What Is Digital Horse Racing And How It Is Connected To The Crypto World?

The NFT industry is growing every day. According to the results from June 2022, the demand for digital artwork exceeded previous predictions. If the popularity and involvement of the NFT industry keep going with the current rhythm, it is predicted that the total value of the market will be more than 13.5 billion USD by 2027. Currently, the total value is about 3 billion USD. 

For those who do not know what can be a subject of NFT, the answer is simple. It can be everything! The main point of NFTs is to be based on blockchain technology and have a cryptographic style. Accordingly, NFT can be a painting, an image, or a video game too. Digital horse rising is one example of a successful NFT that becomes more and more popular every day. To describe more simply, NFT horse is similar to video games but it is not completely.

So, digital horse racing is the digitized form of classic horse racing where you can join with your horse or place money on other horses’ winnings. So the main difference is just a form of racing. Read What is NFT

Why has digitized racing become more interesting and attractive among NFT users? Because it was easier to have access to and gives you more comfortable conditions with the time and effort of purchase. NFT space made this exclusive sport more available for everyone which definitely caused more interest. 

If you are interested in and want to experience a dynamic digitized racing experience with crypto winning, you have to check out our article. Down below we will explain everything you need to know!

What You Should Know About Digital Horse Racing

The main thing you have to understand about digital horse racing is that it is an NFT racing where you can join with cryptocurrencies. It is not a video game where you can use your gaming skills and win the race. It is not connected to your luck either. The result is about algorithms.

There are dozens of platforms that suggest different types of digital racing. Because of its high popularity, crypto horse racing betting is also available on major online casino platforms. As we said, for joining the race, you have to place a crypto bet on the horse but if you want to race with your horse, you also have to pay with digital currencies. Mostly you can buy horses with bitcoin or Ethereum.

More detailed features of the digital horse are based on the creator platform. For example, the most popular and leading platform is Zed. Racing called Zed Run, suggests a different type of horse for low or high prices. Here, you are able to own, as well as breed, and race with NFT horses. Zed Run horse market is public and you can check the prices easily. Different from other successful examples of NFT, horses do not cost millions of USDs but their prices are increasing according to the demand.  

Till today Zed sold more than 11 000 digital horses. Each horse is different with its visual or technical features where prices increase from dozens to hundreds of thousands of dollars. 

In one Zed Run race, only 12 horses can join. The race process, as well as results, are depending on how the algorithm will select the one from 10 000 different possibilities. Yes, the race outcome depends on the algorithm but it does not mean that the owner’s skills are meaningless. 

Skills are still needed mostly in selecting a horse and choosing the racing strategy. The digital horse racing platform is available 24.7 which creates a perfect condition for selecting a combination of strategies. If you need a change, you can breed or sell the horse and choose another to grow their stable. So, skills are necessary for making correct decisions. 

Why Horse Prices Are Different And How Cryptocurrencies Connects To Digital Horse Racing

To buy or sell NFTs, you need to have a cryptocurrency balance. No matter if it is an image or a video game,  NFT is completely based on digital currency trading. So, accordingly, if you want to join digital horse racing, you have to have a digital currency balance. The most frequently used digital currencies are Ethereum and Bitcoin. 

If you only want to join digital horse racing with betting, you also need to have a crypto balance. Even though horse prices are shown in USD on the official market of Zed Run, you need an equivalent amount of ETH to get your own horse. Also, remember that you need to pay an entry fee if you want to be an owner of the digital horse. 

Entry prices are standardized but the horse prices are different according to breed, gender, color, and bloodline. In total, there are more than 90 000 possible combinations. But the main determinator of the price is bloodline which can be four different types, including Szabo Buterin, Finney, and Nakamoto.  When it comes to genotypes, there are thousands of different alternatives. Breeds are 6 different types: legendary, exclusive, elite, cross, pacer, and genesis.

Source: Glusea