Vulcan Forged

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This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Vulcan Forged?

Vulcan Forged (PYR) is a play-to-earn game that allows players to earn cryptocurrency by winning, selling, and upgrading their in-game assets. It operates on the Ethereum and Polygon platforms, utilizing its native token PYR for various purposes such as fees, staking, and marketplace transactions. Players can earn rewards through staking, upgrading land, and participating in various in-game activities.

How is Vulcan Forged used?

Vulcan Forged (PYR) is a cross-platform utility token used in the Vulcan Forged ecosystem, a community-based blockchain gaming platform. Here are the primary ways PYR is utilized:

  1. Marketplace Settlement Fees: PYR is used to pay for fees in the Vulcan Forged marketplace, which is a gas-free NFT marketplace for Vulcan Forged games.

  2. Staking: Users can engage in staking by locking up a portion of their PYR tokens to support the project and earn regular rewards.

  3. Upgrading In-Game Assets: PYR is used to upgrade and sustain game asset levels, enhancing the gaming experience.

  1. Buying and Selling NFTs: PYR can be used to purchase NFTs, virtual real estate, and virtual items within the Vulcan Forged ecosystem.

  2. Play-to-Earn (P2E) Benefits: PYR is used to earn P2E benefits, such as rewards for winning, selling, and upgrading in-game assets.

  3. Access to dApp Incubator: PYR provides access to Vulcan Forged's decentralized application (dApp) incubation program, supporting game developers.

  1. Launchpads for DeFi Games and Gaming Pools: PYR is used in launchpads for decentralized finance (DeFi) games and gaming pools, further expanding its utility.

Overall, PYR is a versatile token that supports various aspects of the Vulcan Forged ecosystem, from marketplace transactions to staking and gaming rewards.

How do I store Vulcan Forged?

To store Vulcan Forged (PYR) tokens, you have several options based on your needs and preferences:

  1. MetaMask: As PYR is an ERC-20 token, you can add it to MetaMask, which allows you to manage your funds directly within your web browser.

  2. KuCoin Account: You can store your PYR in your KuCoin account, which provides quick access to trading products like spot and futures trading, staking, and lending. KuCoin acts as the custodian of your crypto assets, ensuring security and convenience.

  3. Non-Custodial Wallets: For maximum security and control, you can withdraw your PYR to a non-custodial wallet, such as hardware wallets, Web3 wallets, or paper wallets. This option grants you complete control over your private keys but may be less convenient for frequent trading.

  1. Market Wallet: For interacting with the Vulcan Forged Marketplace, you need to move PYR from your "Main Wallet" to your "Market Wallet".

  2. Ledger: You can also store PYR on a Ledger device, but you may need to manually import the token contract address to view it.

Remember to set up strong passwords and security settings to prevent unauthorized access to your funds.

How to buy Vulcan Forged?

To buy Vulcan Forged (PYR) tokens, follow these steps:

  1. Create an Account:

    • Go to a cryptocurrency exchange like KuCoin, Binance, or Uphold.
    • Register for a free account on the exchange's website or mobile app.
    • Verify your email address and identity as required by the exchange.
  2. Choose a Funding Method:

    • Select a payment method, such as a credit card, debit card, bank transfer, or Bitcoin.
    • Ensure the exchange supports your chosen method.
  3. Make a Deposit:

  • Deposit funds into your exchange account using your chosen method.
  • Wait for the funds to clear and be available for trading.
  1. Buy Vulcan Forged (PYR):

    • Navigate to the exchange's trading platform.
    • Select Vulcan Forged (PYR) and your deposit currency (e.g., USD).
    • Choose the amount of PYR you want to buy.
    • Confirm your order and wait for the transaction to complete.
  2. Store Your PYR:

    • You can store your PYR tokens in your exchange account or transfer them to a personal cryptocurrency wallet.
    • Consider using a wallet like Trust Wallet, which supports multiple assets and blockchains.

Remember to research the exchange, understand the fees and risks involved, and ensure you comply with any regional restrictions before buying PYR tokens.

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History of Vulcan Forged

Vulcan Forged (PYR) is a play-to-earn game that allows players to earn cryptocurrency by winning, selling, and upgrading their in-game assets. The game is powered by its native utility token, PYR, which is a cross-chain ERC-20 token that operates on both the Ethereum and Polygon mainnets. PYR is used for various purposes, including fees for marketplace settlement, upgrading and sustaining game asset levels, buying and selling NFTs, earning play-to-earn benefits, and staking.

The Vulcan Forged ecosystem was designed to be a community-based blockchain gaming hub, supporting the development of world-class blockchain games through its development programs, incubation, and crowdfunding. The platform has over 10 NFT and gaming projects, including VulcanVerse and Berserk, and offers a huge NFT marketplace for buying and selling digital assets.

The PYR token was created with a total supply of 50 million, of which 20 million are in circulation. Another 10 million will be used for play-to-earn pools, staking, and other purposes. PYR is available for trading on several exchanges, including Uniswap, Quickswap, Kucoin, Gate.io, Binance, and Bittrex.

The game's reward system revolves around staking and improving land by spending PYR and LAVA, the secondary token of the Vulcan Forged ecosystem. Players can earn LAVA by staking PYR and playing Vulcan Forged games. LAVA can be used as an in-game currency for land building and NFT upgrades.

Vulcan Forged aims to provide engaging and entertaining games while revolutionizing the blockchain gaming space. The platform offers a variety of games and activities, including VulcanVerse, where players can earn LAVA based on their XP (experience points) earned through in-game actions.

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How Vulcan Forged works

Vulcan Forged is a blockchain game studio and NFT marketplace that offers a comprehensive ecosystem for gaming and digital assets. The project is built around two primary tokens: PYR and LAVA. Here's an overview of how it works:

PYR Token

PYR is the native utility token of Vulcan Forged. It is a cross-chain ERC-20 token that powers various aspects of the ecosystem, including:

  1. Marketplace Settlement Fees: PYR is used to pay for fees associated with buying and selling assets on the Vulcan Forged marketplace.
  2. Staking: Users can stake PYR tokens to earn passive income and support the project.
  3. Upgrading In-Game Assets: PYR is used to upgrade and sustain game asset levels.
  4. NFT Marketplace: PYR is used to buy and sell NFTs on the Vulcan Forged marketplace.
  5. Play-to-Earn (P2E) Benefits: PYR is used to earn rewards through gameplay.
  6. Access to dApp Incubator: PYR provides access to the Vulcan Forged game developers and the dApp incubation program.
LAVA Token

LAVA is the secondary token of the Vulcan Forged ecosystem. It is earned by staking PYR and playing Vulcan Forged games. LAVA can be used as an in-game currency for land building and NFT upgrades.

VulcanVerse

VulcanVerse is one of the first major products of Vulcan Forged. It is a Greco-Roman fantasy metaverse made up of 10,000 plots of land. Players can earn LAVA tokens by playing the game and staking PYR.

Other Services
  1. Anvil: A crypto-less and gas-free NFT engine for easy dApp and game onboarding.
  2. Vulcan Market: A gas-free NFT marketplace for Vulcan Forged games.
  3. Berserk: An NFT online trading card game (TCG).
  4. Frenzy: A create-your-own tournament platform that uses PYR as its reward token.
Ecosystem

Vulcan Forged has a strong and growing community of over 20,000 members. The ecosystem is powered by Elysium, a carbon-neutral Layer-1 blockchain, and includes MetaScapes, an upcoming Metaverse-as-a-Service project. The project offers a range of web3 games, ensuring non-stop fun for everyone.

Tokenomics

50 million PYR tokens have been created, with 20 million in maximum circulation. Another 10 million will be used for play-to-earn pools, staking, and more. PYR is available on both the Ethereum and Polygon mainnets, with most features utilizing the Polygon version to reduce transaction fees.

Overall, Vulcan Forged offers a comprehensive ecosystem for gaming and digital assets, with multiple ways to earn funds, numerous use cases for its primary PYR token, and a strong and growing community.

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Vulcan Forged's strengths

Vulcan Forged (PYR) has several strengths that contribute to its potential and appeal:

  1. Diverse Use Cases: PYR has multiple utilities within the Vulcan Forged ecosystem, including buying and selling in the marketplace, staking in land, Titans, or Olympians, staking and farming on Vulcandex, holding to become a dApp in the marketplace, earning it by playing, and staking it in VulcanDex.

  2. Low Transaction Fees: By utilizing the Polygon network, a layer-2 scaling solution, Vulcan Forged has significantly reduced transaction fees, making it more practical for users.

  3. Play-to-Earn (P2E) Model: The platform allows players to earn rewards in the form of PYR and LAVA tokens by participating in various in-game activities, such as leveling up land, staking, and completing tasks.

  1. Staking and Passive Income: Users can engage in staking, which provides a passive income stream by locking up a portion of their cryptocurrencies and supporting the project.

  2. NFT Marketplace and Trading: Vulcan Forged offers a gas-free NFT marketplace where users can buy, sell, and trade NFTs, including in-game items and virtual real estate.

  3. Developer Tools and dApp Incubator: The platform provides tools for game developers to create and deploy blockchain-based games, fostering a diverse ecosystem of games and dApps.

  1. Community Engagement: Vulcan Forged has a strong community presence, with active forums and social media channels, ensuring that users can stay updated and engage with the project.

These strengths collectively contribute to Vulcan Forged's potential to revolutionize the play-to-earn concept in gaming and provide a comprehensive ecosystem for users.

Vulcan Forged's risks

Vulcan Forged (PYR) is associated with several risks, including:

  • Volatility Risk: The price of PYR can fluctuate significantly due to market conditions, making it a high-risk investment.
  • Liquidity Risk: There may not be enough buyers or sellers to facilitate quick and efficient transactions, leading to potential losses.
  • Short History Risk: PYR has a relatively short history, making it difficult to predict its long-term performance.
  • Demand Risk: The success of PYR is dependent on its adoption by users, which may not be guaranteed.
  • Forking Risk: Changes to the underlying blockchain technology can lead to forks, which can impact the value of PYR.
  • Code Defects: Errors or bugs in the code can compromise the security and functionality of the token.
  • Regulatory Risk: Changes in regulatory environments can negatively impact the use and value of PYR.
  • Electronic Trading Risk: Technical issues with trading platforms can lead to losses or difficulties in executing trades.
  • Cyber Security Risk: Hacking and other cyber attacks can compromise the security of PYR and result in losses.
  • Dependence on External Factors: The success of PYR is also dependent on the growth of the metaverse economy and the popularity of NFTs.
  • Competition: PYR faces competition from other blockchain gaming projects, which can impact its adoption and value.
  • Lack of Disclosure Obligations: The PYR community, core team, and Vulcan Foundation are not obligated to disclose material information to the public, which can make it difficult for investors to make informed decisions.
  • Legal and Regulatory Changes: Changes to applicable laws can negatively impact the use, transfer, exchange, or value of PYR.
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Did Vulcan Forged raise funds?

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Vulcan Forged’s team

  • Jamie Thomson: Game marketing, blockchain development, web development, team management, and system administration; currently working at VulcanForged in London.

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