April 15, 2022
There are a lot of earning opportunities in the cryptoverse that you shouldn't miss. The birth of NFT DeFi Games opened the portal to metaverse and more opportunities. It is undeniable that people onboard get a chance to have fun while earning. Ever since the inception of DeFi games, they have always become the talk of the town and give opportunities not only to players but aspirant and experienced developers to launch their own NFT Games.
In just a short period, a plethora of DeFi NFT Games was launched in every corner of the metaverse. A crypto noob and small investor me yearned to play any NFT game for experience and to get rewards that would be added to my assets. Axie Infinity has been my first choice but due to lack of time, my decision to buy one has been halted. Besides, the token price started to decline at that time.
Here comes Pegaxy which was launched in the last quarter of the previous year. Given that it is only young and still has more room to grow, my excitement to dive into its sphere grow as well due to the influence of some club members showing their proof of earnings from this game.
January 20, 2022, to be exact, Volverine came into my life and I became a gamer at the age of 30s, lol.
The first week went smoothly and after just a couple of weeks, the initial investment has been recouped, especially when the token's price shoot to its ATH. Unfortunately, my greediness hindered me from selling my accumulated rewards as I thought the token's price would go higher.
From one to three Pegaxies when I applied as a scholar in one of the pega guilds and got two more pegaxies, one of which from PVM.
I thought in that way, I could accumulate more rewards and take my investment back.
The Fall Of VIS Price
Uncertainties started to fall when investors and players started to take their investments back and some developer's team members opted to pull their liquidity out. The Axie Infinity anxiety probably formed fear out of the game so some thought practically and did what they thought was right. Perhaps, they predicted what will happen to the game's token after reaching its ATH. And that was the start of Pegaxy's downfall, not in the game but in the token's price.
Looking at the data below you could tell how drastic the VIS fell in just a couple of weeks from the time I dived into this game. In just 12 days of playing, I earned 4448 VIS worth $951.87 at a $0.214 price per VIS. But after the turmoil, VIS price started to decline and dropped below 0.10 cents. And at the end of February, the VIS price played at around $0.02 per token which only gave me $265 for my 10K VIS.
However, instead of taking my investment back when the price was falling, I did nothing but watch it drop drastically. The most stupid act I ever did in my crypto journey.
Its development and updates gave me hope that its price would recover a little, even not the ATH. Who wants to sell at a very low price anyway? But it seemed like the game's updates just went South and only benefited those who were on top of the game, and placed small players at the bottom.
The Fall Of Pegaxies Win Rates
The marketplace went wild when the Pegaxies prices dropped to below $500 and many thought it was an opportunity to buy more pegaxies and so do I. Despite the drastic fall in VIS price, I opted to sell all my accumulated rewards at a very low price just so I could buy a no-breed pega.
From three pegaxies became four, then five after breeding with MJ, followed by @NosCha's. And returned PVM's pega to him as I felt like I had a lot on my plate, leaving 4 pegaxies in my stable.
Then I bred once again giving 4 own pegaxies and 1 pega from the guild in my stable. Two of which were rented out in the market as they have low win rates. Three of which were played by me.
Right after breeding, another update came out that made4 the game skill-based. Thus, pegaxies with higher stats would benefit from this new update. I know from there that my new pegaxies would have struggles in winning the game.
As expected, my pegaxies win rate fell just like how the VIS price dropped even lower. The game seemed to become worthless because even the good stats pegaxies got low win rates as well. The once 31% win rate became 22%, the once 24% win rate became $16%, and from 22% to 10% win rate. And the lowest win rate is only 6%! How disappointing it is!
But then I continued breeding with the hope that someday, I could take my investment back through having more pegaxies on race. From four own pegaxies to five.
The fall of Prize Pool
The excitement even became lesser after the recent update wherein prize pool vary depending on the pegaxy breed type. From the top, Founding and Legendary with 500 VIS prize pool, Epic with 225, and Rare with 100.
And Pacer got the lowest rewards at only 45 VIS.
From 175 VIS each game, it dropped to 45 VIS as total rewards for Pacers which will be shared by the three winners. The gold, silver, and bronze placers would get 27, 12, and 6 VIS rewards respectively. And the 27 VIS reward for the gold placer is only worth $0.133 at $0.0043 current price per token.
This memes, at least, lessen the stress we are feeling, lol.
Do you think it is still worth playing this game?
They are definitely killing the game! And only those founders with higher breed type pegaxies could benefit from these updates. The more updates they have, the more burdens they put on players' shoulders, and the more reasons why VIS would drop even lower sooner.
From excitement to disappointment. And if there's one thing I learned in this cryptoverse that is to "scrape off the losers." And I consider Pegaxy as one that needs to be obliterated from my list. Not unless the team will do something for VIS price to rise again.
As of now, three pegaxies are resting and one renting, while two are racing including the one from the guild. I would probably return the pega from the guild if permitted, rent out the rest, and would just focus more on other profitable projects.
As a small investor, I don't like wasting my money and time on projects that are not profitable. I already got losses in other projects and I guess, it's time to shift into another strategy to avoid falling into uncertainties again. Although it is inevitable in this cryptoverse just like how volatile the market is, one could mitigate the losses by choosing wisely the projects to invest in. Every coin counts here. So let's just act practically.
Pardon me for this rant. Are you a Pegaxy player? What are your thoughts about this?
And thanks for stopping by.
Follow me on:
This is why I stopped investing on p2e games. They are always end up in being rugged and low price. I was also stuck with “update = high price” but the outcome is the opposite of my expectations.
Btw, I like the ROI meme😆