Ahead of Kentucky Derby, Game of Silks Secures $2 Million in Funding
Game of Silks (Silks) is the first derivative play-to-earn metaverse that mirrors the real world of thoroughbred horse racing.
Share this article
Game of Silks (Silks), the first derivative Play-to-Earn metaverse that mirrors the real world of thoroughbred horse racing, today announced that it has raised $2 million in funding and plans to secure substantial additional funding in the following months through the public sales of their NFTs. By utilizing innovative Web3 technology, real-world data, and a Play-to-Earn approach.
Silks will Bring 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 U.S. which will then be sold as NFTs called Silks Horses. These unique Silks Horse NFTs will then track the bloodlines, training progress, and racing performance of their real-world counterparts and reward 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, 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.
Troy Levy said:
“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.”
Tropical Racing runs a 200-acre horse farm that breeds, races, pinhooks, and syndicates thoroughbred racehorses. Game of Silks CEO and Co-Founder, Dan Nissanoff, believes that combining these real-world dynamics with Web3 technology will form the mixed-reality entertainment that differentiates the venture from other NFT projects.
Dan Nissanoff added:
“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.”
Having the public thoroughbred racing company as its lead strategic investor not only brings legitimacy to the venture, it will serve as a catalyst to bring more fans and an exhilarating experience to the sport of horse racing.
So far, the project has built the foundation of its metaverse and is set to release its first NFT offering, the Silks Genesis Avatar Collection, on April 27th. 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 within the Silks metaverse.
Game of Silks is the first derivative Play-to-Earn metaverse that mirrors the real world of thoroughbred horse racing. The Silks metaverse will be powered by a Play-to-Earn 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.
Tropical Racing, Inc. 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.