Boca Raton, Florida, April 19 — Game of Silks, the first derivative play-to-earn (P2E) metaverse that mirrors the real world of thoroughbred horse racing, has announced it has raised $2 million in funding and plans to secure substantial additional funding in the following months through the public sales of its nonfungible tokens (NFTs).
By utilizing innovative Web3 technology, real-world data and a P2E approach, Silks aims to bring thoroughbred racehorse ownership to the masses.
Silks will leverage a blockchain-enabled metaverse and a derivative model to digitally replicate and tokenize the top real-world one-year-old thoroughbred racehorses registered in the United States, which will then be sold as NFTs called Silks Horses. These unique Silks Horse NFTs will then track the bloodlines, training progress and racing performances of their real-world counterparts, rewarding owners with valuable tokens as they win races and breed offspring.
Furthermore, users of the Silks platform will have the ability to own, trade and interact with a variety of in-game NFTs that emulate the thoroughbred horse racing industry, including Silks Avatars, land and stables, in addition to the aforementioned Silks Horses.
Pivotal to the project has been the strategic support and financial backing of Tropical Racing, a multifaceted thoroughbred horse breeding and racing company led by CEO Troy Levy, who is also a co-founder of Game of Silks.
“The transaction announced today with Game of Silks represents a unique opportunity for Tropical Racing and our shareholders,” said Levy. “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.”
Tropical Racing runs a 200-acre horse farm that breeds, races, pinhooks and syndicates thoroughbred racehorses.
Dan Nissanoff, CEO and co-founder of Game of Silks, believes that combining these real-world dynamics with Web3 technology will form the mixed-reality entertainment that differentiates the venture from other NFT projects.
“I am excited to have a strategic investor such as Tropical Racing as an early investor in our round,” said Nissanoff. “They bring deep industry expertise and a valuable network critical to the execution of a derivative metaverse project such as ours.”
Having the public thoroughbred racing company as its lead strategic investor brings legitimacy to the venture and will serve as a catalyst to bring more fans and exhilarating experiences to the sport of horse racing.
So far, Silks has built the foundation of its metaverse and is set to release its first NFT offering, the “Silks Genesis Avatar” collection, on April 27. Silks Avatars are critical components of the project, as each will represent a user’s unique identity and the ownership of their in-game assets in the Silks Metaverse.
About Game of Silks
Game of Silks is the first derivative P2E metaverse that mirrors the real world of thoroughbred horse racing. The Silks metaverse will be powered by a P2E economy where participants can own, trade and interact with a variety of in-game NFTs, earn rewards through skilled gameplay and experience the thrill of thoroughbred horse ownership.
About Tropical Racing
Tropical Racing is a multifaceted thoroughbred horse-breeding and -racing company that operates its business primarily through the breeding, racing, pinhooking and syndicating of young thoroughbreds. Tropical Racing’s vision and extensive entrepreneurial ability to help shape the future of thoroughbred racing was the impetus for the strategic partnership and investment in Game of Silks.