What is Vulcan Forged? There has been an explosion in the popularity of metaverse projects, especially after Facebook’s rebranding as Meta. As Cryptocoin.com, in this article, we will examine one of the metaverse-themed projects, Vulcan Forged (PYR). You can continue reading for answers to questions such as what is Vulcan Forged, how it works, how to buy PYR coin, what are its advantages and disadvantages.
What is Vulcan Forged?
Vulcan Forged is a project that serves as a blockchain game studio and NFT marketplace. The project has a metaverse game called VulcanVerse. Offering high quality graphics, the metaverse is like a combination of Minecraft and World of Warcraft, which are now cult games. The native cryptocurrency of the platform is the PYR token.
Home to more than 10 Dapp games, Vulcan Forged aims to develop successful games and integrate blockchain technology into these games in the best way. In addition, the project also includes the 5-volume NFT market, which is a first in its field. The NFT market has managed to be the second busiest platform in the VeChain network. This indicates that the project is growing in the NFT space. The platform exempts its users from transaction fees known as ‘gas fees’ for NFT and crypto transactions. The absence of transaction fees, which is seen as one of the biggest problems of Ethereum, in Vulcan Forged increases the adoption and popularity of the project.
What is PYR Coin?
PYR token is the native cryptocurrency of the Vulcan Forged project. Using PYR, users can purchase land, staking, purchase and upgrade in-game items, and access game developers and the NFT Dapp incubator on VulcanVerse. The platform’s executive token, PYR, is required in almost every transaction, whether on the NFT market or the metaverse.
What are the advantages of PYR?
- First, Vulcan Forged users can create decentralized applications (Dapps) inexpensively and quickly. This advantage makes it more popular with app developers.
- PYR token can be staked. The staking feature of crypto money allows investors to earn passive income.
- PYR token is the native cryptocurrency of the platform. Therefore, its usage area is quite wide. This may facilitate its adoption.
What are the disadvantages of PYR?
The concept has become quite popular with Facebook’s focus on the metaverse. This increase in the popularity of the field causes the emergence of new projects and increased competition. Vulcan Forged may get into a situation where it cannot compete with its competitors in the future.
The transaction volume of PYR, which is a relatively new project, may remain at low levels. Besides, the token has the high volatility inherent in cryptocurrencies. High volatility causes the asset’s value to fluctuate over a wider range, both in the bullish and bearish directions. Therefore, PYR can be seen as a risky investment.
What is Vulcan Forged? How to get PYR token?
To buy PYR tokens, you must first be a member of the exchanges where the cryptocurrency is listed. After you become a member of these crypto exchanges, you can verify your account and buy PYR.
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