A new wave of Non-Fungible Tokens (NFTs) has arrived. These new NFTs focus on delivering real use cases that also have value in the world outside of crypto. Silk.io’s new NFT crypto project – launching on September 29 – is a good example of this. This new project offers NFTs in the form of racehorses in a Play-to-Earn mechanism that fully reflects the horse racing industry.
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And the good news: there’s no better time than now to get involved, as Silks starts with a reduced price of €500 for the four days from 29 September to 2 October.
Silks is a full-blooded NFT project
Silks was created by horse racing entrepreneur Troy Levy. In addition to co-founding Silks, he is CEO of horse racing partnership Tropical Racing and owner of Circle 8 Farms in Lexington, Kentucky. A real horse businessman at heart and soul.
The entire Silks team knows the equestrian sport inside out, and as such they are extremely capable of bringing the sport to an even wider audience. And how do you do that with today’s technological advances? Right, via web 3.0 and metaverses.
It is not the first time that blockchain technology has been applied to the gaming industry, but in particular to horse racing. For the first time, players will be able to own, trade and earn rewards in a metaverse’s thoroughbred racehorses.
Silk’s virtual horses reflect the real world of racing – and the billions of euros involved
Horse racing has been very big business for decades. With this, Silks is digitizing an industry worth around 300 billion euros, according to the Equine Business Association.
The virtual horses in the metaverse are actually copies of horses from the real world. The value of the virtual horse is therefore linked to the actual performance of the horse in question in the outside world. Which means exactly the same skills as in horse racing are needed to get rewards in Silks.
Every virtual horse in Silks’ metaverse uses NFT technology. This means that all the individual characteristics that make the horse unique are securely registered online and can be reproduced.
The project thus optimally utilizes the development around Web 3.0. With this project, they are digitizing an entire industry by bringing it to the metaverse. In addition, they can provide users with an immersive online experience. In addition to virtual horses, virtual NFT land will also become part of the ecosystem. This means that the business model can create a lot of value for users.
Trade your in-game horse racing assets on the Silks Marketplace
In Silk’s ecosystem, you can buy land, build stables, train horses, breed horses and earn rewards with your horses’ performance during the races. All of these in-game assets are fully tradable through Silk’s marketplace.
Silk reflects all the real activity in the industry. For example, new pools of horses are added every year, which is also an important part of the horse racing season.
With Tropical Racing and Circle 8 Farms as strategic partners, it is probably no exaggeration to say that Silks likely controls the fantasy sports horse racing market in the Play-to-Earn NFT world, giving the platform a huge value proposition.
In the United States alone, 20,000 thoroughbred horses are born each year. Silke follows their life cycle through the – NFT driven – tokenization. Users of the game can lower the rewards from racing achievements in the outside world throughout the game.
If that doesn’t sound like a winning formula for an NFT project, we don’t know what is. We therefore expect this project to take off in the coming days, so hurry if you are interested.
Anyone with an Avatar run can participate in the presale, which begins Thursday, September 29.
You can buy Silks Avatars on the website of NFT market leader OpenSea. The floor price is currently 0.16 ETH.
It is certainly possible that Silks could become the most popular NFT projects of the year with this new business idea. The Play-to-Earn mechanism would most likely gain traction from both horse racing enthusiasts and a wider audience looking to get in on the action and see opportunity in the rewards.
Go to Silks now