[#342] Date: 6th May, 2022
Since the near-death of $VIS and $PGX, making it no longer viable to play Pegaxy, many people have been curious about my position on Pegaxy.
If you have been following my journey, you will know how much I have invested and where I went wrong with this investment. Obviously, if $VIS managed to maintain its attractive price, everything would be fine and dandy but it crashed multiple times, to trade at only $0.00059 at this time of writing, bouncing back from its all-time low of $0.00041 a couple of days ago.
In one of my previous articles, I mentioned how much I invested in the game. It was US$2000 on the pegas in the form of NFTs, and another US$1000 on $PGX and $VIS tokens. At this point, I have already written off my investment and consider the US$3000 burnt. This is indeed not a small sum of money. In my currency, it's more than MYR13K. For some people, this could mean a year's salary, but it is what it is.
This week, I spent time checking my investments and discovered that I actually made a tidy profit from the Cardano network that covers my US$3K loss in Pegaxy. Thank GOD for this and I consider myself extremely lucky to get out of a bad investment only losing my time and the $VIS farmed and reinvested. I have always said that I'll be happy to just be able to recover my fiat invested and I have. Nonetheless, I would be happier if Pegaxy turns around by itself, rather than having me cover the loss from another portfolio. I hope the day comes, yet, I am not holding my breath for it to happen.
I grew my Sure Win stables to nine pegas but fused a pair of low win rate Pacers to have a Rare, so I own eight now. I rented out a Pacer via the Pegaxy Marketplace at only 10% profit share to the scholar. This particular Pacer has a win rate of 16% or thereabout. I am convinced this is a bot, 'cos no sane scholar would be willing to race with such low profit - Pacer with its smallest prize pool, plus low win rate and meager profit share. I wake up daily expecting to see its energy at 25/25 but no, this scholar races it first thing in the morning and depletes all energy by the end of the day. Really hard to find, which is why even though I want to fuse this pega, I am reluctant to withdraw it from him.
Besides this pega, I am racing all the other pegas that I own, 7 of them, and 3 from scholarships under the umbrella of Chad's P3 Racing Guild. This makes my daily total pegas to race a whopping TEN. Obviously, for my personal pegas, I earn 100% of the $VIS, but for the rentals, or scholarships, I receive shares of varying percentages, depending on their class and win rate.
You'd probably wonder, is it still viable to play Pegaxy? The answer is a BIG FAT NO. Without the pressure to ROI on my investment, I can stop playing anytime, and just race the scholarships due to a sense of responsibility as a scholar, or return them to their respective managers if I were to quit altogether. However, I see no big deal racing the pegas, even though it consumes almost all my waking hours, but then again, I am stuck at home sitting out COVID-19. If not for Pegaxy and all the online activities that are keeping my mind occupied, what else can keep me entertained? I don't want to have to think about work, work and work every day. That would be so boring.
Therefore, while I am still at home and not traveling yet, while the game is still merely mindless clicking, while Pegaxy is still online and not rug pulled yet, I will be racing 'em pegas. Ten is a good number to race, maybe even eleven, barring server lags and crashes. Am I not tired? Am I not fed up? No. I still quite enjoy the game. As I said, I can relate to horseracing due to my background as a punter. It's only exasperating when the pegas do not return with golds, despite their high win rates.
What about your Pegaxy gameplay? Are you still racing? Have you given up your scholarship?