One highly popular rising niche is NFT Horse Racing. These metaverses are directly linked to real-world horse racing or simulate the horse racing economy through different gameplay styles.
Although still a very small niche, there are rising stars in this sector that are certainly worth considering investing in.
This article will cover the top 3 NFT horse racing projects to invest in.
The top 3 NFT horse racing projects to invest in
Silks – A Web3 fantasy game set in the real world of horse racing.
DeRace – A virtual horse racing NFT game that simulates the sport
Pegaxy – A mythological version of simulated horse racing
A closer look at the top 3 NFT horse racing projects to invest in
Silks is perhaps the most intriguing and detailed NFT horse racing project right now, as it is the world’s first derivative-based play-to-earn gaming metaverse.
You might have heard the term ‘derivatives’ in Bitcoin futures trading, where a perpetual contract represents the underlying asset – Bitcoin. In Silks, the horse NFTs are derivatives directly linked to real-world thoroughbred horses.
The entire idea of the game is to own the NFTs of the fastest real-world thoroughbred racehorses. If your NFT horse wins in real-life races, you get rewarded in the Silks metaverse.
Silks is a virtual world where its players can experience the real thrill of owning a racehorse. The project quickly gained popularity and became an all time top #15 best-selling Sports NFT on the Ethereum blockchain in less than three months. It was also added to the prestigious Nansen.ai Gaming 50 Index, the most respected NFT index.
So far, Silks has 24,000 members on its
Discord server and over 14,000 followers on Twitter.
In Silks, you will have to pick and choose the horses you think have the best probability of winning in their races, just as you would in real-world horse racing. Furthermore, if your NFT horse produces real-world offspring, you are rewarded in the Silks metaverse.
The great thing about the project is that Silks mirrors the thoroughbred horse racing industry that generates $11 billion annually in the US. The horse racing industry has always done well in all market conditions, even through the recession. So far, 2022 has been a record breaking year for thoroughbred Horse Sales and prize purses.
Considering how popular horse racing is, these Horse NFTs could become very expensive after they’re released. It is estimated that yearlings, 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. As the NFTs are derivatives of real horses, we could expect their value to increase dramatically as the project matures.
According to the
Silks whitepaper, around 20,000 foals are born and registered in the United States each year after turning one-year old. The first Silks Horse NFT drop is expected to sell in a traditional blind NFT sale with a subsequent reveal. This will provide a completely level playing field as owners will not know which horse they will get until revealed.
After the first Silks Horses NFTs drop, Silks will continue to release subsequent batches of NFTs in parallel to the real-world registration of yearlings in the US.
Horse NFTs aren’t the only NFTs offered by Silks. In fact, Silks has created an entire replica of the whole real world horse racing ecosystem that includes;
- Silks Avatars
- Silks Land Parcels
- Silks Stables
Through this ecosystem, members of Silks can;
- Speculate on land
- Develop land into horse farms
- Purchase and trade horses
- Enter into horse ownership pools
Players must purchase a Silks Avatar to earn in the SIlks metaverse. This serves as their digital identity and allows them to explore, socialize, and participate in the play-to-earn races in the game.
Silks dropped the first batch of Genesis Avatars in April 2022 for 0.2 ETH. Since then, the value of these NFTs has grown by 4x the original mint price.
The Silks Genesis Avatars were quickly purchased by top investment firms and members of popular NFT communities, such as BAYC and CryptoPunks.
In response to the increased demand, Silks decided to release another 5,000 Genesis Avatars, with the first mint released on Friday, July 29, 2022. This was a special mint as every Avatar purchased automatically received a claim for a one-acre land parcel, so long as they hold their Avatar for at least 45 days. Due to the limited supply, each customer was able to mint only two NFTs, and the pricing for the NFTs was tiered.
The Silks Land are one-acre land parcels of virtual land that can be purchased in the metaverse. In total, over 200,000 acres of land can be purchased using $STT. In addition, landowners can earn rewards by staking the horse NFTs on their farms.
Silks Stables are buildings to house horses on virtual land. Every Silks horse must live in a stable on a farm to be trained and fed. You can house other horses and earn additional revenue if you have space in your stable.
Overall, Silks has replicated the real-world horseracing ecosystem into the metaverse. They have thought through every little aspect of the industry and created a thriving ecosystem in which players can really experience the feeling of owning thoroughbred racehorses.
In our opinion, no other NFT horse racing project has even come close to the level of detail provided by Silks.
DeRace is a virtual horse racing NFT game in which players can purchase virtual horses and enter them into races 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 core user experiences of DeRace is to provide players with a diverse way to earn a profit. There is a long list of activities that generate income, including;
- Breeding and trading NFT horses
- Participating in races
- Hosting races in hippodromes
- Selling analysis and predictions
- Participating 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 features;
- Hidden – Speed, stamina
- Visible – Sex, color, shape, breed, breeding & racing cool-downs
In addition, the horses have the following physical data;
- Eye color
- Eye shape
- Body pattern
- Body type
- Additional head element
The key factors for winning a race are speed and stamina. Therefore, you will likely win more races if your NFT ranks higher in these metrics.
The NFT horses can be bought in the NFT marketplace or created through breeding. To breed, players must select two different NFT horses, one male and the other female.
The virtual horse races are based on Random Number Generating (RNG) technology, making the winner of each race completely random. Although speed and stamina play a role in influencing the winner of the race, it does not guarantee any outcome.
To 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 can participate in each race, and the winner collects a percentage of all the participants’ fees and additional prizes.
After an NFT horse has raced, their cool-down timer begins to prevent them from racing again straight away. In addition, the winner automatically has the prizes sent to their wallet, removing the potential for manipulation and fraud.
All of the horse races take place in hippodromes. One hippodrome contains 10,000 individual NFT tokens, and a player can own part of a hippodrome.
Players who own more than 50% of the NFT tokens can administrate the hippodrome races and become ‘bookmakers.’ These bookmakers can choose how and when to host races in their hippodromes. They also control the race entry fee and winner prize fund.
Overall, DeRace has created an exciting experience that simulates horse racing and provides an avenue to generate some additional income.
Pegasus Galaxy, known as Pegaxy, is a horse racing game in which the horses are designed in a futuristic mythological style. The game allows players to compete in player-vs-player races to win rewards in Vigorus ($VIS), the platform’s native utility token.
Each race includes 14 Pega NFTs, horse descendants of Pegasus, and the top 3 placements win prizes.
You can access the metaverse straight from your desktop browser. Alternatively, you can choose to race directly from your mobile phone.
Within the game, players can breed, merge, rent, sell, and race their Pega NFTs to earn the VIS tokens.
The first 5,000 Pega NFts were launched in October 2021, all designed by the team. Every Pega after number 5,000 has been minted through the breeding model inside the gameplay.
The Pegaxy Metaverse is built on the Polygon and Matic Layer 2 blockchains and employs a dual token economy with Pegaxy Stone ($PGX) and $VIS. These two tokens provide rewards and transaction models for the entire ecosystem to function.
Races are totally free to join, but the player must own 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:
The winner of each race is based on a Random Number Generator (RNG), making the winners random. However, the NFT stats do play a small role in determining the winner of the race and increase the likelihood of finishing in the top 3 spots.
Besides the daily races, there is a Grand Dash Tournament in the game. The tournament holds qualification rounds monthly, with the final held in December. The final will host 132 racers in total, which is considered the most significant day of racing in the Pegaxy Metaverse. Furthermore, players can win large $PGX rewards from the Ecosystem Fund and Community Treasury if they win the Grand Dash Tournament at the end of the year.
In addition to the Pega NFTs, there are also NFTs for Stadiums, Gear, and Food.
Owning a stadium NFT is one of the best ways to earn from the ecosystem. Here, you can host races and earn a percentage of all the winnings as a reward.
Furthermore, you can purchase additional ‘Gear’ for your NFTs to improve your chances of winning a race. The Gear you can purchase includes;
- Head Wear
- Knee Wear
- Chest Wear
- Backside Wear
Overall, Pegaxy has created a fun, vibrant, and detailed ecosystem to simulate horse racing in a mythological form. Although it’s not remotely close to actual horse racing, it is still a great project.
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 sector.
In our opinion, the best NFT horse racing project is Silks, as it is the world’s first derivatives-based sports metaverse that brings the thrill and responsibility of owning a thoroughbred racing horse to the blockchain.
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