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Vulcan Forged PYR price prediction: A resurgent gaming token

By Raphael Sanis

13:32, 6 October 2022

Vulcan Forged
Vulcan Forged is a blockchain gaming studio and NFT marketplace – Photo: Shutterstock

The blockchain game studio and non-fungible token (NFT) marketplace Vulcan forged pyr is making a comeback after struggling with this year’s bear market.

Its play-to-earn cryptocurrency PYR climbed by 25% in the seven days to October 6, which was matched by increasing social buzz.

As of 6 October, some forecasters, including CoinCodex and TechNewsLeader, were bullish over PYR's long-term capabilities.

What Is Vulcan Forged (PYR)?

Vulcan Forged has developed around a dozen games and has more than 20,000 community members. Its staple experience is the VulcanVerse, a metaverse drawing on Greek and Roman themes. There are 10,000 plots of land, which can be purchased, upgraded and traded.

The Vulcan Forged documentation said: “In VulcanVerse, create your own quests and adventures, forage for NFTs, and battle against other Vulcanites. The native token for VulcanVerse, $PYR, is used as a settlement, staking, and gaming token.”

Fittingly, the firm’s main office is located in Athens, Greece, but it is led by a CEO, Jamie Thomson, who is based in London.

The PYR token

The PYR token, based on Ethereum (ETH), was designed to have a range of utilities in the Vulcan Forged ecosystem. Investors can purchase and sell NFTs in its marketplace using PYR.

The ERC-20 token can also be earnt by playing Vulcan Forged’s numerous games. Other methods to earn yield include staking the token in land plots on the VulcanVerse.

While there are fees in-game, such as transacting on the marketplace, the gaming studio has used Polygon (MATIC) to reduce these costs.

PYR is part of a dual token system. Its sister token goes under the ticker LAVA and is primarily used for rewarding players. Anyone engaging with Vulcan Forged’s games will earn experience points, along with LAVA tokens.

PYR’s incentives are heavily based in a rewards pool. These pools are dedicated to those levelling up and staking their NFTs.

PYR’s price history

Vulcan Forged launched its cryptocurrency on 19 April 2021 at $1.97. Despite an immediate rally, it soon fell to an all-time low of $1.16 on 22 June that year.

PYR price chart, all-time performance

Source: CoinMarketCap

Its largest breakout to date started in that October, during the rise of metaverses and play-to-earn games in the wider market. Vulcan Forged hosted its own event towards the end of the month. Its price then rose from $14.07 to a high of $22.47 on 31 October.

DOGE/USD

0.10 Price
+1.210% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.0012872

ETH/USD

3,359.36 Price
+3.030% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 6.00

BTC/USD

60,569.90 Price
+6.380% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

UNI/USD

10.86 Price
+0.340% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.08964

PYR managed to sustain this momentum and hit its all-time high of $49.74 on 1 December. This came after a partnership with AAG Ventures.

It said in a Medium Post: “We can confirm AAG Ventures have purchased plots of VulcanVerse land and $PYR. The whole deal involves over 1 million USD of funding.”

However,  PYR soon crashed with the 2022 bear market. It did see a slight peak in April 2022, when a partnership with Binance allowed investors to directly purchase PYR with fiat currencies. However, by the beginning of July, the gaming token had plummeted below $3.

Vulcan forged was showing signs of recovery, as of 6 October. Lunar Crush recorded that its social activity was up by a staggering 1,210%, ranking it the highest out of all cryptos.

Meanwhile, PYR’s price was trading at $4.48, at the time of writing. It was up 25% on the previous seven days.

Vulcan Forged pyr price prediction

The gaming token’s recent rally has led to some optimistic PYR price predictions, at the time of writing.

As of 6 October, CoinCodex said there was neutral sentiment around the cryptocurrency with 19 bullish indicators and 10 signalling “sell”.

Its vulcan forged pyr price prediction for 2022 suggested it could have climbed by 20% to $5.37 on 5 November.

Longer-term vulcan forged pyr coin price predictions suggested it would have kept this upward momentum going over the coming years.

TechNewsLeader said it could have reached $8.55 in a year and $26.47 in five years’ time. Its vulcan forged pyr price prediction for 2030 anticipated a new all-time high of $116.84.

Similarly, Gov Capital’s PYR token price prediction foresaw new highs for the cryptocurrency. It suggested PYR could hit $19.88 in a year and $90.63 in five years’ time.

DigitalCoinPrice expected a more gradual rise with PYR said to average out at $4.69 this year. Its vulcan forged pyr price prediction for 2025 said the token could have reached $18.36, and it might achieve $62.65 in 2030.

When considering a vulcan forged pyr crypto price prediction, it is important to keep in mind that cryptocurrency markets remain extremely volatile, making it difficult to accurately predict what a coin or token’s price will be in a few hours, and even harder to give long-term estimates. As such, analysts and algorithm-based forecasters can and do get their predictions wrong.

If you are considering investing in cryptocurrency tokens, we recommend that you always do your own research. Look at the latest market trends, news, technical and fundamental analysis, and expert opinion before making any investment decision. Keep in mind that past performance is no guarantee of future returns. Never trade with money that you cannot afford to lose.

FAQs

Is Vulcan Forged PYR a good investment?

Vulcan Forged is a blockchain gaming studio, which is producing Greek and Roman-themed experiences. Its PYR token is utilised to finance and incentivise these experiences.

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the PYR token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Never put at risk more money than you can afford to lose.

Will Vulcan Forged PYR go up or down?

PYR’s recent rally has led to some hopeful forecasts, including TechNewsLeader, which predicted the token might eventually achieve a new high. But price predictions are often wrong.

In volatile cryptocurrency markets, it is important to do your own research on a coin or token to determine if it is a good fit for your investment portfolio. Whether the PYR token is a suitable investment for you depends on your risk tolerance and how much you intend to invest, among other factors. Keep in mind that past performance is no guarantee of future returns. Do not put at risk any money you cannot afford not to get back.

Should I invest in Vulcan Forged PYR?

Whether you should invest in PYR is a question that you will have to answer for yourself. Before you do so, however, you will need to conduct your own research and never invest more money than you can afford to lose because prices can go down as well as up

Markets in this article

ETH/USD
Ethereum / USD
3359.36 USD
98.55 +3.030%
MATIC/USD
MATIC/USD
1.07279 USD
0.01745 +1.690%

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