Vulcan Forged, the builder of the VulcanVerse and a growing selection of play to earn games, has completed its latest land sale. The Troy map extension turned new attention to the project, causing the price of PYR to spike briefly. Vulcan Forged has a busy roadmap ahead for the coming months, with the idea to introduce staking for metaverse land plots for additional passive income.
PYR briefly peaked above $14, before retreating toward $12. The asset is yet to regain its all-time high, but is getting established as one of the more liquid play to earn tokens.
Additionally, the VulcanVerse has already established the Elysium testnet, with the potential to launch a new blockchain specialized for play to earn.
Vulcan Forged Moves into DeFi with LAVA Token Bank
In the past few weeks, Vulcan Forged popularized its LAVA token, a reward for gameplay and a tool to pay for gas for decentralized games. Now, LAVA will also serve to supply a decentralized bank that will boost the value of Vulcan Forged.
The newly proposed decentralized metaverse bank will require the ownership of a specialized NFT and a LAVA deposit.
The bank works as a staking mechanism, but accessible from within a metaverse game. The asset that will be staked is the game’s reward token, known as cold LAVA. Cold LAVA means the asset works as an in-game token alone. But this token can also be turned into hot LAVA, or the actual Ethereum or Polygon token.
LAVA will be used as a means to pay gas fees on the upcoming Elysium main network after it launches. Currently, LAVA is yet to trade on exchanges and gain a market price, but its popularity as a reward within the games is growing.
New PYR Staking Opportunities with Nodes
LAVA tokens will also be generated with upcoming nodes. Nodes are a mechanism to lock up PYR tokens and receive passive income.
Nodes usually require a significant amount of locked tokens, potentially driving up the price of PYR.