In this Pegaxy review, we’ll discuss a blockchain-based play-to-earn horse racing game built on Polygon Network. The game features a player versus player (PvP) style of play where players earn the game’s utility token (VIX) if they finish top 3 at the end of each race.
Before I proceed with my Pegaxy review, let’s take a look at the 3 individuals who founded the game:
- Ken Pham (CEO): A business consultant and blockchain technologist.
- Steve Nguyen (CTO): A professional engineer with broad experience building gaming platforms and mobile apps. He was also the founder of a Vietnam-based game publisher called Gamota.
- Corey Wilton (CMO): In charge of the game’s planning, development, advertising, and marketing initiatives.
The Pegaxy team has expanded to over 50 members, demonstrating remarkable strength and depth to continue the game’s rollout.
Horse Racing on Pegaxy has randomized primary variables, including water, wind, fire, speed, skill, and more. Players must use the variables strategically to win races and earn rewards in the game.
By the way, there are other horse-racing games in the crypto gaming industry – check out our Zed Run review!
Players on Pegaxy can breed, rent, sell, and race their Pega (horses) to earn the game’s utility token, VIX (Vigorous).
The gameplay system on Pegaxy has proven invaluable for long-term economy-building for NFT/Blockchain-based games. The Pegaxy team has built guilds, facilitated scholarship programs, and also allowed individual players to earn passive income by playing the game.
Since its release, Pegaxy has been one of the most popular games on Polygon, bringing in more than $200,000,000 in its first 5 months.
So now that we have the intro out of the way, let’s dive deeper into the game!
Graphics & Design
The Graphics and Design in Pegaxy are beautiful and vivid, giving it a nice look and feel. The colors are also bright and vibrant, which makes it easy to see the game’s user interface.
The in-game NFTs, i.e., the Pega (Horses), also appear very neat with cool colors and patterns. However, it may not be easy at times to differentiate them. Players might not even recognize a Pega they’ve raced against when they look at them.
The game was originally released in 2D. It was later transitioned to 3D after testing was completed. The team is also working on expanding this 3D feature to make it compatible with low-end android devices.
Given that the game was just launched the previous year, the graphics and design of Pegaxy are pretty decent. Undoubtedly, in the future, there will be more innovative improvements.
On Graphics and Design, I award the game 6/10.
Gameplay
To participate in a race, Pegaxy requires a player to have at least one Pega. You must attempt to put your Pega in a race that matches its elemental variables, which will increase your chances of winning.
Initially, it was free to participate in races on Pegaxy. However, since September 17, 2022, races on Pegaxy now require a set amount of VIS tokens as an entry fee. This fee varies, depending on your Pega’s breed.
Once you’ve logged into the game, select “Race” and choose between the two modes of racing: Drop Racing or Standard VIS Racing.
Then, select the lobby element best suited for your Pega and click “Ready.” You would be immediately prompted to a lobby track with variables, including race distance, track conditions, etc. But you can’t know until you’re about to race, and at this point, you cannot go back.
On Pegaxy, your Pega will be competing against 11 other Pegas. You can track your Pega using the on-screen arrow or its position on the left side of the screen.
Races on Pegaxy are Auto-racers, and the results of races are determined primarily by Random Number Generator (RNG). However, your Pega’s breed and track statistics can slightly influence the results.
On Pegaxy, the goal of racing is to place in the top 3 and get rewarded with Vigorous (VIS).
Currently, the 1st place will give you 105 VIS, which is about $0.006, the 2nd place will get 44 VIS, about $0.003, and the 3rd place will get 26 VIS, approximately $0.0016.
After each race, you can play and share the replay of the race or select the next race to continue. The winners (I.e., the first, second, and third-placed players) and their rewards are visible to every player.
A Pega can race 25 times a day (Maximum). So, the more Pega you have, the more races you can take and the higher your chances of making money.
Although the race on Pegaxy is an auto-racer, the team is working hard to add features that will enable players to influence their race. The game will later migrate from an auto-racer to a traditional/manual skilled-based game.
This will give skilled players better chances of top-three placement, as those players better understand the game mechanics.
According to the game’s developer, the future developments on Pegaxy will Include:
- Addition of attack and defense tools (to be determined by the games community).
- Reduced RNG model and increased dependency on player’s skill.
- A switch from auto racer to player control racing.
Apart from the daily competition, the game’s ecosystem also rewards the best racers by organizing a competition known as The Grand Dash Tournament.
This tournament holds its qualification rounds each month, and the grand finale usually takes place every December.
The winner(s) at the end of the tournament are rewarded with a large governance token from the game’s community treasury.
Pegaxy has interesting gameplay, and with the intended transition from an auto racer to a skilled-based style of play, I believe the game has a lot in stock for players.
In my opinion, it’s a well-deserved 8 out of 10 for gameplay.
Story
Pegaxy was coined from two words: Pegasus and Galaxy. The game has a futuristic mystical styling, and the Pega (horses) are descendants of the famous creature in Greek mythology called Pegasus.
The game is a PVP auto racer in which players win rewards: the game’s utility token VIS (Vigorous) and the governance token PGX (Pegasus stone).
In the game, Pegas are categorized into different bloodlines and rarities, each having different characteristics and attributes.
Rare Pegas are more expensive to acquire; they are more good-looking when compared to the common ones.
Although rare Pegas also have higher value when collected as NFTs. However, in the actual racing in the game, rare Pegas do not necessarily increase the chances of winning.
Apart from its value, the advantages of rare Pegas over the common ones are:
- They can be bred more times than normal Pegas.
- They can participate in more races than other Pegas.
- The newly bred Pegas of the rare Pega can participate in races faster than common Pegas.
On Pegaxy, there are 4 different bloodlines that players can acquire and race with; these are Hoz (Rarest), Campona (Rare), Klin (Less common), and Zan (Most common).
- Hoz: This is the rarest bloodline in Pegaxy. They are the elite of the Pegas, and their mystical power is lightning. This bloodline is powerful, performs well on track, and is very rewarding to its owners.
- Campona: Also known as god, this bloodline is fast and naturally adapts to unfavorable conditions. They are made from fire.
- Klin: They are the masters of water and are suited for racing in rainy or wet weather.
- Zan: Zan bloodlines are known for their stability and focus, especially during strong winds that can easily destabilize other bloodlines. For races in windy conditions, the Zan bloodline is the suitable Pega.
Breeding
As in most Crypto games, Pegas are collectible NFTs. And depending on their rarity, players can breed Pegas a certain number of times. A male and female Pegas are needed for breeding. You can sell or rent out your horse breed on Pegaxy.
There are five breeds types on Pegaxy. They are: Founding (5,000 of them are minted initially and cannot be bred again), Legendary, Epic, Rare, and Pacer.
Players can breed up to seven generations of Pegas at most, and the probability of your breeds being male or female is random.
Furthermore, Pegas must cool off after breeding to reproduce again. Additionally, newborn Pegas must wait and cool off for some time before competing. Every bloodline has different cool-down periods.
Renting
The game supports a rental service where players can rent their Pegas to other players. The owner of the Pegas is called Manager, while the player renting the horse is named Scholar.
Their arrangement is based on the types of rental agreements they sign. There are 3 types of rental services on Pegaxy: Fixed Renting, Profit Share, and Direct Rental.
Marketplace
Pegaxy has its native marketplace where buying and selling NFTs (Pegas), Food, Gear, and Stadium takes place.
There are two selling methods on the Pegaxy marketplace: the Buy now and Auction method.
Buying on the Pegaxy marketplace requires players to have the particular cryptocurrency the seller demands, which can be USDT, USDC, or Pegaxy’s governance token, PGX.
As highlighted above, it’s clear that Pegaxy has a fantastic game story. Although similar to other blockchain-based games, the distinct nature/concept of the Pegaxy story is easily noticeable. On the game story, this game is a 9 out of 10.
Music
Although the in-game music and sound on Pegaxy are decent and above average, there have been many complaints about the game’s music. The game’s audio is terrible, and most times, during gameplay, the game only produces occasional bleeps (High-pitched sound).
As a horse racing game, I believe there should be some galloping hooves and cheering crowds incorporated into the game’s sound.
On music, I think the game is just 4 out of 10 in rating.
Pegaxy Review: Tokenomics
The Pegaxy ecosystem is built on the Polygon Layer 2 networks and has a dual token economic model like other blockchain-based games.
The two tokens in the game are: The governance token of the ecosystem, The Pegaxy Stone (PGX), and the utility token, the Vigorus (VIX).
The governance token PGX gives the holders the right to vote on ideas and evolutions in the development of the game’s ecosystem. Holders can also stake the PGX in the treasury and earn rewards.
The Pegaxy token is also used to purchase Pega on the game’s marketplace, earn as tournament rewards, used in breeding Pegas, and can be traded on exchange platforms like Digifinex.
PGX has a total supply of 1 billion tokens, with about 138 million currently in circulation and over 51,000 wallet addresses.
The fully Diluted Valuation of PGX is over $6 million, and its current market capitalization is around $870,000. It reached an all-time high of $1.05 on February 1, 2022, and an all-time low of $0.004 on September 11, 2022. PGX is currently trading at $0.006.
The PGX token allocation is as follows:
| Initial Exchange Offering | 20,000,000 |
| Private Sale (Series 1) | 100,000,000 |
| Private Sale (Series 2) | 100,000,000 |
| Community | 160,000,000 |
| Team | 220,000,000 |
| Ecosystem Reserve and Marketing | 300,000,000 |
| Liquidity Provision | 100,000,000 |
Vigorus (VIX) is the game’s utility token. It is used for all of Pegaxy’s key earning and spending activities.
In contrast to other blockchain game utility tokens, VIX is minted only whenever a race takes place and is awarded to the top 3 players in the race. According to the game’s developers, VIS is never pre-mined.
The Pegaxy team has established a balanced mint-to-burn ratio that enables the VIX economics to be equitable and fair.
The amount of VIS tokens accessible on Pegaxy is completely based on the players’ actions and racing experiences. Therefore, the only way to earn VIX is to finish in the top three of a race.
Asides from the 2 tokens mentioned above (PGX and VIX), another token in this game is the Pegaxy Fabled Tokens. The Pegaxy Fabled Tokens are special ERC-20 tokens that can transform a Pega into a Crowned Pega.
I believe Pegaxy has one of the best tokenomics we’ve ever seen in crypto games. I give the game’s tokenomics an 8 out of 10.
Community
Similar to other crypto games, the Pegaxy team actively engages their community (Via social media channels and other online media) to inform them about various in-game developments and news
There’s also a dedicated community website for Pegaxy, where players and managers can find various resources to help them understand different aspects of the game.
It’s safe to say that Pegaxy has done very well on its community advancements, and it’s a 7 out of 10 for me in this criteria.
Earning Ability
The Pegaxy ecosystem offers various earning opportunities.
Players can earn daily VIS tokens by participating in horse racing or partnering (If you own a Pega) with a Scholar and sharing the earning proceeds as agreed.
Players can also create earning plans centered on breeding. This is done by breeding Pegas and selling them as NFTs in exchange for USDT or PGX on the game’s marketplace.
In summary, you can earn by racing, breeding, renting, or becoming a Scholar on Pegaxy.
As said above, there are about 4 ways of earning on Pegaxy, which makes it suitable for players that want to earn passive income by playing games. On earnings, Pegaxy is 8 out of 10.
Frequently Asked Questions
Is Pegaxy free to play?
No, it’s not free to play, but play to earn.
How do I earn on Pegaxy?
You can earn by racing, breeding, and renting your horse, and you can also earn by becoming a Pegaxy Scholar.
How many times can I race my Pega a day?
You can race a Pega for a maximum time of 25 per day.
What cryptocurrency can I use to buy Pega?
USDT, USDC, or PGX.
What do I need to playing Pegaxy?
You will need to own at least one Pega and a certain amount of VIS.
Conclusion
For anyone wishing to dabble in the play-to-earn gaming industry, I believe Pegaxy offers a fundamental approach to getting started.
Also, with the upcoming features intended to be incorporated into the game, the game will become strategic and skill-based.
Although there have been concerns that the game is not different from gambling and that players’ chances of winning depend solely on luck, I believe this issue will be addressed in the upcoming game updates.
Another issue is that the game’s economic mechanism has not yet been tested on a sizable user population. As of February 2022, there were only about 11,000 daily active players.
However, there’s no doubt that users are making passive revenue through the game. If the developers can maintain the reliable economic system, they’ve established so far, I believe that Pegaxy has much potential for growth and development.
Jason Oeynhausen
Crypto OG, entrepreneur, zen-seeker, good vibes advocate. The best investment you can make is your own education.
