AMA Recap — Pegaxy Galaxy
The session of AMA ( Ask Me Anything ) with Pegaxy Galaxy was conducted on 12th October 2021 at 4:30 PM IST (11 AM UTC) and lasted for 1 hour.
ADMIN ROUND
I welcome you on behalf of Crypto players India team, hope you will enjoy today’s AMA session.
Very excited to have you with us.😊
Jonty|Host
Please tell us about yourself and the team working on Pegaxy Galaxy?
Corey Wilton
Hey guys, my name is Corey! I am the Co-Founder and CMO here at Pegaxy. I joined the team just after its inception in mid-March 2021. In short, our team has been building the Pegaxy ecosystem since March this year, and we are due to launch the platform/game first week of November.
Jonty|Host
What is Pegaxy Galaxy? Please provide a detailed introduction.
Corey Wilton
The initial idea was created by Ken and Steve (our CEO and CTO), and was planned to have a typical pay to enter the racing system, however after around 1 month we noticed that this model would not be borderless forever (gambling). We then decided that we would try to mould what has been seen in other horse racing games, traditional and blockchain, and adopt the Axie Infinity economic model into it. In short, Pegaxy is a horse racing game that has futuristic mech-horse styling. It adopts TRUE P2E economics and has one of the most streamline renting systems, removing all bottlenecks currently seen in the Axie renting model. It incorporates a dual token economy with a governance token and a utility token and is focused heavily on developing a mobile game that requires player skill over randomness.
Jonty|Host
What is the Tokenomics and Use case? And how will it be useful for the ecosystem?
Corey Wilton
$PGX is our governance token, similar to that of $AXS in Axie. The $VIS token is the native utility token, similar to that of $SLP. The $PGX token is capped at 1B supply, whereas the $VIS token is an uncapped utility token designed to reward the users long term. When it comes to making a P2E game properly, the reward token ($VIS/$SLP) also needs to have demand. It is a fact proven by the longevity of Axie Infinity (dual token economy) and the decline of Plants vs Undead (single token economy). Through smart, calculated and effective management of the game's economy, we plan to provide to some degree, a stable income for those playing the game. The $PGX IDO will be held on the 20th of October (this month) — with a lot of details about to be announced.
Jonty|Host
What is the most ambitious objective you have for your project? What is your project’s long-term goal?
Corey Wilton
Good question! I think the most ambitious part of our project would be our goal to impact countries with the opportunity of true play-to-earn. Similar to how Axie has affected the Philippines, we have partnered with guilds throughout the Philippines, Thailand, Indonesia, Brazil and Vietnam and are heavily focused on creating a real impact on the nations. Our long term goal is to change the landscape of free to play gaming. Allow players to truly work within the gaming space and be paid for their skillset. We want to assist the other games within this space to build a digital nation that is borderless and fun at the same time.
TWITTER ROUND
Something that caught my attention here is your CrownedPega, the rarest possible breed & the hardest to acquire. It says one way to evolve our Pega into Crowned Pega is we must possess 5 Fabled tokens. So the question is, how to obtain these tokens & how does the process work? And what are the benefits we could get for achieving Crowned Pega?
Corey Wilton
Fabled tokens are obtained through a referral system at the initial Founding Pega sale (Held tentatively between 25–30th October). The process is quite simple, refer 5 friends with your referral code and receive 5 Fabled tokens! Every referral is a +1 Fabled token, with a maximum supply of 4,000 Fabled tokens. Essentially, the person you refer must purchase 1 Pega for the referral to count. It is not considered a referral if they simply create an account. The benefits of owning a Crowned Pega are primarily owning one of the rarest possible Pega in the world (similar to that of a Mystic Axie), however, we will introduce even more benefits as the game develops. These could include staking opportunities, airdrops and more.
As I know PAGAXY team has raised $2.5M only in 2 weeks, will you tell us on what purpose these funds will be used and what were the key investors?
Corey Wilton
The funds are primarily allocated towards recruitment and staffing. The reason this is important is currently there is a hot market, meaning that wages (even in developing countries) for game developers and 3D Designers have increased. With that, providing competitive wages will allow us to also recruit talent to our project, easier. Secondly, the lead investors were Crypto,com, Kyber Network and Shima Capital 🙂
How will “Pegaxy” standout from the digital world and how your innovation will attract people to buy/invest considering people already invested a lot of their money in other NFTs such as axie, cryptoblades, etc? Also, are we going to expect a more exciting Play to Earn model?
Corey Wilton
I feel there is a very very big difference between NFT games and P2E games. Put simply, NFT games are games that have NFT’s in them and maybe a token (a good example is Plants vs Undead). However, a TRUE Play to Earn game would be something that is considered free to enter, that you can still earn from. The only game that has achieved this currently is Axie. Our competitive advantage is that our game perfectly adopted the economic system, and we are the second game to launch with this model.
Pegaxy offers users to buy or rent pega for the races. So,can a user lend a peg directly from another player, or is he bound to lend from a system marketplace?
And who decides the rent fee and time period? What are the benefits for the lender and tenant?
Corey Wilton
There are three rental methods, fixed fee renting (usually real-world renting), profit share renting, and then direct renting. Profit-sharing — this is the current model taking place within Axie infinity. However, we did change it up slightly by creating a public marketplace for renting. This means you do not need to go out and find people to take your NFT’s and use them. You simply place them up for rent in the free market with your profit share % (70/30 for example), and wait for someone to accept your offer. Once accepted, the escrow contract is initiated and the renter/scholar is able to instantly play the game and earn while the manager/owner earns passively, without any communication to the renter/scholar. This makes the process extremely easy for those not looking to build and manage a guild. Direct rental — this system is directly targeted at guilds. Our goal was to simplify their management systems and allow them to focus on growth. It is as simple as this: Owner has a Pega and chooses to rent it out > They select “Direct Rental” in their account > They create the rental terms, for example, 70% to the renter and 30% to the owner > They click complete and a link is generated > They send that link to their scholar in their guild > The scholar accepts and the escrow rental process of automated payouts and management is initiated. As you can see, we cover all bases when it comes to renting and both parties are extremely safe.
Is your platform suitable for Crypto beginners? ? Or does it only appeal to professional users?
Corey Wilton
We have an extremely big focus on non-crypto native players. Our goal is not to gamefi blockchain, but to hide blockchain within a game that people love to play. The game will be extremely non-crypto native friendly.
COMMUNITY ROUND
Ali Baba
Is your project only for english speaking countries or do you have any community for non english speaking users too
Corey Wilton
Sure! I’d recommend jumping into our discord discord.gg/pegaxy and join the conversation in there! 🙂
Big BisnissBird
What is the biggest challenge you face currently in terms of becoming a successful project?
Corey Wilton
Finding enough talent! We have 30 staff right now with 14 on the development team alone, however, the game is very demanding and we need more talent
লুচ্চীর জামাই রায়হান ভাই
How important is the COMMUNITY to you? and how can we collaborate or help you for the development of the project?
Corey Wilton
Community is everything for us, we host our ecosystem of family members in discord! 🙂
pic pic
Do you have user manual or short videos that would guide potential users of project to safely navigate your platform?
Corey Wilton
A very large amount of video tutorials will be made in multiple languages! 🙂
Garena
What is the meaning of the name of the project and why did you name it that way?
Corey Wilton
Pegaxy means Pegasus Galaxy. Its name relates to the story of the projext. It’s background can be found in our whitepaper here whitepaper.pegaxy.io
Super Kiler
Every project needs a special feature that will attract customers. Can you tell us about your competitive strategies? if there is many crypto projects why should users look up for Your project?
Corey Wilton
We believe that this will happen naturally and organically through the economic model within our game. 🙂
The AMA recorded many great questions from the Crypto Players India community, as well as meticulous answers from our guest Corey Wilton from Pegaxy Galaxy. AMA Concluded at 5:30 pm IST.
