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Trader Says Ethereum Altcoin That’s Up 130% in Three Weeks ‘Looks Pretty Strong,’ Names Targets for Chainlink

Trader Says Ethereum Altcoin That’s Up 130% in Three Weeks ‘Looks Pretty Strong,’ Names Targets for Chainlink

A popular crypto analyst is remaining bullish on one red-hot altcoin that more than doubled in value within a few weeks. Pseudonymous trader Altcoin Sherpa tells his 197,900 followers on the social media platform X that the gaming studio and NFT (non-fungible token) marketplace platform Vulcan Forged (PYR) has more room to run. The trader […]

The post Trader Says Ethereum Altcoin That’s Up 130% in Three Weeks ‘Looks Pretty Strong,’ Names Targets for Chainlink appeared first on The Daily Hodl.

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Coinbase Announces Upcoming Support for Ethereum (ETH)-Based NFT Gaming Studio Altcoin

Coinbase Announces Upcoming Support for Ethereum (ETH)-Based NFT Gaming Studio Altcoin

The biggest crypto exchange in the US says it is adding the native token of the non-fungible token (NFT) gaming studio Vulcan Forged (PYR) to its list of supported digital coins. According to Coinbase, the platform is debuting trading of the Ethereum (ETH)-based altcoin on November 29th once liquidity conditions are met.  “Coinbase will add […]

The post Coinbase Announces Upcoming Support for Ethereum (ETH)-Based NFT Gaming Studio Altcoin appeared first on The Daily Hodl.

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Top Crypto Exchange Coinbase Adds NFT Game Studio Altcoin to Listing Roadmap

Top Crypto Exchange Coinbase Adds NFT Game Studio Altcoin to Listing Roadmap

Top US crypto exchange Coinbase is adding a non-fungible token (NFT) game studio altcoin to its listing roadmap. Coinbase customers could soon start trading the native token of Vulcan Forged (PYR), an NFT game studio, marketplace, and DApp (decentralized application) incubator. The project says it has more than 10 games, more than 20,000 members in […]

The post Top Crypto Exchange Coinbase Adds NFT Game Studio Altcoin to Listing Roadmap appeared first on The Daily Hodl.

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What is Vulcan Forged (PYR) and how to make money playing it?

Vulcan Forged is a play-to-earn game that allows players to earn cryptocurrency by winning, selling, and upgrading their in-game assets.

What is a play-to-earn crypto game?

Distributed technologies including blockchain and nonfungible tokens (NFTs) enable game developers and gamers a more interactive, immersive and incentivized experience than ever before through the new game model advertised by tech enthusiasts and named the play-to-earn (P2E) crypto games model.

P2E games, also known as blockchain-based or cryptocurrency games, gain significant attention from the gaming community and developers as they provide an opportunity to own data for in-game assets, fuel in-game economic systems and provide many other perks to facilitate the metaverse ecosystems.

Related: My Neighbor Alice: A beginner’s guide to the play-to-earn crypto game

With P2E games, players can own and trade various in-game inventory and objects such as characters, skins, weapons, virtual land and other digital accessories to achieve higher performance in the game as well as to receive financial rewards. Due to the P2E model, gamers are compensated for their skills, and developers and gaming projects have the potential to attract more players. P2E crypto games are a win-win phenomenon for emerging recently as a successful trend.

What is Vulcan Forged?

Designed as an easy-to-build and P2E ecosystem, Vulcan Forged incorporates a game studio dedicated to NFT games built on Ethereum, Polygon, and BNB Chain, as well as an NFT marketplace, launchpad, a decentralized exchange (DEX) called the VulcanDex, and a decentralized application (dApp) incubator that restlessly supports third-party game creators and procures NFT trading for its native Vulcan Forged ecosystem.

Related: Polygon blockchain explained: A beginner’s guide to MATIC

So far, the Vulcan Forged studio has created about a dozen video games, with each one allowing players to win, sell and upgrade their in-game items and NFTs to earn crypto. Among the series of games in the Vulcan Forged ecosystem, VulcanVerse is one of the most popular games.

VulcanVerse

VulcanVerse is the Vulcan Forged studio’s flagship product. It is a metaverse and a fantasy massively-multiplayer online role-playing game (MMORPG) backed by fighting-fantasy authors Jamie Thomson and Dave Morris, where users can explore, build, quest and earn crypto.

The game is based on Greek and Roman mythology. Land, Gods, Items and Vulcanites are the main assets to own in the VulcanVerse. Gods endow players with passive abilities that improve stats such as speed and attack. Other in-game items add utility as well, providing players with spells that temporarily activate different special powers.

Pet collectibles named Vulcanites also play a considerable role in VulcanVerse’s gameplay. They are companions that follow the player throughout the map and assist them in defense, battles, foraging and espionage. On top of that, players can use their Vulcanites in other games within the Vulcan Forged ecosystem. Vulcanites vary by stats, lore, and level and can be upgraded.

Moreover, VulcanVerse is a place where the Vulcan Forged community can purchase, exchange and construct land parcels as portions of the map in the form of NFTs. These land plots, each sized 20x20, can be bought on the game-native marketplace and start at Level 1. Players are able to move up the seven levels to reach a higher rank, unlock new features, gain better tools, obtain pet Vulcanites or even stake assets to earn passive income.

VulcanVerse gameplay is interesting even for an avid gamer, as it is entertaining and easy to play. Just follow the instructions.

What is the PYR token?

PYR is the native utility token of the Vulcan Forged community-based blockchain gaming ecosystem. It is a cross-chain ERC-20 token that powers the whole scope of dApps, which players can use across all studio’s games.

PYR can be used in the Vulcan Forged for various purposes including fees for marketplace settlement, upgrading and sustaining game asset levels, buying and selling NFTs on the Vulcan Forged marketplace, earning P2E benefits, launchpads for decentralized finance (DeFi) games and gaming pools. Also, users can stake Vulcan Forged (PYR) and other assets. Moreover, PYR provides access to Vulcan Forged game developers and the dApp incubation program.

PYR is available on both the Ethereum and Polygon mainnet. Although Vulcan Forged initially launched on Ethereum, most of the features offered by the project utilize the Polygon version. For instance, the NFT marketplace executes transactions denominated in PYR/Polygon (MATIC) exclusively. By porting PYR over to the Polygon network, which is a layer-2 scaling solution, the team has significantly reduced transaction fees. As a result, Vulcan Forged seamlessly executes high-speed transactions at a low cost.

As for Vulcan Forged tokenomics, 50 million PYR have been created. 20 million of them are in max circulation, and another 10 million will be used for play-to-earn pools, staking and more. For now, PYR is available at Uniswap, Quickswap and other platforms. Users can trade PYR on Kucoin, Gate.io, Binance and Bittrex exchanges.

The secondary token of the Vulcan Forged ecosystem is named LAVA. Players can earn it by staking PYR and playing Vulcan Forged games. LAVA can also be used as an in-game currency for land building and NFT upgrades.

How to earn money in Vulcan Forged?

Vulcan Forged is designed to reward users with tokens at every stage of the gameplay, significantly increasing their involvement in the game. Rewards can be received through a fight with another player or by befriending a user, through guest completion and map navigation, hunting for things and even by taking screenshots of one’s area.

Basically, Vulcan Forged P2E reward system revolves around staking and improving the land by spending PYR and LAVA. Staking Vulcan Forged tokens on various in-game assets is considered to be the most profitable P2E option. This method programmatically locks crypto to improve gameplay functionality and special rights.

To unlock staking functionality, players need to “SOW” their land, which comes down to paying a one-time fee that allows upgrading a piece of land to the next level. Once gamers upgrade their land to the second level, they can start staking their tokens. They can level up a plot of land only seven times, with each level corresponding to the amount of staking rewards that can be earned.

By upgrading a land to the seventh level, players maximize their PYR rewards. Users’ PYR tokens can be unstaked at any moment and restored to the land owner. Still, the seeding investment will be lost, and LAVA will be burned.

In addition, the LAVA Appreciation Program allows Vulcan Forged players to earn LAVA tokens by holding PYR. The program is divided into eight stages, each of which is awarded by LAVA based on the number of PYR tokens held. The only ones eligible for this program are users who have PYR in their Vulcan Forged marketplace wallets.

Other ways to staking PYR tokens include collecting seeds in exchange for special items from Vulcan’s Vault, offering liquidity using PYR staking programs and staking a pool.

What is the future of play-to-earn crypto games?

Highly popular among metaverse enthusiasts and gamers, Vulcan Forged is one of the major gaming ecosystems alongside video games and virtual worlds that gamers play for crypto token rewards such as Axie Infinity, Sandbox, Sorare, Illuvium and others that are notably contributing to the new digital economy. The numbers speak for themselves, as the P2E gaming market is growing at a fast pace, generating billions in revenue.

Furthermore, the renaming of Facebook to Meta, the acquisition of Activision Blizzard by Microsoft, the Ubisoft launch of the Quartz platform for playable and energy-efficient NFTs and other recent massive events in the industry indicate that the traditional IT and gaming industries are serious about the implementation of blockchain innovations into mainstream gaming.

Even if P2E does not completely overtake the traditional gaming industry, all these developments and the support from the community strongly suggest that the P2E crypto games are one of the major directions in the future of gaming.

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Vulcan Forged Platform Suffers Security Breach, 96 Wallets Compromised

Vulcan Forged Platform Suffers Security Breach, 96 Wallets CompromisedVulcan Forged, a gaming and NFT platform, suffered a security breach that allowed attackers to gain control of some cryptocurrency wallets of the service. The hackers got hold of 96 user wallets and managed to steal more than 4.5 million PYR, the native token of the project, among other assets. Vulcan is now dealing with […]

Kraken partners to help simplify tax reporting for U.K. clients

Gaming Studio Altcoin Built on Ethereum and Polygon Spikes After Binance Listing

Binance is announcing further support for gaming altcoins built on the Ethereum (ETH) and Polygon (MATIC) networks. In a Thanksgiving announcement, the crypto trading giant posted plans to open trading for Vulcan Forged PYR (PYR) today, November 26. Vulcan Forged is a non-fungible token (NFT) gaming studio built on the Polygon and Ethereum blockchains. PYR is the […]

The post Gaming Studio Altcoin Built on Ethereum and Polygon Spikes After Binance Listing appeared first on The Daily Hodl.

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NFT Gaming Pioneer Vulcan Forged Launches New DEX for Gaming Tokens

NFT Gaming Pioneer Vulcan Forged Launches New DEX for Gaming TokensPRESS RELEASE. Vulcan Forged has launched a new and revolutionary decentralized exchange for gaming tokens following the success of its gaming metaverse, VulcanVerse. Cardiff, United Kingdom – Blockchain gaming platform, Vulcan Forged, is announcing the launch of the first-ever decentralized exchange (DEX) purpose-built for gaming tokens, VulcanDEX. The DEX will allow users of the gaming […]

Kraken partners to help simplify tax reporting for U.K. clients

Vulcan Forged Launches NFTs Designed by the Godfather of Fantasy Art

Vulcan Forged Launches NFTs Designed by the Godfather of Fantasy ArtPRESS RELEASE. Vulcan Forged has secured IP rights to several artists’ work to bring fantasy-themed NFTs to the VulcanVerse. Cardiff, United Kingdom – Blockchain gaming platform Vulcan Forged has secured the intellectual property (IP) rights for works included in the Frank Frazetta Art collection. The team plans to use these rights to create and distribute […]

Kraken partners to help simplify tax reporting for U.K. clients