The world of blockchain has erupted, making its way into many industries and sectors. While buying, HODLing, earning dividends, and day trading are some of the more straightforward ways of earning crypto, mining, running crypto master nodes, staking, and accepting or getting paid in cryptocurrencies have certainly gained popularity.
But it doesn’t stop there.
Alternative ways to earn cryptocurrency is a fast-growing, ever-evolving world. Consider these methods: DeFi Yield Farming, Airdrops, Microtasks/Bounties, Faucet Farming, Bonus Gambling, and Gaming. Regardless of the manner, each has its own considerations, whether it be transaction fees, accessibility of or to crypto coins, investment in computer equipment, the dedication of your time, and performing small, repetitive, or mundane tasks.
But imagine living in a world of magic, fantasy, and adventure, where you can interact with others, acquire, build and create, track and be awarded for your progress, gain rank and levels, and have the opportunity to earn cryptocurrencies within this alternative universe.
Getting in on the Game
According to Facts & Factors research report, “the global Cryptocurrency Market was estimated at USD 792.53 Million in 2019 and is projected to reach USD 5,190.62 Million by 2026. The global Cryptocurrency Market is expected to grow at a compound annual growth rate (CAGR) of 30% from 2019 to 2026.” With such promise of growth, the gaming industry is eager to join the future of cryptocurrencies.
As each online game varies in its ways of earning crypto coins, we will focus on one, in particular, VulcanVerse. But first, let’s get acquainted with the game itself.
VulcanVerse Fantasy World
VulcanVerse is a massive multiplayer online role-playing game (MMORPG) where a large number of players globally are able to interact and assume the role of a character. It’s a virtual world built by the players for the players, where they can purchase land, design buildings, and forage materials. They can also compete in Vulcanite events, move up the seven “Tiers to the new Olympus” levels, and access higher-skilled Vulcanites and other tools and features. Or they can simply explore and build on the acquired lands.
There is an overarching story of lore and history for the VulcanVerse world and each of the 5 different arenas has its own narrative, development paths, and mythical creatures. All are connected by a common theme, the Vulcan Gods. This Vulcan universe provides a deeply immersive role-playing experience.
The native digital crypto token powering the VulcanVerse economy is PYR. Vulcan Forged carefully crafted this ERC20 token together with their blockchain partner Polygon. PYR allows users of the VulcanVerse game to earn from their positive efforts, boosting user engagement within this dynamic ecosystem.
One of the most lucrative Play-to-Earn possibilities is through staking PYR into various in-game assets. This process essentially soft-locks the tokens in order to enhance gameplay functionality & special privileges. The most common ways to stake PYR are leveling up Land (where each plot has 7 Levels), PYR staking programs to provide liquidity (when available), and harvesting seeds in return for special items from Vulcan’s Vault.
As a reward for these positive actions, users are entitled to receive PYR tokens from the Staking (Reward) pool.
LAVA is the life-blood of the entire ecosystem and is used for numerous purposes across VulcanVerse. Players are rewarded with LAVA by simply playing and engaging with any Vulcan Forged-made or hosted game.
LAVA can be separated into 2 pools, Hot and Cold, whereby cold is “passively” earned and hot is “actively” earned through in-game actions. Unlike the PYR token, LAVA holds no monetary value, is held off-chain, and cannot be traded. However, LAVA is required for maximum Play-to-Earn potential and to upgrade Avatars, Vulcanite stats, Land, Gods, enter tournaments, trade on Marketplace, qualify for giveaways and special events, and claim a share of the PYR monthly pool.
Calculating Shares of the LAVA (Play-to-Earn) Pool
Vulcan allocates 10% of the entire PYR supply into the LAVA (Play-to-earn) rewards pool, over a period of 24 months. As it stands, 10% of PYR supply (5,000,000 tokens) will be unlocked over a 24-month period.
Each month, users will receive xPYR where x is the % of PYR in the play-to-earn pool, relative to the user’s LAVA count earned versus the total amount of LAVA earned by all users. Only Hot LAVA earned is taken into account when calculating shares of PYR from LAVA earned. Rewards will be paid out monthly into the My Forge account.
Remember, with any investment opportunity, only invest money you are willing to lose.