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What Is Pegaxy (PGX)?

Pegaxy (PGX) is a free-to-play mech-horse racing game built on blockchain. As a play-to-earn metaverse Pegaxy allows users to create real-world value through in-game activity.

The game implements a dual token economy based around the governance token PGX (Pegaxy Stone) and the utility token VIS (Vigorus). While PGX enables holders to influence decisions on the platform and profit through stacking, VIS serves as a main currency facilitating the commerce inside of the game.

During gameplay, users enter mythological creatures called Pega into player-versus-player (PvP) races and compete to gain monetary rewards. Out of the 12 participants in every race, the top 3 are given VIS tokens. Pega are available for players to buy, rent, sell and breed on the platform.

Pegaxy metaverse beta release on desktop took place on November 15th 2021. The company plans to carry out the game beta release on mobile towards the end of 2021. According to the roadmap presented in the project’s whitepaper, the official launch of Pegaxy on iOS and Android is scheduled for the second quarter of 2022. The PGX initial DEX offering (IDO) was held on Nov. 5, 2021.

Who Are the Founders of Pegaxy?

Ken Pham is the CEO and co-founder of Pegaxy (PGX). He holds a master’s degree in International Business and has a substantial background in business consulting and blockchain technology.

Pegaxy’s chief technical officer (CTO) and co-founder is Steve Nguyen, a professional engineer with extensive experience in building gaming platforms and mobile apps. He is also currently a CTO of Appota Group — a company focusing on providing platforms and technology solutions for the digital entertainment industry, based in Vietnam.

As the chief marketing officer (CMO) and co-founder of Pegaxy, Corey Wilton is involved in planning, development and execution of Pegaxy's marketing and advertising initiatives. He possesses a wide range of practical knowledge in digital marketing, blockchain and gaming.

What Makes Pegaxy Unique?

Pegaxy (PGX) aims to increase the accessibility of play-to-earn games and allows newcomers to join the metaverse with no initial investment. All the races in Pegaxy are free to enter and Pega are available for rent on a profit share model.

Pegaxy’s rental system is trustless and automated. Every rental agreement inside of the game is created along with an escrow account, which holds and eventually distributes the assets automatically, according to the predetermined conditions. By eliminating manual payments Pegaxy is able to ensure the transparency and safety of NFT renting on the platform.

Although the game was initially released in 2D, it plans to transition to be graphically represented in the three-dimensional space upon the completion of testing and confirmation of compatibility with low-end Android devices. Pegaxy is also preparing to introduce a player-controlled game mechanics and migrate from being an auto-racer to featuring a skill-based gameplay.

The game is designed to be community-lead and plans to decentralize gradually by handing over the control to PGX holders with the project's further growth.

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How Many Pegaxy Stones (PGX) Coins Are There in Circulation?

The total supply of PGX is 1 billion tokens. The allocation of the currency is as follows:

• Community developer incentives amount of 16% of the PGX supply;
• 30% is assigned for ecosystem reserve and marketing needs;
• 22% is held by the team;
• 10% is set aside for liquidity provisions;
• 10% was distributed through the first private sale;
• 10% allocated for the second private sale;
• 2% is devoted to IDO/IEO.

How Is the Pegaxy Network Secured?

PGX (Pegaxy) is an ERC-20 standard token built on the Polygon/Matic network— a layer 2 solution on the Ethereum blockchain. Polygon/Matic provides cheaper gas fees and increased scalability for Ethereum transactions.

When Will Pegaxy Stones (PGX) Trading Begin?

According to Pegaxy's Twitter, the project held a private sale in October 2021, raising $2.5 million from major investors including Crypto.com Capital, Kyber Ventures and Shima Capital. Pegaxy’s IDO took place on Nov. 5, 2021.

Can Pegaxy Stones (PGX) Hit $1?

Currently as of December 2021, PGX is on sale for around $0.25. Starting at $0.02 during the ICO, the token price experienced a significant increase upon the game's beta release in mid-November, and peaked at $0.9051. Considering that the project is actively growing and has gathered a considerable amount of attention from investors, media sources and fans despite being relatively new, Pegaxy has a chance of further growing the value of its governance token, especially with the anticipated introduction of the 3D gameplay, the rollout of skill-based game controls and the official release of Pegaxy metaverse.

Where Can You Buy Pegaxy Stones (PGX)?

PGX is available for purchase on KyberDMM (Polygon) and QuickSwap in the PGX/USDT trading pair.

New to cryptocurrency? You can read more about how to enter the market and how to buy Bitcoin (BTC), Pegaxy (Pegaxy Stones (PGX)) or any other token on CoinMarketCap’s education portal — Alexandria.