Pegaxy (PGX) is a blockchain-based mech-horse racing game that is free-to-play. It allows users to create real-world value through in-game activity in the play-to-earn metaverse. The game has a dual token economy with the governance token PGX (Pegaxy Stone) and the utility token VIS (Vigorus). PGX enables holders to influence platform decisions and profit through stacking, while VIS serves as the main in-game currency. Players compete in player-versus-player (PvP) races with mythological creatures called Pega to earn monetary rewards. Pega can be bought, rented, sold, and bred on the platform. The beta release of Pegaxy on desktop took place on November 15th, 2021, with plans for a mobile beta release in late 2021. The official launch on iOS and Android is scheduled for the second quarter of 2022. The PGX initial DEX offering (IDO) was held on November 5th, 2021.

Pegaxy (PGX) was co-founded by Ken Pham, the CEO, who has a master's degree in International Business and expertise in business consulting and blockchain technology. Steve Nguyen, the co-founder and chief technical officer (CTO), is a professional engineer with experience in building gaming platforms and mobile apps. He is also currently a CTO of Appota Group, a company focused on technology solutions for the digital entertainment industry. Corey Wilton, the co-founder and chief marketing officer (CMO), is involved in planning, development, and execution of Pegaxy's marketing and advertising initiatives. He has practical knowledge in digital marketing, blockchain, and gaming.

Pegaxy (PGX) stands out by increasing the accessibility of play-to-earn games, allowing newcomers to join the metaverse without an initial investment. All races in Pegaxy are free to enter, and Pega can be rented on a profit-sharing model. The rental system is trustless and automated, with rental agreements creating escrow accounts that hold and distribute assets automatically based on predetermined conditions. This ensures transparency and safety in NFT renting. Pegaxy plans to transition from 2D to three-dimensional representation and introduce player-controlled gameplay. The game aims to be community-led and gradually decentralize control to PGX holders as it grows.

The total supply of PGX is 1 billion tokens. The allocation of the currency is as follows:

• Community developer incentives: 16% of the PGX supply
• Ecosystem reserve and marketing needs: 30%
• Team holdings: 22%
• Liquidity provisions: 10%
• First private sale distribution: 10%
• Second private sale allocation: 10%
• IDO/IEO: 2%

PGX (Pegaxy) is an ERC-20 standard token built on the Polygon/Matic network, which is a layer 2 solution on the Ethereum blockchain. The Polygon/Matic network provides cheaper gas fees and increased scalability for Ethereum transactions.

Pegaxy held a private sale in October 2021, raising $2.5 million from major investors including Crypto.com Capital, Kyber Ventures, and Shima Capital. The PGX initial DEX offering (IDO) took place on November 5th, 2021.

As of December 2021, PGX is trading at around $0.25. The token price started at $0.02 during the ICO and experienced significant growth upon the game's beta release, peaking at $0.9051. With the project's active growth and attention from investors, media sources, and fans, Pegaxy has the potential to further increase the value of its governance token. Factors such as the introduction of 3D gameplay, skill-based controls, and the official release of the Pegaxy metaverse could contribute to its growth.

PGX can be purchased on KyberDMM (Polygon) and QuickSwap in the PGX/USDT trading pair. If you are new to cryptocurrency, you can find more information on how to enter the market and buy Bitcoin (BTC), Pegaxy (PGX), or any other token on BYDFi's education portal — Alexandria.