With the Kentucky Derby this weekend, many were eyeing their favorite horses and equestrians and much was at stake, no doubt.
However, there are lesser-known horse races taking place everyday, every hour even, powered by cryptocurrency.
The horses in question are not ones you can touch, they exist digitally as NFTs, or “nonfungible tokens”.
This is more than a digital horseracing simulator. Zed Run, a digital horse racing platform, houses what are called “breathing NFTs”.
Without getting to deep into the technical side of NFTs, these digital horses are unique, no two are the same. They can be owned, bread and more importantly, raced for prize money.
The digital horse racing trend is on the rise, and it doesn’t seem to be a laughing matter. According the New York Times, single horses have sold for over $125,000.
Zed Run races take place around the clock and the entry fees can cost anywhere from $5 to $50.
New digital horses become available through Zed Run “drops”. According to the Zed Run website, they sell out quickly.
Zed Run’s website has all the resources one would need to get a footing in the digital horse racing game.