strategic upgrades, food, and skill, players must place in the top 3 to earn the platform’s utility token: $VIS (Vigorus) or consumable items.
● In addition to racing, players can take advantage of their NFT Pega for Breeding, Fusion and Renting.
● Pegaxy is well respected within the industry for its innovation in trustless rental systems, on-chain technology, and well-weighted economic balance. Many also attribute its popularity to the gameplay, team transparency, and community involvement during the development process.
● Pegaxy is founded by The Mirai Labs, a team that specializes in Web3 Game Development, with members located all around the globe.
● Pegaxy has partnered with numerous gaming guilds, both large and small.
● In October 2021, Pegaxy completed a strategic sale of the ecosystems governance token, $PGX, and raised a total of $2,500,000. The rounds closed with three industry giants taking the lead: Crypto.com Capital, Kyber Ventures, and Shima Capital. Other investors include Kyros Ventures, AstroV Ventures, TAG Ventures, Real Deal Guild, Good Games Guild, Momentum 6, BAP Ventures, Asteroid Capital, Poolz Ventures, RADA, TK Ventures, DCI, Do Ventures, and TradeCoin Vietnam.
● The Beta (2D version) of Pegaxy launched on 15 November 2021 and within 36 days of running it has shown remarkable stats:
Marketplace Volume (36 days live): $10,066,064
Daily Active Players (36 days live): 16,037 unique players
Completed Races (36 days live): 1,144,529 races
Rental Transactions (36 days live): 126,373 rentals
● At the time of writing, Pegaxy has 92.5K followers on Twitter, 128.6K members on Discord, 14.5K members on Telegram, and 14.6K subscribers on YouTube. The team responds quite quickly on both Discord and Telegram to questions and problems raised by the community.
Pegaxy is a Play-to-Earn PVP-style horse racing game where players compete against 14 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). The game was released in 2D and transitioned to 3D once testing was complete, and will expand further once compatibility with low-end android devices is confirmed.
Within the game, players are able to breed, merge, rent, sell, and race their Pega to earn $VIS. This system has proven to be a sound long-term economic approach when building an NFT/Blockchain-based game as it enables teams to build large guilds, scholarship programs, and even provides solo players the opportunity to earn in-game tokens through daily racing.
All races are free to enter, and no fee is required to race. Before the race, players must attempt to balance their Pega according to the track’s elemental variables.
• Select "Racing" menu
• Enter the race lobby.
• Wait for the lobby to fill.
• Once the countdown is complete, the race will begin.
—Standard Racing (winning $VIS)
Your Pega will auto-race against 14 others. You can track your personal Pega by its position on the left or you can view them on track with an arrow indicating your Pega.
At the initial game release, the race is primarily determined by Random Number Generator (RNG), with slight decisions making also dependent on the Pega and Track statistics providing you with a fair opportunity to place in the top 3. However, 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 will allow for higher skilled players to have a better chance of top 3 placement, as they have invested more time into understanding the game mechanics.
—Drop Racing (winning various consumables items)
Introduced on July 25, Drop Racing is an alternative method of racing, where users race for items rather than standard VIS-based rewards. This new system will have a ‘chest and key’ structure where users can obtain different consumables to use in-game for various purposes. These rewards allow users to alter their Pegas to gain competitive advantages within their desired arenas.
• 1st – 3 Key Fragments and 20% chance of obtaining a “chest”
• 2nd – 2 Key Fragments
• 3rd – 1 Key Fragment
30 Key Fragments can be used to create a Key.
Reviewing the results, checking out competing Pega and replays. You simply click Play Record Next Match to continue. You are also able to send a link of the replay to someone else. The race rewards for Top3 are also visible to every player.
—The Grand Dash Tournament
The annual Grand Dash Tournament takes the top 12 racers with the highest statistics in each class, each month. There will be 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 in 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.
• Monthly Qualifier
A minor reward in $PGX will be gifted to the top 12 of each class that qualifies 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 the game. The top 3 racers of each class at the end of the tournament will receive these rewards.
There are 4 bloodlines of Pega, each one representing a different level of Rarity. Each one of the bloodlines is identified by its wing design.
• Founding Pega
There was a maximum of 5,000 Pega created as Founding Pega. These 5,000 represented the foundation of what would eventually become millions of Pega in the coming years. Founding Pega would be the rarest breed of Pega, if it was not for Crowned Pega.
• Crowned Pega
The Crowned Pega of Pegaxy is known to be Gods among Pega. For a chance to evolve your Pega into a Crowned Pega, an owner must possess 5 Fabled Tokens. If your evolution succeeds, you can not attempt it again on the newly Crowned Pega. You will need to then try on another non-Crowned Pega.
You are not guaranteed to successfully evolve your Crowned Pega, the probability calculations are in the table below:
Crowned Pega parts can not be inherited by their children, meaning if all Fabled Tokens are used, then no more Crowned Pega can ever be made.
Each track has a dominant trait, whether that be water, wind, strength, speed, or another. Owning a Stadium inside the Pegaxy Metaverse is one of the best ways to earn from the ecosystem. Stadiums will earn a certain % of Pegaxy's ecosystem revenue based on the amount of races held in that stadium. Stadiums cannot be specifically chosen while racing in Pegaxy, so the revenue distribution between stadium owners should be quite even. However, this model is likely to change as the game complexity increases and more data is available.
When racing inside Pegaxy, you have the ability to fit certain "Gear" to your Pega that will assist in the balancing of your Pega's attributes, according to the attributes of the track. Each piece of gear affects a different attribute. For example, if you have two chest plates, one may affect Water and one may affect Light.
It should be noted that the Gear has a positive and negative effect on attributes. For example, if you use a Chest Plate that adds 1% Strength, the Chest Plate will remove 1% in Speed or Fire. Here is a simplified formula: Speed <-> Strength <-> Fire <-> Water <-> Wind <-> Light <-> Speed.
Food inside Pegaxy is a single-use item that is used for the same reason as gear - to assist with temporary changes in Pega's attributes. The same formula stands for food as it does for Gear. The effects of food last 7 days and can not be removed until the 7 days are up.
Male and female Pega can be bred to get new Pega. There are multiple factors you need to consider when breeding, including the bloodline and tier of the parents.
When you fuse two of your Pega of the same breed type, the result is a Pega with one rarity higher than its previous. High rarity Pega participates in races with higher rewards. Legendary is the highest rarity of Pega. If you fusing two Legendary Pega would result in a Legendary Pega with NEW RANDOM stats
The Pegaxy rental system is the first trustless rental system inside of a Play-To-Earn game with a dual token economy. The system uses an automated payout and rental process. In short, 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). The Pega that is being rented out by the Manager is also held in the escrow wallet, meaning the Manager does not need to send the Pega to another wallet or directly to the Scholar.
—Apollo (Data Tracking Dashboard)
Pegaxy's Apollo brings you all the important numbers in one place. Data on everything such as the overall economy, personal statistics, and even events that have occurred in the game.
—Ares (Guild Management Tools)
A Guild management dashboard that makes in-game actions easier and more efficient. Crucial information, statistics, and actions such as rankings, delegation, sorting, and more for Guild leaders and members' wallets, are packed inside one tool for user convenience.
—Themis (Community Governance Platform)
This is a platform where PGX holders come to have their voices heard. A place where suggestions and proposals by the community for the community will be housed. Everyone will be able to voice their concerns and ideas more clearly.
You will be able to view proposals by other individuals, together with the option to create proposals that are your own or related to you. An account is required to hold at least $500 USD worth of $PGX to submit a proposal. Proposals will be screened, ensuring that they follow the guidelines for a standard submission. Located below the Proposal, are the options available on how to resolve the issue/suggestion at hand. Votes are to be finalized once the voting timer ends, and such can be seen on each proposal. An account is required to hold at least 1 $PGX to vote.
Pegaxy Stones ($PGX) are located on the Polygon Layer 2 chain, developed as the governance token of the Pegaxy Metaverse.
With a total supply of 1,000,000,000, $PGX has multiple use cases as follows:
• Breeding fee
• Purchasing of Pega on the marketplace
• Large tournament rewards
Vigorus ($VIS) is the primary "earning" and "spending" token inside the Pegaxy ecosystem. $VIS is minted (created) through players placing inside the top 3 when racing, there was no IDO for $VIS and no $VIS was ever "pre-minted". $VIS is burned (destroyed) through the Breeding model (and other $VIS sinks in the future). $VIS is also the primary token used for breeding and fusing. The amount of $VIS required to breed depends on the breed count of each Pega, while the amount of $VIS required to fuse depends on the breed type of the Pega.
Fabled tokens are an ERC20 token on the Polygon Chain for players to evolve their normal Pega into a Crowned Pega. They were earned by referring a person to the Pegaxy platform and having them purchase at minimum, one Pega. Fabled Tokens do not expire or disappear, they remain in your wallet until they are used and burned (destroyed) or sold on the peer-to-peer marketplace. The tokens are limited to 4,000 and the maximum amount of attempts at evolution is 800.
Mirai Labs is the founding team of Pegaxy. The team specializes in Web3 Game Development, with members located all around the globe. The team has been able to onboard over 90 full-time staff in areas such as Game Design, Engineering, Economics, Blockchain Development, Unity, HR, Product Owners, Art, Customer Support, and more.
In October 2021, Pegaxy completed a strategic sale of the ecosystems governance token, $PGX, and raised a total of $2,500,000. The rounds closed with three industry giants taking the lead: Crypto.com Capital, Kyber Ventures, and Shima Capital. Other investors include Kyros Ventures, AstroV Ventures, TAG Ventures, Real Deal Guild, Good Games Guild, Momentum 6, BAP Ventures, Asteroid Capital, Poolz Ventures, RADA, TK Ventures, DCI, Do Ventures, and TradeCoin Vietnam.
At the time of writing, Pegaxy has 92.5K followers on Twitter, 128.6K members on Discord, 14.5K members on Telegram, and 14.6K subscribers on YouTube. The team responds quite quickly on both Discord and Telegram to questions and problems raised by the community.
Pegaxy has the typical Discord channel discussions around gameplay, tutorial, bug, leaks, feedback, price discussion, and there's even a channel dedicated to scholars. Members from non-English countries are also accepted and given their respective channels for an international chat. In addition, there are fun channels for memes, artworks, and a channel called crazy-cat-people where members can share their cats—what a lovely community!
Pegaxy has organized several activities to attract users and engage their community, from giveaways to AMA events. Other than this, the team has routine updates about in-game development on social networks, so that users can monitor the progress of the project at each milestone.