Vulcan Forged runs a broad ecosystem and an NFT marketplace where the PYR token is used to power daily operations. PYR is required to purchase NFTs and is tightly built into the platform. It originally launched on the Ethereum blockchain, but has since moved to Polygon. Within the system, PYR is applied in multiple ways, including covering marketplace fees for listing, supporting rewards, staking, and other activities connected to in-game assets.

Vulcan Forged is a platform featuring several blockchain games-VulcanVerse and Berserk are among the best-known-along with an exchange and, as noted above, an NFT marketplace. Jamie Thomson serves as CEO, and the company is based in Athens, Greece. The team consists of dozens of developers (including some working in-house) distributed across Europe, with locations that include Greece, UK and Ukraine. The company describes its mission as “committed to providing the best NFT Gaming experiences possible by offering engaging and entertaining games”, and “revolutionizing the blockchain gaming space”.

In addition, the ecosystem includes a secondary token, LAVA, which is primarily used for in-game transactions. LAVA is also provided as a reward to users who stake PYR, allowing them to earn some in-game currency. 

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

PYR is a key component across the entire Vulcan Forged setup. It’s used not only inside the blockchain games offered by Vulcan Forged, but also throughout the operation of the company’s NFT marketplace. As a result, the PYR token is central to nearly every part of Vulcan Forged and effectively drives the ecosystem.

PYR is used for:

Where Can You Buy Vulcan Forged?

PYR tokens can be purchased on a number of exchanges. This includes Binance, Huobi Global, HitBTC, KuCoin, and Gate.io. Trading pairs may be available with stablecoins (USDT), major cryptocurrencies such as BTC and ETH, and at times against FIAT.

Where Can You Store PYR?

PYR is supported by multiple wallets, and the official/recommended option is MyForge. Wallets compatible with the Polygon blockchain are typically also compatible with the PYR token. Venly is one example of a cryptocurrency wallet in this category.

PYR Transactions

One reason given for shifting from Ethereum to Polygon mainnet is the availability of low transaction fees.

Liquidity Mining and Staking of PYR

PYR can’t be mined in the conventional sense. Its total supply is capped at 50 million tokens. Even so, PYR can be staked-this is offered as a feature within the VulcanVerse game. Rewards are generally paid out in LAVA.