Blockchain Game + Horse Racing, Explaining the Background and Value of MetaRace
MetaRace is a game developed based on horse racing, the world's oldest competitive activity, and blockchain technology.
Previously it wasn't easy to think that horse racing, a competitive activity, would be turned into a blockchain game. It has already attracted strong attention, and many people are waiting for the release of this game. Of course, because horse racing has a long history and is exceptionally well known worldwide, it will be an up-and-coming project as far as the popularity of blockchain games is concerned. This article will introduce the origin of horse racing in the blockchain game market and the new value created by playing blockchain games.
When it comes to horse racing, the countries and regions where horse racing is well developed are the United Kingdom, France, the United States, Germany, Ireland, Italy, Australia, Japan, China, etc. For example, in the United States alone, more than 100,000 horse races are held each year, with 90 million spectators, and the amount of horse tickets sold alone is as much as $12 billion.
In addition, for such a fierce market, its value also appears in collectibles. Items related to horse racing, including the racehorses themselves, the equipment or accessories used to tame them, and even the clothing and helmets worn by jockeys, are traded in many different places and at very high prices. The auction price for a thoroughbred racehorse can even run into millions of dollars, and there is no market for it!
Sheikh Mohammad Bin Rashid Al Maktoum, the King (Ruler) of Dubai, is known for his love of horses, having founded the Dubai Racing World Cup, one of the world's luxury events. The helmet he wore to win the World Equestrian Endurance Championship in 2012 fetched a whopping $6.5 million, along with the saddle used by Dubai's Crown Prince Hamdan bin Mohammed Al Maktoum to win the 2014 World Equestrian Games in Normandy, which fetched $655,000.
Why are these related items expensive? One could say that NFT already exists in reality. If it's a helmet used by a famous competitor, this is certainly something unique, and it's still easy to understand the value of the uniqueness attached to it. Also, in this regard, the idea of NFT used in blockchain games and the idea of horse racing race branding can be the same.
The reason for horse racing to enter the blockchain game market is not only because the perception of the asset is the same. In other words, the expansion of business such as betting derived from horse racing is also an essential factor in entering this market. As far as the points of horse racing association, asset authentication, and race expansion business are concerned, there is no doubt that blockchain gaming is the best solution. It is no exaggeration to say that blockchain gaming is at the forefront of the times. Horse racing challenges this new frontier will be a significant event.
MetaRace will create new value in horse racing through NFT.
MetaRace's blockchain game, will use ERC-721 and ERC-20 standard non-substitutable and substitutable tokens, respectively, to underpin the economic model. Its gameplay consists of three main components: collecting, racing, and betting. The core of collecting is acquiring and trading rare virtual items, including horses, jockeys, and accessories. Racing will be a gameplay experience similar to a traditional horse racing game. Players will bring their collections (horses, jockeys, decorations) to races and reap great rewards. The betting game is a way of playing for casual players, who do not need to train the horses and race but only need to analyze the comprehensive data of each participating horse through the data watcher and choose to bet for profit.
As mentioned above, this is a prevalent race that has fans all over the world. If you are a fan, you will want to own horse racing-related items. But that's not a very simple amount to come up. However, if it could be circulated in the market as an asset on the blockchain, it would be easy to get collectibles with the same value as the existing items. In this way, many fans could have their unique racehorse in the world. It would create an experience that would enable people to acquire expensive items.
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