https://ift.tt/koOwiTb Of Silks Raises $2M To Bring The Thoroughbred Horse Racing Industry To The Metaverse

Derivative play-to-earn metaverse ‘Game of Silks‘, which parallels the real world of thoroughbred horse racing, revealed today that it has raised $2 million in its funding round and aims to gain substantial additional funding in the coming months through public sales of its NFTs. Silks intend to offer thoroughbred racehorse ownership to the masses by combining cutting-edge Web3 technology, real-world data, and a play-to-earn methodology.

Silks will use a derivative model and a blockchain-enabled metaverse to digitally reproduce and tokenize the top real-world one-year-old thoroughbred racehorses in the United States, which will then be marketed as Silks Horses NFTs. These one-of-a-kind Silks Horse NFTs will then keep track of their real-world counterparts’ bloodlines, training progress, and racing results, rewarding owners with valuable tokens as they win races and produce offspring. In addition to the Silks Horses, Silks platform users will be able to own, trade, and interact with a range of in-game NFTs that mimic the thoroughbred horse racing sector, such as Silks Avatars, Land, and Stables.

Tropical Racing, Inc., a multi-faceted thoroughbred horse breeding and racing company led by CEO Troy Levy, who is also a Co-founder of Game of Silks, has been pivotal to the project in terms of strategic support and financial backing. “The deal with Game of Silks announced today represents a once-in-a-lifetime opportunity for Tropical Racing and our shareholders,” Levy says. “We believe this partnership has the potential to help Tropical expand while also introducing the thoroughbred horse racing industry to a new generation of sports fans.”

Tropical Racing is a 200-acre horse farm where thoroughbred racehorses are bred, raced, pinhooked, and syndicated. Dan Nissanoff, CEO and Co-Founder of Game of Silks, believes that mixing real-world dynamics with Web3 technology would create mixed-reality entertainment that sets the company apart from other NFT efforts. “I’m thrilled to have Tropical Racing as an early investor in our round,” Nissanoff says. “They bring a wealth of industry knowledge and a significant network that is essential to the implementation of a derivative metaverse project like ours.”

Having a public thoroughbred racing corporation as a strategic investor not only gives the endeavor legitimacy but also acts as a catalyst for attracting additional spectators and providing an exciting experience to horse racing.

Silks has laid the groundwork for its metaverse thus far, and the Silks Genesis Avatar Collection, its first NFT offering, will be released on April 27th. Silks Avatars are important parts of the project since they will reflect a user’s unique identity as well as ownership of their in-game assets in the Silks metaverse. Users can get early access to the Silks Genesis Avatar Mint by visiting silks.io or joining the Silks Discord whitelist.