NFTs, like cryptos, used to be a thing for tech enthusiasts. However, they’re everywhere now. There are NFT houses, cars, clothing and also horse racing. NFT horses only exist digitally, but you can breed and make real money with them. Better still, you can bet on their races, and there’s always competition. Here’s what you need to know about NFT horses and some top recommendations about betting.
Explaining NFTs
Non-fungible tokens (NFTs) are unique digital assets you can collect, buy and trade. The first NFTs appeared online in 2014, but the concept only took flight in 2017. The CryptoKitties, created by Dapper Labs, a Canadian gaming studio, was the first popular release. Those NFTs were based on the Ethereum blockchain, and you could breed and sell them, just like with horses.
Non-fungible tokens can be extremely valuable. The first tweet from Twitter’s former CEO, Jack Dorset, was sold as a non-fungible token for the unbelievable sum of USD 2.9 million. The most expensive one sold so far is the artwork “Merge,” created by Pak, a digital artist. The work was sold for USD 91.8 million.
Digital Races
Digital horses didn’t reach the heights of Pak’s works yet. Nevertheless, enthusiasts pay top dollar for them. Some people go as far as investing EUR 100,000 in a single breed. We’re talking about the platform ZED.run, which has already amassed over USD 23 million selling those horses.
ZED.run is one of the most popular platforms for digital horse races. It’s based on the Ethereum blockchain, and you can build entire stables there. There are round-the-clock races, with the lucky winners bringing home prizes in ETH.
If you are interested, you’re not alone. Fans created a community with 55,000 members on Discord. The company has partnered with giants of the gaming world, like Preakness Stakes and Atari. The platform deals with a betting volume of hundreds of thousands of ETHs daily.
Advantages of Digital Races
Digital races free horse racing fans from having to wait until the next derby, but not only so. Many perceive this option as a way to prevent animal cruelty. You don’t need to spend a dime on maintenance.
Those horses don’t eat, feel pain, never get overworked, stressed, or need vets. Real horses are pretty expensive, but at ZED.run, any commoner can have one or a fully functioning stable! You can breed your own NFTs to create a unique specimen.
After the Starting Gun
The outcome of the races is determined by data-driven calculations, which include several factors. Variables like weather, distance, location, gate preference, coat colour, and odds play a role in the final result. The best part of playing a blockchain-based game is that all the info is made public and transparent.
You can check the ancestry and breed of all horses involved. There’s even an independent platform called Knowyourhorses.com, which compiles this information for every horse in ZED.run. Also, unlike sportsbooks and DFS websites, this platform has no owners, which means it’s run by its community.