VIS and PGX Pegaxy game coins price prediction and analysis
_ Episode 20 _
So what is Pegaxy? Is it a crypto game or a business opportunity?
Visually it might look like a game. The problem is there is no any skill involved. Winners are chosen randomly. That means even though every virtual winged horse does have certain stats like namely Speed, Strength, Lightning, Wind, Water and Fire and Metaverse Stadion also have its own properties - those does not influence who will win or lose. Yet. The promise is development will make this happen.
Until we have skill based racing, Pegaxy is more a business opportunity than a game.
In the beginning this was also great opportunity. You could invest and buy a Pega for $400 or $500 and have realistic expectation for 100% ROI in less than a month, as some fellow Read authors posted earlier.
However things change. VIS and PGX are main Pegaxy tokens (Polygon). VIS price reached its all time high at $0.2552 on February the 3rd. Ever since the price is dropping. And it is dropping at alarming speed. Lets look at this graph I've made.
After only a week from ATH price dropped to $0.18 that's 28% drop.
On Feb 17th price was $0.09 - whooping 50% drop.
Same drop rate continues until today and current VIS price is $0.0058. On average from ATH until today weekly price drop was 42.8% per week.
So we can make a projection for next two weeks based on this data. In two weeks (if nothing dramatical is happen) VIS price will be $0.0019.
Second Pegaxy game token PGX had smaller price drop, only 24.08% per week.
Following the same pattern PGX price on March 31st will be $0.08
Now what this means for players? If you are renting, for example, profit share of 10% and you have 250 VIS per day (which is already hard to win since there are 15 tracks per race now) you will get 10% of $1.45 and that is $0.14 per day. But in two weeks time when holding period ends and you have a chance to claim your VIS rewards that will be valued at $0.04 per day. So you will have to race 25 times a day for 4 cents! It seems to me Pegaxy has become a faucet not a game :)
The enormous price drop affects the game in many ways. Nobody will be willing to rent. Number of horses increases daily so the price will fall even further. Investor can't return their money. Even worse horses will become useless since nobody will race them. Imagine someone invested $5000 in 10 horses, no jockey on sight and he has to race all 10 of them to try to return some of the money. Guilds will also have a big problems.
Don't get me wrong. I like the game and the idea behind it and I want it success, but if something is not done right away like increasing race reward or introducing Pegadeath (not Megadeth) the game is doomed.
I hope I'm wrong about it.
Disclaimer: I'm not a financial advisor, I post only my own experience, so always do your own research on the subject before investing anything. Post may include affiliate links. Thanks for using them.