Game of Silks, the first-ever play-to-earn (P2E) metaverse featuring derivative NFTs (non-fungible tokens), has announced the successful completion of its fundraising campaign. According to the official statement, the team behind this highly anticipated blockchain game has raised $2 million, which will accelerate the development of its metaverse that reflects a virtual replica of the real-world thoroughbred horse racing industry. Tropical Racing Inc., a multi-faceted thoroughbred horse breeding and racing company led by Game of Silks co-founder Troy Levy, is among the companies supporting the Game of Silks project both financially and strategically.
Game of Silks proposes to bring thoroughbred racehorse ownership to the masses through Web3 technology, real-world data, and a play-to-earn approach. In a blockchain-enabled metaverse, Silks will digitally clone and tokenize the top one-year-old thoroughbred racehorses registered in the United States, which will then be sold as Silk NFTs. These one-of-a-kind Silk NFTs will be used to track the real-world horses’ bloodlines, training progress, and racing performance, in turn rewarding NFT owners with valuable tokens as the real-world horses win races and breed offspring. In addition to Silks’ Horse NFTs, users of the Silks platform will be able to own, trade, and interact with Silks Avatars, Land, Stables, and a wide variety of other in-game NFTs.
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According to Troy Levy, the CEO of Tropical Racing Inc and co-founder of Game of Silks, “The transaction announced today with Game of Silks represents a unique opportunity for Tropical Racing and our shareholders,” says 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.”
In the meantime, Silks will release its first NFT offering, the Silks Genesis Avatar Collection, on April 27th. These Silk NFTs represent a user’s unique identity and ownership of in-game assets within the Silks metaverse. Users can acquire early access to the Silks Genesis Avatar Mint via the Silks website or the Silks Discord.
Game of Silks CEO and Co-Founder Dan Nissanoff is optimistic about the upcoming release. He stresses, “I am excited to have a strategic investor like Tropical Racing as an early investor in our round,” says Nissanoff. “They bring deep industry expertise and a valuable network critical to the execution of a derivative metaverse project like ours.”
Launched in June 2021, the Silks ecosystem also features a non-inflationary pair of tokens to ensure a stable economy within its metaverse. While other P2E games can manufacture as many NFTs as they like, Silks NFTs are restricted by the number of genuine horses born in the real world, making the total number of Silk NFTs extremely scarce. On top of it, Game of Silks also features a DAO (decentralized autonomous organization), which means that its community members will own all of the revenue generated on the platform.
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