For many horse racing fans, the dream of becoming a horse racing owner and breeder that trains the top winners in the biggest races remains a pipedream. The funds required to set this up are beyond the realms of most mortals. Now though there is another option to live out your dreams to become a successful trainer and breeder, via the blockchain.
Based on the non-fungible token (NFT) first popularised by Dapper Labs’ Cryptokitties, popular esports betting site Unikrn has teamed up with horse racing game provider ZED RUN to bring not just a form of horse racing betting to the world of the blockchain, but an actual simulation of the real horse racing industry.
Digital Racehorses and Crypto Bloodlines
At the heart of the project is are up to 38,000 unique horses, created by ZED, each of which will have their own unique set of attributes and who will be named after Crypto bloodlines, based on some of the names that are synonymous within the industry, such as Szabo, Buterin, Nakamoto and Finney.
Prospective owners can buy these horses while they are available, once in purchased, no more will be created, although new horses can be generated by combining male and female horses from different owners and bloodlines to create new horses, again with their own individual attributes.
Data for each horse will be tracked using ethereum’s ERC-721 standard and you will be able to purchase your horse fro ZED and then trade it on a specially designed Unikrn platform. Races are scheduled to start around mid-to-late March and of course, esports betting will be possible on the races, with players able to bet on themselves.
Unikrn’s software tracks information on the horses running in a race to create custom betting odds for the player against the house and players can bet using US Dollars or UnikoinGold (UKG). You can also deposit using other cryptocurrencies and convert it backwards and forwards into and from UKG.
Stallion sold for 50 ether
Speaking about the development, Unikrn CEO Rahul Sood stated:
“We’re trying to bridge the gap between modern-day wagering and blockchain.”
“You can own a horse. Your horse can win prizes and your horse can gain notoriety. We’re catering to a very broad audience, not just young people.”
Sood also confirmed that one ZED stallion had already been sold for around 50 ether, which is worth around $11,000 at current market conditions.
It is clear from the marketing and Sood’s comments that this new venture aims to marry the world of blockchain with esports betting, which has already been successfully achieved in the past in a number of different ways, along with the world of horse racing, which is a more ambitious leap but one which could attract a different type of user.
In traditional horse racing, the typical punter is generally older and not your typical demographic for esports betting or using blockchain technology. It is clear that Unikrn and ZED are keen to try and combine the appeal of horse racing with modern technology to draw in supporters from both demographics.
Image courtesy of Unikrn