Vulcan Forged (PYR): The expanding universe of web3 gaming and beyond
Vulcan Forged started out as a gaming hub targeting web3 users who could access play-to-earn (P2E) games on it that are powered by Ethereum and Polygon blockchains. However, over time, Vulcan Forged has evolved into an all-encompassing blockchain and web3 platform. It now offers Elysium (a Layer 1 blockchain), a metaverse, gaming and non-fungible token (NFT) projects, and Vulcan Studios for developing mobile and PC web3 games.
Let's explore the Vulcan Forged web3 ecosystem and learn why it's definitely a project to watch in the busy web3 space.
Key Takeaways:
Vulcan Forged is a comprehensive blockchain platform consisting of a Layer 1 (L1) blockchain (Elysium), a metaverse, NFT marketplaces and a gaming studio that caters to web3 gaming users.
It’s powered by two tokens — its primary token, PYR, and ELY (formerly LAVA).
PYR is available in Bybit’s Innovation Zone as a Perpetual contract with leverage of up to 12.5x.
What is Vulcan Forged?
Vulcan Forged, a blockchain-powered gaming ecosystem, offers comprehensive solutions to web3 users, suited to all gaming needs.
Founded in 2019 by a team led by current CEO and founder Jamie Thomson, Vulcan Forged started out as a gaming hub in which users could access NFT-powered web3 games. However, with Thomson at the helm, Vulcan Forged has transitioned into a full-fledged blockchain ecosystem that’s designed to solve the challenges faced by web3 users, such as high fees, slow transaction times and user-unfriendly gaming interfaces.
At the core of its comprehensive ecosystem is Elysium, a Layer 1 blockchain designed specifically to power gaming and the metaverse. By leveraging the Elysium blockchain, Vulcan Forged is better positioned to offer enhanced functionalities, such as dynamic NFTs, an advanced suite of tools and a more immersive gaming experience.
Vulcan Studios, part of the Vulcan Forged ecosystem, supports the development of blockchain games. Several enhancements to Vulcan Studios now provide for an interconnected universe for gamers, a critical move in the platform's bid to become a more unified gaming ecosystem.
Recent innovations to Vulcan Forged
Vulcan Forged NFT marketplaces like Agora and Cedalion offer users a seamless experience in trading and creating digital assets. In particular, Agora provides a user-friendly interface for minting NFTs without gas fees that makes it accessible for creators and collectors alike.
Furthermore, the Vulcan Forged team has announced that VulcanX, its centralized exchange (CEX), is almost complete. VulcanX will provide the platform's users with a gamified trading experience in which landholders In its ecosystem will share in generated revenue.
The entire Vulcan Forged ecosystem is governed by a dual-token economy consisting of PYR and ELY (previously LAVA) tokens.
What is Elysium?
Elysium is a next-generation Layer 1 blockchain developed by Vulcan Forged that’s designed to power the future of web3 gaming, NFTs and decentralized applications (DApps). Created with developers and users in mind, Elysium combines scalability, high throughput and a strong sustainability ethos to deliver a robust and eco-friendly blockchain ecosystem.
Built on a Polkadot substrate using the Ethereum virtual machine (EVM) framework, Elysium supports fast, low-cost transactions, and is fully compatible with both Ethereum-based and Substrate-based tools. Its interoperability makes it an ideal platform for developers looking to deploy DApps, launch NFT collections or create gaming projects with dynamic on-chain mechanics.
A standout aspect of Elysium is its growing ecosystem of integrated tools, such as:
Elysium Swap — A decentralized exchange (DEX) that allows users to trade tokens within the Elysium network effortlessly.
Elysium Bridge — This tool empowers users to seamlessly move assets across Elysium and Polygon while preserving decentralization and transparency.
Elysium Scan — A custom blockchain explorer that gives users complete visibility into transactions, token contracts and wallet activity on the Elysium network.
In addition to its robust technology, Elysium is central to the larger Vulcan Forged vision of a unified digital universe. It underpins diverse applications, including Vulcan’s NFT marketplaces, upcoming CEX and multi-game metaverse.
With an emphasis on accessibility, innovation and real-world use cases, Elysium is positioning itself as the core infrastructure for the mission Vulcan Forged has to merge gaming, blockchain and digital ownership into one immersive ecosystem.
How Elysium lowers barriers to entry
In order to lower barriers to entry through enhanced user experience, Elysium offers three protocols that work together seamlessly to benefit web3 individuals and businesses. These protocols simplify the process of converting tokens, while offering fee delegation and allowing users to utilize any token in their wallets when transacting.
These protocols are as follows:
GIFT — Introduces generalized native fee delegation, a feature that allows gas fees to be paid by anyone for anyone, encouraging new users to interact with DApps.
MAGMA — Facilitates the conversion of any token to PYR and LAVA (now ELY) on the Agora Marketplace.
SURGE — Allows users to pay gas fees with any token in their wallets.
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Source: vulcan-forged.gitbook.io
Vulcan Forged ecosystem
Vulcan Forged has created a comprehensive ecosystem to enhance web3 user experiences. Apart from the Elysium blockchain discussed above, other key components of the Vulcan Forged ecosystem are as follows.
Vulcan Studios
Vulcan Studios is a gaming development platform designed to facilitate the creation, development and playing of PC and mobile games. In the revamped Vulcan Forged road map, these studios’ DeFi games are undergoing various enhancements to improve user experience.
Some of the notable games produced by Vulcan Studios include Vulcan Verse, Vulcan Runner, Berserk, Vulcan’s Creed and Tower Defense.
MetaScapes
MetaScapes is an innovative metaverse-as-a-service (MaaS) platform that empowers users to create and customize their own digital realms. Offering four distinct worlds — Fantasy, Cartoon, Urban and Futuristic — MetaScapes provides a versatile environment for creativity and exploration. Its users can personalize their avatars, design unique landscapes and even monetize their creations through in-world economies.
With features like VR compatibility and AI assistance, MetaScapes aims to deliver an immersive and user-friendly experience, bridging the gap between imagination and digital reality.
Vulcan Forged tokens
The Vulcan Forged platform is powered by a dual token economy that consists of PYR and ELY tokens, each one playing a distinct role on the platform.
PYR
PYR is the primary token of Vulcan Forged. Initially, PYR was powered by the Ethereum and Polygon blockchains, but it’s now primarily powered by the Elysium blockchain. PYR plays three major roles on the platform: gaming, settlement and staking. It has a total supply of 50,000,000 tokens, with a circulating supply of 23,897,700 (as of May 15, 2025).
The primary use cases of the PYR token are as follows:
Power NFT marketplace transactions
Sow, stake and upgrade land
Stake on My Forge to generate ELY tokens
Farm NFTs and access IDOs on ElysiumSwap
Stake on Elysium to become a validator, and help secure the Elysium blockchain to earn block rewards
ELY (previously LAVA)
The second token on Vulcan Forged is ELY, which was formerly known as LAVA. ELY is Elysium's native and gas token. It also features many other uses, such as powering transactions and rewarding gameplay on Vulcan Forged games. You can earn ELY by participating in various games and accumulating XP points on the platform. Additionally, you can generate ELY tokens as rewards for holding PYR.
ELY’s total supply is 1 million tokens. Some uses of ELY include:
Purchasing in-game consumables
Acquiring and upgrading in-game assets
Unlocking gaming features across all Vulcan Forged games
Participating in tournaments
Where to buy Vulcan Forged (PYR)
You can buy PYR on Bybit as the PYRUSDT Perpetual contract, with leverage of up to 12.5x. It's listed in Bybit's Innovation Zone, which gives you access to handpicked projects with a potential for high returns (also with higher fees and risk).
Vulcan Forged (PYR) crypto price prediction
As of May 15, 2025, PYR is priced at $1.34, 97.3% higher than its all-time high of $49.24 on Dec 1, 2021 and 51.8% higher than its all-time low of $0.88 on Apr 7, 2025.
Price prediction experts are cautiously bullish on PYR's future price. CoinCodex predicts that PYR PYR may hit a maximum price of $1.49 in 2027 and increase to $4.43 in 2030. Meanwhile, DigitalCoinPrice is relatively more bullish on PYR, and expects that the token could reach a maximum price of $4.85 in 2027 and surge to $7.34 in 2030.
While these forecasts are bullish, they aren’t financial advice and they don’t guarantee the future price of PYR. We highly recommend that you do your own research before you invest in Vulcan Forged or any other cryptocurrencies.
Closing thoughts
Vulcan Forged (PYR) is shaping the expanding universe of web3 gaming by merging cutting-edge technology with immersive player experiences. From its native Elysium blockchain to dynamic NFT ecosystems and the upcoming VulcanX decentralized exchange, the platform is setting new standards in decentralization, creativity and scalability.
Featuring a unified road map, tools like MetaScapes, NFT marketplaces, and Elysium Swap, Bridge and Scan, Vulcan Forged is building more than games — it’s forging a sustainable digital economy. As its ecosystem grows, PYR, its cross-platform utility token, remains at the heart of this transformation, empowering game developers, creators and players in the next era of decentralized entertainment.
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