A highly popular emerging space is NFT horse racing. These metaverses are directly tied to real-world horse racing or simulate the horse racing economy through various gameplay styles.
Though still a very small niche, there are rising stars in the sector that are definitely worth considering investing in.
This article will cover the top 3 NFT horse racing projects to invest in.
Top 3 NFT Horse Racing Projects to Invest
silk – A web3 fantasy game set in the real world of horse racing.
deeres – A virtual horse racing NFT game that simulates the game
Pegaxi – A legendary version of simulated horse racing
A closer look at the top 3 NFT horse racing projects to invest in
silk
Silks is probably the most intriguing and detailed NFT horse racing project out there right now, as it is the world’s first derivative-based play-to-earn gaming metaverse.
You may have heard the term ‘derivatives’ in bitcoin futures trading, where a perpetual contract represents the underlying asset – bitcoin. In Silks, horse NFTs are derivatives directly tied to real-world pure horses.
The whole idea of ​​the game is to own the NFTs of the fastest real-world purebred horses. If your NFT horse wins a real-life race, you are rewarded in the Silks metaverse.
Silks is a virtual world where its players can experience the real thrill of owning a horse race. The project quickly gained popularity and in less than three months became the top #15 best-selling sports NFT of all time on the Ethereum blockchain. It was also added to the prestigious Nansen.ai Gaming 50 Index, the most respected NFT index.
As of now, Silks has 24,000 members
discord Server and over 14,000 followers on Twitter.
In Silks, you get to pick and choose the horses that you think have the best chances of winning the race, just like you would in real-world horse racing. In addition, if your NFT horse produces real-world offspring, you are rewarded in the Silks metaverse.
spotlight wireThe best part about the project is that the silks well reflect the horse racing industry which generates $11 billion annually in the US. The horse racing industry has always performed well in all market conditions, even during recessions. So far, 2022 has been a record-breaking year for horse sales and prize purses.
Considering how popular horse racing is, these Horse NFTs can get very expensive once they are released. It is estimated that annual, race horses that turn one year old have an average auction sale price of $60,000, and their owners spend up to $40,000 per year on maintenance. Since NFTs are derivatives of real horses, we can expect their value to increase dramatically as the project matures.
spotlight wire according to
silk white paperAbout 20,000 foals are born and registered in the United States each year after one year of age. The first Silks Horse NFT drop is expected to sell with the reveal later in a traditional Blind NFT sale. This will provide a perfectly level playing field as owners will not know which horse they will get until it is exposed.
Following the first Silks Horse NFT drop, Silks will continue to issue subsequent batches of NFTs in parallel with the real world registration of annual registrations in the US.
Horse NFTs are not the only NFTs offered by Silks. In fact, Silks has created a complete replica of the entire real world horse racing ecosystem which includes;
- silk avatar
- silks land parcel
- silk stables
spotlight wireThrough this ecosystem, members of silk can;
- speculation on the ground
- Develop the land into horse farms
- buy and trade horses
- Enter a horse-owned pool
Players must purchase a Silks avatar to earn in the Silks metaverse. It serves as their digital identity and allows them to explore, socialize, and participate in game-play-to-earn races.
spotlight wireSilks dropped the first batch of Genesis Avatar in April 2022 for 0.2 ETH. Since then, the value of these NFTs has increased by 4x from the original minted price.
The Silks Genesis avatar was quickly bought by top investment firms and members of the popular NFT community, such as BAYC and Cryptopunks.
In response to increased demand, Silks decided to issue another 5,000 Genesis avatars, with the first minted issue on Friday, July 29, 2022. It was a special mint as each avatar purchased automatically received a claim for a one-acre land parcel, as long as they held their avatar for at least 45 days. Due to limited supply, each customer was only able to make two NFTs, and the pricing for NFTs was layered.
Silks Land is a one-acre land parcel of virtual land that can be purchased in the Metaverse. In total, more than 200,000 acres of land can be purchased using $STT. In addition, landowners can earn rewards by betting horse NFTs on their farms.
Silks stables are buildings for keeping horses on virtual land. Each silk horse must live in a stable on a farm to be trained and fed. If you have space in your stables you can keep other horses and earn extra revenue.
Overall, silks replicate the real world horse race In the ecosystem metaverse. They have thought through every little aspect of the industry and created a thriving ecosystem in which players can truly experience the feeling of owning well-bred horses.
In our opinion, no other NFT horse racing project has even come close to the level of detail provided by Silks.
DeRace
spotlight wireDeRace is a virtual horse racing NFT game in which players can buy virtual horses and have them race against each other to win prizes. It simulates real life horse racing and gives players the ultimate horse racing experience with the opportunity to earn a stream of income.
One of the main user experiences of DeRace is to provide players with a variety of ways to make profits. There is a long list of income generating activities, which include;
- Breeding and trading of NFT horses
- run in a race
- Hosted Race at the Hippodrome
- Selling Analysis and Predictions
- Participate in referral rewards and bug reporting programs
Each NFT horse has different traits that define its rarity, performance and value.
Each horse is one of a kind with the following hidden and visible characteristics;
- hidden – speed, stamina
- Visible – Gender, Colour, Size, Breed, Breeding and Racing Cool-Down
In addition, horses have the following physical data;
- eye color
- eye shape
- body pattern
- body type
- Ear
- jaw
- additional key elements
- tail
The key factors for winning a race are speed and stamina. Therefore, you will win more races if your NFT ranks higher in these metrics.
NFT horses can be bought on the NFT market or created through breeding. For breeding, players must select two different NFT horses, one male and the other female.
Virtual horse racing is based on Random Number Generating (RNG) technology, which completely randomizes the winner of each race. Although speed and stamina play a part in influencing the winner of the race, it does not guarantee any results.
spotlight wireTo enter a race, the player must pay a participation fee in DeRace Coin ($DERC), the token that drives the entire platform. A set amount of horses may participate in each race, and the winner collects a percentage of all participants’ fees plus additional prizes.
After an NFT horse has run, their cool-down timer immediately starts preventing them from running again. In addition, the winner has the prizes automatically sent to their wallet, eliminating the possibility of manipulation and fraud.
All horse racing takes place in the Hippodrome. A Hippodrome consists of 10,000 individual NFT tokens, and a player can own part of the Hippodrome.
spotlight wirePlayers who hold more than 50% of NFT tokens can manage the Hippodrome race and become a ‘Bookmaker’. These bookmakers can choose how and when to host the race at their Hippodrome. They also control race entry fees and winning prize money.
Overall, DeRace has created an exciting experience that simulates horse racing and provides an opportunity to generate some extra income.
Pegaxi
spotlight wirePegasus Galaxy, better known as Pegaxy, is a horse racing sport in which horses are designed in a futuristic mythological style. The game allows players to compete in player-versus-player races to win prizes in the platform’s native utility token, Vigoras ($VIS).
Each race features 14 Pega NFTs, a descendant of Pegasus’ horse, and wins the top 3 placement prizes.
You can access Metaverse directly from your desktop browser. Alternatively, you can choose to race directly from your mobile phone.
Within the game, players can breed, merge, rent, sell and race their Pega NFTs to earn VIS tokens.
The first 5,000 Pega NFts were launched in October 2021, all designed by the team. Each Pega after the number 5,000 is molded through a reproduction model inside the gameplay.
The Pegaxy Metaverse is built on the Polygon and Matic Layer 2 blockchains and uses a dual token economy with Pegaxy Stone ($PGX) and $VIS. These two tokens provide a reward and transaction model for the entire ecosystem to function.
The races are completely free to join, but the player must have at least one Pega NFT. Before being able to race, players must adjust their NFTs to balance against the natural element variables. These variables include:
- pace
- might
- lightning
- Air
- Water
- fire
spotlight wireThe winner of each race is based on a Random Number Generator (RNG), which generates the winners at random. However, NFT statistics play a minor role in determining the winner of the race and increase the chances of finishing in the top 3 places.
In addition to the daily races, the game also features a Grand Dash tournament. The tournament consists of a monthly qualification round, the final of which is held in December. A total of 132 racers will compete in the final, which is considered the most important day of racing in the Pegaxy Metaverse. In addition, players can win large $PGX prizes from the Ecosystem Fund and Community Treasury if they win the Grand Dash tournament at the end of the year.
In addition to Pega NFTs, there are also NFTs for stadiums, gear, and food.
spotlight wireOwning a stadium is one of the best ways to monetize the NFT ecosystem. Here, you can host races and earn a percentage of all winnings as a reward.
In addition, you can buy additional ‘gear’ for your NFTs to improve your chances of winning the race. The gear you can buy includes;
- head wear
- knee wear
- wear chest
- wear backside
Overall, Pegaxy has created a fun, vibrant and expansive ecosystem to emulate horse racing in a mythical form. Although it’s not very close to real horse racing, it’s still a great project.
conclusion
Overall, horse racing is an extremely popular sport, and we can expect more NFT horse racing projects to appear in the future. However, the projects listed here are the best options to get started in this area.
In our opinion, the best NFT horse racing project is Silks, as it is the world’s first derivatives-based sport metaverse that brings the thrill and responsibility of owning a good breed racing horse to the blockchain.
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