Zed Run is described as "Tamagotchi meets the Cheltenham Festival". The online game is based on digital horse ownership, racing, trading, and breeding.
It has become the latest surprisingly lucrative crypto trend to emerge from NFT hype. As of right now, "Zedrun" has reported up to 11000 horses sold, with another 8 thousand bred across 3,600 virtual stables.
Australia-based Virtually Human Studio has been busy this year. They launched Zed Run early in 2019, selling 4,450 digital horses that year with an average price of about $30.
NFT TECHNOLOGY
It uses NFT technology to establish proof of ownership and allow for secondary transactions on sites like OpenSea, the popular digital art and collectables marketplace where people can trade their virtual assets.
Just like real racehorses, digital horses possess various factors that make them better than the others. These include breed types and bloodlines back to original prototypes created by Zed Run's owners - "Genesis" racers!
Did you know that rare horses on the platform are now selling for more than $15,000? In fact, the current record for a digital horse sale is $125,000. The odds of winning a race vary based on the length, experience level and the number of races run. The best indicator for your odds is your racing history, and other factors like weather conditions could factor into results.
"Unlike their real-life counterparts, ZED RUN's racehorses aren't bound by the limitations of the physical world. This means that horse racing is now a 24/7 sport," Chris Laurent, VHS's CEO, said in a statement.
NEW INVESTMENT
Virtually Human Studio (VHS), the company behind digital horse racing service Zed Run, raised $20 million through Series A funding from two venture capital companies: Red Beard Ventures and Andreessen Horowitz.
The company mentions in a statement that it has recently collaborated with Atari, Stella Artois and The Preakness. Just a few days before the announcement of the $20 million investment.
The company will use the investment to hire new developers and accelerate their growth. In addition, VHS plans to expand its game economy by allowing players to own race tracks, create and sell accessory designs.
Virtual horse racing has recently become the latest NFT hype thanks to a game called "Zed Run". In this article, we've outlined what Zed Run is and how it works. In addition, we've also covered some of the investment that Virtually Human Studio (VHS) has received to grow its user base.
With more than 10,000 horses sold so far, there's no doubt that VHS will be able to continue developing its player base with these investments. Which would make them an attractive acquisition target for larger companies looking at eSports as a new way to engage customers.
THE FUTURE OF NFT's
NFTs are a type of digital asset that is usually ownership-based. This means they allow people to own an asset without actually owning the physical product. NFTs can also be tradable, meaning you can sell them if you want to make money off of them. These digital assets are stored on the blockchain, which means the information is secure and cannot be altered.
The future of NFT's will probably include digital assets like Zed Run horses and other types of virtual assets like online stores or games. The future of these assets will also depend on what new technologies emerge soon, such as quantum encryption or quantum computing.
The most expensive non-fungible token (NFT) ever sold was EVERYDAYS: THE FIRST 5000 DAYS by famed digital artist Mike "Beeple" Winkelmann. The NFT, composed of 5,000 of his earlier artworks, demonstrates the evolution of Beeple's style over his career.
