A new wave of non-fungible tokens (NFTs) has arrived. These new NFTs focus on providing real use cases that also have value in the world outside of cryptography. Silk.io’s new NFT crypto project – which launched on September 29 – is a prime example of this. This new project introduces NFTs in the form of racehorses in a Play-to-Earn mechanism that reflects the entire horse racing industry.
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The good news: There’s no better time than now to get involved, as Silks kicks off at a discounted price of €500 for the four days from September 29 to October 2.
Silk is an authentic NFT project
Silks was created by horse racing entrepreneur Troy Levy. In addition to co-founding Silks, he is CEO of the Tropical Racing partnership and owner of Circle 8 Farms in Lexington, Kentucky. A true horse businessman in heart and soul.
The entire Silks team knows the sport of equestrianism through and through and as such they are very capable of bringing the sport to a wider audience. And how do you do that with today’s technological advances? Right, across web 3.0 and metaverses.
This is not the first time that blockchain technology has been applied to the gaming industry, but to horse racing in particular. For the first time, players will be able to own, trade and earn rewards in full-blooded Metaverse race horses.
Silex virtual horses reflect the real world of racing – and the billions of euros involved
Horse racing has been a very big business for decades. With this, Silks is digitizing an industry worth about 300 billion euros, according to the Equine Business Association.
Virtual horses in the metaverse are actually copies of horses from the real world. Thus the value of a virtual horse is related to that horse’s actual performance in the outside world. Which means that the same skills found in horse racing are required to get rewards with silk.
Every virtual horse in the Silks’ Metaverse uses NFT technology. This means that all of the individual characteristics that make a horse unique are safely recorded online and can be reproduced.
Thus, the project makes optimal use of developments surrounding Web 3.0. With this project, they are digitizing an entire industry by moving it into the metaverse. In addition, they can provide users with an immersive online experience. In addition to the virtual horses, the NFT virtual 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 Silks ecocystem you can buy land, build stables, train horses, breed horses and earn rewards by performing your horses during races. All of these in-game assets are fully tradable through the Silks Market.
Silk reflects all the real activity of this industry. For example, new groups of horses are added every year, and it is also an important part of the horse racing season.
With Tropical Racing and Circle 8 Farms as strategic partners, it is perhaps no exaggeration to say that Silks likely controls the fantasy horse racing market in the Play-to-Earn NFT world, giving the platform a tremendous value proposition.
In the United States alone, 20,000 Thoroughbreds are born each year. Silk traces its life cycle through NFT-powered coding. Game users can get rewards from racing achievements in the outside world through the game.
If that doesn’t sound like a winning formula for the NFT project, we don’t know what is. So we expect this project to take off in the coming days, so be quick if you’re interested.
Anyone with an Avatar race can participate in the pre-show, which begins Thursday, September 29th.
You can purchase Silks Avatars on the website of the market leader OpenSea in NFT. The lowest price is currently 0.16 ETH.
It is certainly possible that Silks will become the most popular NFT project of the year with this new business idea. The Play-to-Earn mechanism is likely to gain a following from both horse racing enthusiasts and a wider audience who want to take part in the action and see opportunities in rewards.
Go to Silex now