Vulcan Forged PYRPrice $ 0.556

Vulcan Forged is a large ecosystem and an NFT marketplace that utilizes the PYR token for its operation. PYR is used for buying the NFTs and is deeply integrated within the system. PYR was initially based on the Ethereum blockchain but has since migrated to Polygon. PYR is used for various purposes: paying fees for placement on the marketplace, rewarding, staking and things related to the in-game assets.

The Vulcan Forged is a platform that includes several blockchain games (VulcanVerse and Berserk being their most known ones), an exchange and, as was mentioned above, an NFT marketplace. Jamie Thomson is the CEO, and the company is headquartered in Athens, Greece. A team of dozens developers (with a few of them working in-house) is spread all over Europe: the list of countries include Greece, UK and Ukraine. The company cites its mission as being “committed to providing the best NFT Gaming experiences possible by offering engaging and entertaining games”, and “revolutionizing the blockchain gaming space".

The company also uses a secondary token, LAVA, which is mainly used for in-game transactions. LAVA is also offered as a reward to those who stake PYR and want to earn some in-game currency. 

What are PYR’s key features and how does it work?

PYR plays an important role in all aspects of the Vulcan Forged operation. It is actively used both in blockchain games provided by Vulcan Forged as well as in the operation of the company's NFT marketplace. The PYR token is an important part of everything related to Vulcan Forged and powers the entire ecosystem.

PYR is used for:

• Buying NFT and in-game assets;   

• Staking and liquidity mining (the rewards are paid in the platform’s secondary tokens, LAVA, that can be used for in-game interactions and transactions); 

•  Maintaining in-game assets and raising their levels if needed;

•  Paying placement fees and fees for renting the NFTs for those who have a scholarship rank;   

•  Access to NFT dApp incubation programs.

Where Can You Buy Vulcan Forged?

PYR tokens are available to buy on various platforms. The list includes Binance, Huobi Global, HitBTC, KuCoin, and Gate.io. They can be traded against stablecoins (USDT), cryptocurrencies like BTC, ETH and sometimes against FIAT.

Where Can You Store PYR?

PYR is supported by various wallets, with the official and recommended one being MyForge. Many wallets that support the Polygon blockchain are also compatible with the PYR token. Venly would be an example of such a cryptocurrency wallet.

PYR Transactions

Low transaction fees are listed as one of the reasons for migrating to Polygon mainnet from the Ethereum blockchain.

Liquidity Mining and Staking of PYR

PYR is not minable in the traditional sense of the word. Total supply is limited to 50 million tokens. However, PYR can be staked. It's an option in the VulcanVerse game. The rewards are usually paid in LAVA.

Historical events:

Vulcan Forged has been redeployed on Ethereum and Polygon. More information: https://twitter.com/VulcanForged/status/1474010140810653699?s=20