All About Horse Racing NFTs

Share On Facebook
share on Linkedin
Print

One of the newest trends in horse racing is Zed Run – based on the crypto world’s NFTs. Zed Run is an online ‘game’ that allows players to own digital horses – and you can then do exactly what you would do with a real horse – including racing, breeding and even trading.

The game was launched by Virtually Human Studio in Australia in 2019 and in the first year, it sold almost 4500 digital horses. The game relies on NFT (Non-Fungible Tokens) technology to establish proof of ownership and allow secondary transactions.

Two years on, and there have been 11,0000 horses sold, 8,000 horses bred and 3,600 digital stables established. Some horses are now even being sold for more than $15,000 – with one even going for $125,000. It certainly seems like the world is taking notice.

The NFT technology allows the horses to be differentiated in different ways, with any of the bloodlines and breeds that can be traced back to the horses Zed Run created being viewed as the ‘Genesis’ racers. The odds of a horse winning a race are unseen to users – and it is the horse’s race history that offers the most information on their prowess – which very much varies based on race length. However, they will factor in other features that will affect results – just as is the case with real-life horse racing, such as track location, weather conditions etc. Numerous races are run every hour in six different classes, which are all based on the experience level and success record of the horse.

An owner of a horse can participate in a race by paying an entry fee – and prizes can range from a few dollars to hundreds of dollars.

These were designed to be an improvement of the animated horse racing terminals that are currently found in casinos and bars, which are old-fashioned and no longer fit for purpose. Now, with this NFT technology, users can own horses which totally changes the dynamics. However, this is more than just about gambling opportunities.

Zed is designed to be a real-world that exists on a parallel timeline to ours – on a planet where horse racing ‘reigns supreme’. Zed Run owners can use augmented reality to see their horses as if they were in the very same room, almost like teleporting them from a different world. Because this is more than a game – it’s a world, there’s lots of room for growth – and in the future people could also make a living within Zed Run, by becoming owners, managing horses – and even hosting digital events.

NFT-Based Horse Racing Platform

Looking at the technology behind the game, it is a blockchain manifestation of real-life horse racing. It created a virtual environment that allows people to buy and sell horses, train them, participate in races, maintain stables and even win prizes.

This is an excellent business idea… because although equestrian sports don’t have quite the same following as football, they are starting to become more popular and more young people are taking up horse riding – and starting to enjoy watching and betting on horse racing. So, Zed Run capitalises on this. The introduction of Blockchain in ZedRun – and one of its manifestations (the NFT), makes this the perfect digital horse racing platform.

The technology behind NFT means that how unique a horse is, how much it is valued at and who owns it is maintained globally. This is a hugely exciting development that no one can deny could be interesting as a hobby and even as a business opportunity and changes virtual horse racing as we know it – creating a whole new world to explore.

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20211202 06:09:13