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Thursday, February 16, 2023
HomeNewsSilks Secures $2 Million Funding To Develop The First-Ever Thoroughbred Horse Racing...

Silks Secures $2 Million Funding To Develop The First-Ever Thoroughbred Horse Racing Metaverse


Game of Silks (Silks), the first-of-its-kind by-product play-to-earn (P2E) metaverse that includes by-product NFTs, has efficiently secured $2 million in funding. This recent capital injection comes simply weeks forward of the Kentucky Derby and the upcoming launch of Silk’s first NFT assortment. Tropical Racing Inc., a premier thoroughbred horse breeding and racing firm, is among the many many firms providing strategic and monetary assist to the Silks undertaking.

Troy Levy, the CEO of Tropical Racing Inc. and the co-founder of Game of Silks, explains, “The transaction announced today with Game of Silks represents a unique opportunity for Tropical Racing and our shareholders. We’re optimistic that this partnership has the potential to accelerate Tropical’s growth, while also introducing the thoroughbred horse racing industry to the next generation of sporting enthusiasts.”

The Silks crew can be getting ready to launch its first-ever NFT providing referred to as the Silks Genesis Avatar Collection on April 27, 2022. Silks Avatars will characterize a consumer’s distinctive id and possession of their in-game property inside the Silks metaverse, making them a essential part of the Silks ecosystem. Users can achieve early entry to Silks Genesis Avatar Mint through the Silks web site or get hold of whitelist entry by way of Silks Discord previous to the sale.

Thoroughbred Horse Racing Arrives In The Metaverse

At its core, Silks is an immersive, skill-based, and progressive P2E sport that goals to advertise racehorse possession for the lots whereas gamifying the complete expertise by way of NFTs, in-game rewards, and its native tokens $SLK and $STT.

Founded in June 2021, Game of Silks is a by-product blockchain-based metaverse with a local play-to-earn (P2E) economic system that goals to make proudly owning thoroughbreds and horse farms accessible to anybody. Accordingly, every Silks NFT is a tokenized clone of the highest one-year-old thoroughbred racehorses registered within the United States. All Silks NFTs shall be used to trace the bloodlines, coaching progress, and racing efficiency of the real-world horses, rewarding NFT homeowners with in-game tokens and different advantages because the precise horses win races and breed offspring.

The Silks NFTs supplied are organically scarce, which means that whereas different tasks can mint as many NFTs as they need, Silks NFTs are delimited by the variety of precise horses in the true world. As a consequence, the Silks crew can’t manipulate the market or dilute the worth of circulating NFTs. Additionally, Silks additionally consists of its personal DAO (decentralized autonomous group), thus making certain that the entire income is shared with the neighborhood members.

Highlighting the assist from a premier thoroughbred horse breeding and racing firm Tropical Racing Inc., Game of Silks CEO and Co-Founder Dan Nissanoff notes, “I am excited to have a strategic investor like Tropical Racing as an early investor in our round…They bring deep industry expertise and a valuable network critical to the execution of a derivative metaverse project like ours.”


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