Pegaxy Reviewed: a deep dive into this NFT horseracing game

Blockchain gaming is not that new a concept in the crypto world anymore—well, at least not to people who stay updated with what’s happening in the crypto space. Different game studios have invested a great deal of resources in developing different games. These games utilize blockchain technology to support the play-to-earn model that allows players to claim ownership of in-game assets. However, the gameplay itself is different as you move from one game to the next.

You have card-related games that allow players to collect, trade, and even battle their cards against opponents. You also have the likes of Axie Infinity, where creatures (the Axies) fight against other creatures. Meanwhile, an NFT game like CyBall has a football theme allowing players to pick a starting lineup together with substitutes before playing against an opponent’s team.

The common theme is that most NFT games use already familiar gameplays and build their games on blockchain technology. Pegaxy is not any different. But it’s not about creatures, cards, or any of that. This game is based on horse racing, but it uses futuristic mythological horses called Pegas. Pretty interesting, right?

So, in this article, you will learn how Pegaxy works, the game’s tokenomics, how you can start playing it, and how you can make money from it. Let’s start at the beginning.

What is Pegaxy?

Pegaxy is a simulated horse racing play-to-earn game. The game launched on the polygon network. The game’s objective is pretty simple; players have to choose a horse (these are called Pegas in the game) and race against 11 other players. Players whose horses finish in the top three get rewarded with VIS, one of the game’s tokens.

That’s the general idea of how Pegaxy works. However, as you will learn in the next section, finishing in the top three is not as easy as it may sound. First, not all horses are equal. Every horse belongs to a certain bloodline which directly affects its attributes and performance.

Moreover, every race takes place under different conditions. Therefore, a particular horse may perform exceptionally well in one race, but the horse may struggle a lot when the conditions change in the next track.

Also, there are limitations to how many races a single horse can participate in within 24 hours. Still, individuals who are willing to invest in the game will find that Pegaxy has the potential to be a decent investment.

The Pegaxy project was founded in early 2021 by three guys; Ken Pham (CEO), Steve Nguyen (CTO), and Corey Wilton (CMO). However, since its initial release, the Pegaxy team has grown exponentially to a team of over 50 members. That means Pegaxy has one of the largest teams of any NFT gaming project.

The project has staff members from all over the world. They’ve also acquired talents for all critical departments to help the project move forward. You have game designers and engineers to ensure the game looks stunning and runs smoothly. Blockchain developers to support the game’s play-to-earn model. Customer support staff, product owners, and HR managers are also present.

Pegaxy also has a promising roadmap showing what’s to come. For instance, they want to host the first stadium sale event in Q2 of 2022. They also want to add a staking feature, lootbox, 3D gameplay for mobile devices, etc. Some features are even scheduled for Q4 of 2023. It would be interesting to see how the project progresses in the future.

The roadmap also shows some of the milestones the team has already achieved. For example, they managed to roll out renting and breeding features in 2021. Hopefully, they’ll follow their timeline in releasing the other scheduled features.

How does Pegaxy work?

Pegaxy has a simulation or hands-off gaming experience. Make no mistake. There is a lot you have to do before the game starts. But once that race kicks off, that’s it. You’ll just wait for the result.

So, before the race starts, you’ll need to get your horse or Pega ready. Unfortunately, players don’t get a free Pega, meaning you have to invest financially to acquire a Pega and participate in the game.

On the brighter side, you don’t have to buy a Pega if you can’t afford one. You can rent a Pega and use them for weeks. These can be rented directly from the marketplace or through guilds. Renting is cheaper but buying a Pega is always a good idea.

Before choosing a Pega, you need to understand the different horse attributes. First of all, every horse belongs to one of the following bloodlines:

  • Hoz – Hoz is one of the founding Pegas. It’s also the rarest of all founding pegasus. Hoz Pega are elite and married to the lighting. They are mighty on the track. Therefore, you can make quite a lot with a Hoz pega on the track. But remember, bloodline is not the only thing that affects a horse’s performance on the track. Other attributes come into play as well. So you still have to find the right horse for the unique conditions of the race.
  • Campona – Campona Pega are bonded with fire. They are fast and resistant. These horses can persevere in fiery conditions on the track.
  • Klin – The Klin bloodline is known as the master of water. They thrive in wet and rainy weather conditions.
  • Zan – Zan bloodline Pega are designed for windy conditions. Drop this horse bloodline on any track with strong winds, and their performance will only get better.

In terms of rarity, Hoz is the rarest, followed by Campona, Klin, and then Zan.

The Pegasus have two rare traits:

  • Founding Pega – Founding Pega were created by the Pegaxy developers when the game launched. Only 5,000 of these horses exist. That means owning a founding Pega is a huge deal because they’re extremely rare, hence highly valuable.
  • Crowned Pega – Crowned Pega are the rarest Pega in the Pegaxy metaverse. These pega are considered gods. Crowned Pega are formed when players burn five Fabled Tokens to evolve an ordinary Pega. If you don’t know, Fabled Tokens were given to initial investors through a referral program. Players got one Fabled token for every friend they invited to the game. According to Pegaxy developers, only 722 Fabled tokens exist in the economy. Therefore, there is still a chance that you can evolve your horse into a Crowned Pega. However, there is no guarantee that you’ll be able to do so even if you got all five Fabled tokens.

Besides the rare traits above, Pega also comes with three other traits; speed, fire, and strength. These attributes will also influence the track performance of your Pega. Thankfully, you can boost the attributes by equipping your Pega with gear.

Gears are considered as NFTs and are available in the marketplace. You can also sell your gear. There are four types of gear; headwear, knee wear, chest wear, and backside wear. Each gear improves a specific attribute of the Pega. Moreover, it can hurt another attribute. For example, chest wear may add strength and reduce fire or speed.

Gear is not the only thing that can boost your Pega’s performance. There is also food! The Pegaxy multiverse also offers two types of rare Pega food; sacred nectar and joy of sunshine. Sacred nectar reduces the maturity time of a newly born pega. This food can have your Pega ready to race in three days instead of the standard four days.

On the other hand, Joy of sunshine is used to change a Pega’s color permanently. You won’t be able to change the color back once it happens. This food is used only once.

The last factor that affects a Pega’s performance is the track. Every track in the Pegaxy metaverse has a dominant trait. It could be strength, wind, water, speed, lightning, etc. As you can expect, using a Pega whose bloodline matches the track’s trait gives you an advantage.

Unfortunately, Pegaxy doesn’t have much to offer in terms of game modes. They have daily races that players can participate in within the limits of their Pega. Remember, one Pega can only race 25 times within 24 hours.

Note that it doesn’t cost anything to enter the daily races. You just need a Pega, and you’ll receive rewards if you finish in the top three.

Besides the daily racing quests, you have the Grand Dash Tournament. This event has monthly qualification rounds that lead up to the grand final held in December. Pegaxy plans to hold this tournament every year.

Players receive a small reward for qualifying in the monthly qualification rounds. Then, the top three grand final winners get a larger reward.

The Pegaxy economy has two tokens. Well, technically, they are three if you count Fabled Tokens. However, those tokens are pretty limited and will most likely disappear from the economy since they get permanently burnt every time a player tries to create a crowned pega. That leaves the two tokens below:

  • Pegaxy Stones (PGX)PGX is an ERC-20 token. It is Pegaxy’s governance token. PGX’s total supply is 1B allocated to different entities within the ecosystem. PGX token holders will have voting rights to the project’s development. These tokens can be earned by participating in activities like the grand dash tournament. In the future, players will earn PGX as rewards for staking their tokens. The staking feature will become available once the community treasury is introduced. As for use cases, PGX will be used as a breeding fee for purchasing Pega in the marketplace and staking.
  • Vigorous (VIS) – VIS is the primary in-game currency. You can earn this token as a reward and use it to purchase different items in the marketplace. VIS tokens are earned when you finish in the top three. The same token is also used as a fee when breeding a Pega.

Let’s get to the exciting part now —getting started to play the game.

How to play Pegaxy?

Getting started with Pegaxy is very simple. First, you need to connect a Polygon wallet to the game. You can connect a MetaMask wallet or a Coinbase wallet. That will also allow you to log into the game.

Also, note that the developers are yet to release the mobile application of the game. Therefore, you can only play it from the website. Just visit the official Pegaxy website and click “Play Now” from the menu at the top. This will take you to a new window where you can connect your wallet, browse the marketplace, and explore the various activities, i.e., racing, breeding, and renting.

After connecting your wallet, go ahead and purchase your first Pega. You can also rent one instead of buying. Each Pega has attributes attached to its profile so you can see its bloodline, gender, and breed. Choose a Pega that aligns with your playing style or objectives of playing the game.

After acquiring a Pega, enter a race, and you will immediately get into a lobby. The system will then match you with horses of the same class.

Once the matchmaking is complete and the lobby is full (every lobby requires 12 players), you’ll enter a preparation window. You can assess the track’s attributes and equip your Pega with the necessary gear at this point. You only have 60 seconds to do this.

That’s it. The race will start once the 60 seconds elapse, and it’s hands-off from there. You can now watch your Pega’s progress and hope they finish in the top 3 to receive some VIS tokens.

How much money can you make with Pegaxy?

There is no shortage of money-making opportunities in the Pegaxy metaverse. So whether you’re looking to be an active or passive investor, you will find the right opportunities on Pegaxy.

First, you can make money by simply playing the game. As mentioned earlier, the top three finishers in every race receive VIS tokens. Besides the daily tokens, you can also play the grand dash tournament and stand a chance to earn PGX governance tokens.

The other more passive options are selling and renting your Pega. Pega breeding also comes in here. You can purchase a Pega to improve its attributes then sell or rent it in the marketplace. But keep in mind that breeding attracts both VIS and PGX fees. The whitepaper has a formula showing how much you will pay depending on factors like breed count and breed number.

Since Pega are metal creatures, the game does not restrict you from breeding with parents, siblings, children, etc.

Staking is another feature, but it’s still in the pipeline. Staking on Pegaxy will work just like in other NFT games. Players will be given a chance to stake their tokens and earn PGX as a reward.

But perhaps the most exciting money-making feature yet to come is stadium ownership. Players will be able to purchase stadiums in sales events announced by the developers. If you are lucky enough to purchase the stadium, you will earn some income from the revenue generated in the Pegaxy economy.

The exact income will vary depending on the races hosted in the stadium. The developers say that stadiums are picked randomly for races, so earning potential should be pretty even for all stadium owners. But this may change as the game grows and becomes more complex.

In Closing

Hopefully, this piece has helped you understand what Pegaxy is all about and whether it’s a project worth investing in. Keep in mind that most features are still to come. Therefore, we’ll be updating this post as the project progresses.