Pegaxy keeps trying to rebuild itself after months of criticism on a broken P2E model. The chief flaw with Pegaxy is that it retains some players and has a highly active guild system, but its main assets keep sinking to new lows.
One shift is an attempt to rely less on VIS and PGX race rewards and promote drop racing, competing for cosmetic items within the game and other consumables.
Pegaxy even recently revived its Fabled Tokens, an early game invention that offered exclusive rights for a referral program. Fabled Tokens plus VIS burns are meant to produce Crowned Pega starting in September.
At the same time, the VIS market price is down to $0.00004, while PGX lost another 50% of its value in a couple of weeks, down to $0.005. PGX has now slashed the race reward even for high-ranked Pega as the game is starting to become impossible to monetize.
The only advantage would be to spend VIS and receive consumables to have a speedier energy recovery. However, winning races still requires a fast selling of rewards, which further undermine the price.
Even with consumables and special Pega features, extracting value from the game has stalled and the players are there possibly only for fame. Calls have been made for Pegaxy to relaunch with a new game product.
Pegaxy Aims to Rebuild Player Incentives
Despite the overall slowdown, Pegaxy retains just under 4K players each day, while breeding activity continues. There are now a total of 1.1M Pega NFT, and rarity no longer fetches significant prices. Racing advantage is also limited by the PGX reward size.
There is also limited trading on Pegaxy PFP, which have 1.5ETH in total trades, and a price around 0.09 ETH. Profile pics are purely cosmetic and used as identifiers for higher-ranked Pega. They also do not give in-game advantage.
Yet Pegaxy players are still holding out, possibly waiting for more tweaks or tournament rewards, as well as other types of NFT to reinject value into the game.
