Imagine a new way to enjoy horse racing, where you can own digital horses and win rewards based on their real-life performance. This exciting concept is brought to life by Game of Silks, a fantasy horse racing startup that recently received a big investment of $5 million. Let’s dive into what this means for the world of horse racing and how it’s making use of special digital items called NFTs.
About the Company
Game of Silks started its journey in 2021, and it’s not your typical horse racing business. Instead of owning real horses, they let you own something called an NFT, which stands for Non-Fungible Token. These NFTs represent horses, and when these digital horses win in real races, you can win rewards. Game of Silks is all about making horse racing more fun and interactive for everyone.
The Funding of $5 Million
Game of Silks just got a huge boost with $5 million in funding. In total, they’ve raised more than $10 million since they started. This shows that a lot of people believe in what they’re doing and are excited about their vision for the future of horse racing.
The NFT Revolution in Horse Racing
NFTs are like digital collectibles, and they’re really popular these days. Game of Silks has created more than 7,000 NFTs called Silks Genesis Avatars. These digital horse tokens are worth about $125 each.
But it’s not just about collecting these digital horses; it’s also about earning rewards. If your digital horse wins a real race, you win too! It’s like having a stake in a real race without actually owning a horse.
Game of Silks has also teamed up with well-known horse racing organizations like the New York Racing Association, Belmont Race Track, The Jockey Club, and FOX Sports’ Americas Best Racing. This means they’re taking horse racing to a whole new level, thanks to NFTs.
Game of Silks is changing the game of horse racing by adding a digital twist. With NFTs, they’ve made horse racing more fun and interactive. The $5 million in funding is a big vote of confidence in their ideas and shows that horse racing and digital technology can work together in exciting ways.
Why is Game of Silks getting $5 million so important?
This $5 million is like a big boost for Game of Silks. It helps them do even more exciting things in the world of horse racing. It also shows that people are excited about their ideas and believe in their vision.
How is Game of Silks different from traditional horse racing?
In traditional horse racing, you watch the races as a spectator. But with Game of Silks, you become a digital horse owner through NFTs. You can win rewards when the real horse you own virtually wins a race. It’s like having a piece of the action!