Game of Silks, a visionary startup in the realm of fantasy horse racing, has announced the successful raising of $5 million, as stated in their recent release.
Game of Silks NFT holders have the unique opportunity to reap rewards based on the actual performance of the corresponding real-world thoroughbred. Since its launch in June 2021, Game of Silks has established key partnerships with renowned organizations such as the New York Racing Association, Belmont Race Track, The Jockey Club, and FOX Sports’ Americas Best Racing. With this latest funding round, the web3-based fantasy sports company has now accumulated a total of over $10 million in investment.
The fusion of NFTs with the flourishing fantasy sports industry is not a novel concept. Sorare has notably been a front-runner in this regard, securing substantial funding and creating buzz through partnerships with prominent entities like the English Premier League and the National Basketball Association.
Some established figures in the horse racing world are optimistic about the potential for NFTs to rekindle interest in one of the world’s oldest sporting competitions.
Duncan Taylor, a key investor in Game of Silks’ recent funding round and a senior thoroughbred consultant at the long-standing horse brokerage firm Taylor Made, shared his enthusiasm, stating, “When we look at Game of Silks, we don’t just see a game; we see a transformative platform that heralds the future of horse racing. Investing in this round signifies more than a financial commitment; it marks our dedication to forging a partnership that will rejuvenate and elevate the sport to its glory days when horse racing was the largest spectator sport in the U.S.”
Game of Silks has introduced more than 7,000 “Silks Genesis Avatars” NFTs, currently trading at a base price of 0.08 ether, equivalent to $125, based on data from OpenSea.