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Vulcan Forged Adds NFT Lending to Play-to-Earn Economy

Posted by
Robert Hoogendoorn

Yield Guild Games first to step into new player economy model

Vulcan Forged has opened its ecosystem to a new player economy where NFT owners can start lending their assets to third-parties, who earn for their efforts in the game world. Yield Guild Games is the first organization joining the so-called Cedalion Program by offering scholarships to players using their 50 plots of land. 

The Cedalion Program is a new initiative for Vulcan Forged, introducing lending of NFT assets to the owners of those items. They will earn LAVA as passive income, while other players can earn LAVA from their in-game activities. This lending system applies to land in VulcanVerse, but also to for example Vulcanite NFTs in the trading card game Berserk. 

However, not every Cedalion apprentice will simply earn. They first need to make sure to earn 10.000 XP, in an effort to prevent abuse of the play-to-earn system. In addition, players and NFT owners will build up a reputation, which will positively influence the quality of the ecosystem. A landowner in VulcanVerse can hire multiple Cedelions, but the amount depends on the plot’s level. A level 5 land parcel can house 5 Cedelions. 

Vulcan Forged has many more plans for the coming three months. They will for example introduce PVE elements in the online game VulcanVerse, while launching a second season in Berserk and a debut season in Forge Arena. Together with the Cedalion Program, all play-to-earn mechanics for LAVA will be set in place. 

LAVA and the VulcanDex

Every gameplay mechanic in Vulcan Forged that allows players to earn XP, also involves LAVA. Players earn LAVA tokens simply by playing any game in the ecosystem. Players can earn LAVA by completing missions, but also by taking a screenshot or adding a friend. They can then use these tokens to upgrade land, purchase game items, enter tournaments, upgrade Vulcanite NFTs or activate NFT seeds. The LAVA token is basically the lifeblood of the ecosystem. 

Any ecosystem that’s driven by tokens, would blossom when players have the ability to trade. It’s therefore not without reason that Vulcan Forged has launched the VulcanDex, a decentralized token exchange platform for gaming tokens. Players can swap their LAVA for PYR, MATIC or ETH. Other gaming tokens, including YGG from Yield Guild Games, SAND from The Sandbox, and AXS from Axie Infinity, will soon find their way to VulcanDex as well. 

In addition, the platform will soon offer staking and farming opportunities. They will for example introduce a staking mechanic for NFT rewards. Users will be able to stake their LP tokens to farm exclusive NFTs for games in the Vulcan Forged ecosystem. 

Vulcan Forged getting traction

At the moment DappRadar tracks 5 dapps in the Vulcan Forged ecosystem, and each of them has seen significant user growth over the past 30 days. Especially the trading card game Berserk saw its number go up. Over the past month 3250 user wallets connected to the game, which is an increase of 771% compared with the month before. 

The introduction of LAVA and the VulcanDex will likely boost the on-chain activity within these dapps. In addition, the Cedalions Program will allow more gamers to get involved and have a stake in the ecosystem. Play-to-earn and digital ownership are strong concepts that push engagement and player activity to new heights.

We’ve already seen this with Axie Infinity and Splinterlands, where the launch of the SPS and AXS tokens boosted activity. As the Vulcan Forged ecosystem grows and more players gain access to NFTs in the ecosystem, activity will grow. Similar to the growth of the PYR token, this will likely influence demand for LAVA as well. 

The PYR governance token for Vulcan Forged has seen its value double over the past 30 days. Since late June the token increased in value from $1.16 to its current $9.03 price level. 

DappRadar: Research and swap PYR token

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