Vulcan Forged
PYR is the utility token of Vulcan Forged, an NFT game studio, marketplace, and dApp incubator.
What is Vulcan Forged?
- Vulcan Forged is a game studio that supports more than 10 games like Vulcan Verse, Berserk, and Coddle Pets.
- It supports game developers and players alike by making games easy to play and easy to build.
- The platform mainly caters to developers via crowdfunding.
- The native utility token of Vulcan Forged is PYR, and it can be used to purchase assets across the games supported by the platform.
- Non-Fungible Tokens (NFTs) can also be purchased using the Vulcan Forged marketplace.
Key Metrics
| Token name | Vulcan Forged |
| Token Type/Protocol | ERC-20 |
| Total Token Supply | 50,000,000 |
| Current Circulating Supply | See Coinmarketcap |
| Market Capitalization | See Coinmarketcap |
| Token Creation Date | April 2021 |
| Can it be mined? | No |
Who is behind Vulcan Forged?
Vulcan Forged is led by Jamie Thomson, the CEO, Yiannis, the project manager; and Vasilis, the senior gameplay programmer with more than 40 people on their team.
They launched Vulcan Verse back in April 2021 with the mission to cater to more people and have the blockchain gaming industry offer the best games in the market. The structure of the games makes Vulcan Forged a great crypto platform for gamers and basically anyone with an interest in cryptocurrency in general.
What is the purpose of Vulcan Forged?
Vulcan Forged was created for multiple purposes–to serve as a platform where different games can exist while using the same utility token to exchange assets, and as a marketplace, for people to buy, sell, and trade NFTs.
Its utility coin, PYR, is built to be compatible with ERC-20 and Polygon/MATIC. This allows the users to exchange assets with little to no gas fees.
Insights:
Vulcan Forged, upon partnering with Polygon/Matic, has become a cross-chain platform with no gas fee, since Matic is built on layer 2 of Ethereum that is designed specifically to avoid the high transaction fee and low speed. As opposed to most cryptocurrencies that can be mined by other people in every transaction, Vulcan forged is a utility token that can only be used inside the ecosystem of game titles designed and supported by the Vulcan Forged team.
- PYR tokens are used across the Vulcan Forged games, like VulcanVerse and Coddle Cats for in-game purchases and NFT marketplace.
- Vulcan Forged can’t be mined because it’s unique in the sense that it can be exchanged with other currencies, mainly Ethereum and Polygon/Matic, but its main use is within the Vulcan Forged ecosystem.
- Vulcan Forged has a secondary token called LAVA. It works similarly to PYR, but it is acquired mainly through rewards.
Risks:
- Like many other NFT games and cryptocurrency transactions, the investors must keep in mind that doing prior research about the platform is essential since there is a chance that they will lose their capital.
- Investors should first learn and understand Polygon/Maticbefore getting into the Vulcan Forged platform. It’s a barrier of entry for people who are less tech savvy when it comes to understanding the nature of layer 2 cryptocurrency platforms.
News and Updates:
- Vulcan Forged will hold its VulCon 2.0 convention, a get-together with the community to celebrate the platform with the players and the game developers.
- Vulcan Forged recently added tickets to the VulCon 2.0 event to accommodate more people interested in attending.
- Vulcan Forged recently launched Elysium, the world’s first carbon-neutral blockchain. It is a collaborative project with Coorest, a Netherlands-based decentralized carbon credit exchange.
- Following the launch and expansion of Elysium testnet, Vulcan Forged recently experienced a surge in PYR/USD value, and maintained a relatively high position.
Community & Whitepaper Links:
Official Website: https://vulcanforged.com/
White Paper: https://vulcanforged.com/assets/pdf/whitepaper.pdf
Disclaimer
All investments are speculative and involve substantial risk and uncertainty. Investors should understand the nature of digital assets including the terms of return and the risk of assets. We encourage investors to fully understand the assets and the risk associated with them prior to making any investment.
