PYR is the native token of Vulcan Forged — a blockchain gaming studio that develops an interconnected metaverse of games (VulcanVerse, Berserk, Agora, and others) built primarily on Polygon — used for purchasing NFTs, in-game items, and land parcels, staking in the VulcanVerse ecosystem, and as the primary medium of exchange on Vulcan Forged’s NFT marketplace.
How It Works
- Ecosystem currency — PYR is the primary token used to buy and sell NFTs, land, and in-game items across Vulcan Forged’s games.
- LAVA token — LAVA is a secondary, inflationary in-game token earned through gameplay — analogous to SLP in Axie Infinity — that can be swapped for PYR or used for in-game purchases.
- Staking — PYR holders stake tokens in the VulcanVerse staking system (via “Vets” nodes) to earn LAVA rewards.
- MyForge wallet — Vulcan Forged developed a non-custodial wallet (MyForge) for users to manage PYR, LAVA, and NFTs without third-party exchanges.
- Volcano launchpad — PYR is used to participate in Vulcan Forged’s IDO launchpad (Volcano) for new game token launches.
Tokenomics
| Parameter | Value |
|---|---|
| Ticker | PYR |
| Max Supply | 50,000,000 |
| Secondary token | LAVA (inflationary, earned in-game) |
| Chain | Polygon (primary), Ethereum |
| Launch | February 2021 |
| Studio | Vulcan Forged (Greece-based) |
Use Cases
- NFT purchases — Buy land (plots in VulcanVerse), characters, and items using PYR.
- Game access — Some Vulcan Forged games require PYR or NFT holdings for access.
- Staking — Stake PYR to earn LAVA and other ecosystem rewards.
- Governance — PYR holders participate in community governance for the ecosystem.
- Launchpad — PYR holders get priority access to new project launches on Volcano.
History
- 2019–2020 — Vulcan Forged is founded in Greece. VulcanVerse (a mythology-themed metaverse land game) begins development.
- 2021-02 — PYR token launches. Vulcan Forged grows rapidly during the NFT and play-to-earn boom.
- 2021-12 — A major hack: Vulcan Forged’s MyForge wallet is compromised. Hackers steal approximately 4.5 million PYR tokens (worth approximately $140 million at the time). The Vulcan Forged team uses company treasury funds to reimburse all affected wallets within days — an unusual and widely praised response.
- 2022 — PYR price declines significantly alongside the broader NFT/gaming market downturn. Vulcan Forged continues developing additional games.
- 2023 — Vulcan Forged announces “Elysium,” a dedicated blockchain/L1 for the Vulcan Forged ecosystem to reduce dependency on Polygon fees.
- 2024 — Elysium blockchain continues development. Vulcan Forged expands game lineup beyond VulcanVerse.
Common Misconceptions
“PYR and LAVA are the same token.”
PYR is the primary, fixed-supply governance and marketplace token. LAVA is a separate, inflationary in-game reward token distinct from PYR.
“Vulcan Forged abandoned players after the hack.”
The opposite occurred. Vulcan Forged’s team reimbursed all stolen PYR using company treasury funds within days of the December 2021 hack, which was widely recognized as an extraordinary effort to protect users.
Social Media Sentiment
Vulcan Forged has a dedicated community, particularly around VulcanVerse’s mythology-themed lore. The team’s response to the 2021 hack earned lasting goodwill. The broader play-to-earn and NFT gaming downturn in 2022 reduced activity across the ecosystem, but PYR has maintained a core following among blockchain gaming enthusiasts.
Last updated: 2026-04