Vulcan Forged (PYR)

About Vulcan Forged PYR

What is Vulcan Forged PYR?

Vulcan Forged PYR is the native ERC-20 utility token of Vulcan Forged, a blockchain-based game studio and NFT marketplace. The platform is known for its Greco-Roman fantasy metaverse called VulcanVerse, as well as for creating a variety of games and digital assets in the Web3 space. PYR is integral to the Vulcan Forged ecosystem, serving as a multi-functional utility token with various use cases within the platform.

How does Vulcan Forged PYR work?

PYR functions as the fuel for transactions and activities within the Vulcan Forged ecosystem. The utility token is used across several facets of the platform, including:

1. Marketplace Settlements:
   • PYR is used to settle fees in the Vulcan Forged NFT marketplace, which is designed to allow users to buy, sell, and trade NFTs without gas fees, thanks to its Anvil engine.
2. Staking:
   • PYR is used for staking in the VulcanVerse, specifically for land and other in-game assets. Staking PYR tokens in the metaverse or game assets allows players to gain rewards and participate in the platform’s governance.
3. Game Asset Upgrades:
   • Players can use PYR to upgrade and sustain in-game assets within the various games offered by Vulcan Forged. This enhances gameplay, allows the development of assets, and boosts the play-to-earn opportunities in the ecosystem.
4. Play-to-Earn Rewards:
   • PYR is also used in the platform’s play-to-reward model, where players can earn tokens based on in-game performance, gameplay achievements, and interaction within the ecosystem.
5. Access to Developer and NFT Incubation Program:
   • Holding or using PYR grants access to the platform’s game developers and NFT dApp incubation program, helping foster innovation within the Vulcan Forged community and enabling the development of new games and decentralized apps (dApps).
6. Tournaments and Competitions:
   • Vulcan Forged also has platforms like Frenzy for creating custom tournaments, where PYR serves as the reward token for participants.

What are the potential use cases for Vulcan Forged PYR?

PYR has various potential use cases within the Vulcan Forged ecosystem, including:

1. Marketplace Transactions:
   • Used for paying fees on the Vulcan Market, a gas-free NFT marketplace where players can buy and sell digital assets, such as NFTs and game items.
2. Land and Asset Staking:
   • PYR can be staked in VulcanVerse, including staking in land plots (10,000 plots available) and other in-game assets. This allows users to earn rewards and participate in the governance of the game world.
3. Game Development and Asset Management:
   • PYR is used to upgrade in-game assets, boost asset levels, and enhance gameplay experience. It’s also utilized in facilitating game asset management within the broader Vulcan Forged ecosystem.
4. Play-to-Earn Model:
   • Through Vulcan Forged’s play-to-reward model, players earn PYR tokens by participating in various games and activities. This makes PYR central to earning within the platform.
5. Developer & NFT dApp Incubation:
   • The PYR token is used for granting access to Vulcan Forged’s incubation program for new game developers and NFT projects, encouraging innovation and growth within the community.
6. Tournaments and Competitions:
   • In the Frenzy platform, which enables players to create their own tournaments, PYR is used as the reward token. Players can earn PYR by competing in these tournaments and engaging with other users.

What is the history of Vulcan Forged PYR?

Vulcan Forged PYR was created by Vulcan Forged, a blockchain game studio and NFT marketplace that was founded by Jamie Thomson. The company is headquartered in Athens, Greece, and employs a team of around 30 core members spread across Greece, the UK, and Ukraine.

• Launch: The PYR token was introduced as a key utility token for the ecosystem, with a total supply of 50 million PYR. Of this, 20 million PYR were allocated as the maximum circulating supply, while an additional 10 million tokens are reserved for play-to-reward pools and transaction processing.
• Platform Expansion: Vulcan Forged has launched several successful products, including VulcanVerse (an MMORPG metaverse), Anvil (a gas-free NFT engine), and Vulcan Market (an NFT marketplace). The PYR token plays a crucial role in supporting and sustaining these applications.
• PYR Token’s Role: As the ecosystem has expanded, PYR has increasingly become an essential token for staking, upgrading game assets, and rewarding players within Vulcan Forged’s play-to-earn model.