Horse racing is a popular sport and pastime in many countries and has existed for many centuries. Thus the Greco-Roman antiquity was marked by the organization of many chariot races, but it was in England that the modern version of this game was born in the 11th century. But what do the metaverse and NFT do in this millennial game? In this article we will learn about the many projects around this game that have aroused the enthusiasm of the public, but also of investors.
NFT horse market, Maxima
The first project around horse racing was launched in October 2021 under the name Maxima. The project aims to create a market for racing horses that are tokenized and then divided into a limited number of NFTs. Therefore, the owner of a horse, through the NFT, can benefit from royalties if the horse performs or wins races. In a way, it seems like all the NFTs that hold a horse are its owner. It is therefore reasonable that they should receive part of the proceeds obtained.
The Horse Metaverse Project
Why is horse racing not happening now in the metaverse? No need to go to the racecourse to enjoy the show! This is the idea of Dan Nissanoff and Troy Levy, the two co-founders of Silks. Their ambition is to develop first Play-to-Earn equestrian metaverse where races take place. Thanks to NFTs, holders can own “virtual horses”, validated by the blockchain, that reflect the real horses competing in the racetracks. So Siks offers the possibility to play for real money with a lower risk factor and the possibility of hedging your investments. Even better, the project allows betting on real horse races. These bets go directly to the jackpots at the host racecourse. In fact, it helps to improve the game and especially pay the jockeys. the dirty public the project will take place at the end of the month, on April 27, giving the possibility to those interested to reserve a place in this metaverse.
Zed Run, NFT horse racing game
Finally, another NFT horse racing project is Zed Run. This NFT project, launched in January 2019, is one of the first to allow users to become solid owners who can buy, breed and race their own digital racehorses. So far, more than 50,000 people own “digital horses”, more than 1,100,000 races have taken place and more than $ 38 million has been distributed to players. Zed Run offers a wide variety of horses categorized by breed line, genotype, breed, sex as well as coat color, offering over 90,000 possible combinations. Horses with more unique traits are more valuable and more likely to win.
Are these digital horse races a form of video game?
At first glance, it is clear to associate these virtual horse races with video games. But there are related counterarguments. In fact, when playing a video game, the individual uses all his talents using his controller or his keyboard to win a victory. In the case of a digital horse race, the result is decided based on chance thanks to the blockchain, but this chance can be influenced by certain actions taken by the individual. In Zed Run, the game limits races to 12 participants. Depending on the race, the entry ticket can range from 2 to 50 dollars. The characteristics of the horses and the previous performance were considered to create a fair composition. Then the possibilities are fixed. Once the race has started, the program’s algorithm simulates 10,000 possible races, but selects one as the final result. Thus, we can observe a clear difference between this form of horse racing and video games. All of these projects do not claim to be video games despite the similarity.
Rapid growth of NFT projects in the world of sport
This trend of digitalization and tokenization in sport can be seen elsewhere than in horse racing. For example, we could mention the French unicorn Sorare in football, FanCraze in cricket, NBA Top Shot for basketball, or even Formula 1. Sorare is the real main project that connects sport and NFT with a cost almost 4.3 billion dollars. Sorare has built a fantasy football platform where players hold digitized players ’cards in the form of NFTs. Based on the actual performance of the players, individuals will enjoy weekly prizes. The company has already established more than 90 partnerships with football clubs. It has attracted more than 270,000 active players to its platform.
This rapprochement between the traditional game and the metaverse as well as the NFTs has changed our relationship with sports. These projects are still young. However, it cannot be denied that tokenization allows individuals to get to know their athletes better and have a more enhanced experience of supporting their favorite team. The metaverse will also change the practice of certain games or the way in which we attend a game activity. So we can imagine in the future to attend and enjoy a football game in the metaverse at home or even manage athletes by becoming their agent thanks to an NFT of the athlete in question. What a dream to probably manage the future Mbappé ! This revolution in sport practice will also change the way bet on these eventsthanks to the blockchain that guarantees fairness of bets and avoids cases of fraud.
Receive a digest of the news of the world of cryptocurrencies by subscribing to our new daily and weekly newsletter service so you don’t miss out on any important Cointribune!
Students are passionate about entrepreneurship and fascinated by the technologies behind cryptos! And yes, I am convinced that the two are closely intertwined: blockchain and NFTs are transforming many sectors and presenting unprecedented opportunities.