What is NFT Horse Racing – Ultimate Virtual Racing Guide

The NFT world has sprung up with remarkable speed in recent years, in many niches, but one dominant niche has emerged, NFT Horse Racing.

People are buying, trading, staking, and breeding NFT horses with the intention of earning passive income through virtual horse racing in the Metaverse, or online, or increasing the value of the NFT for the future.

With buzzwords such as NFTs and Metaverse, it can make the whole concept of NFT Horse Racing seem very complicated, but this article will help explain all.

Having been on the whitelist for one of the most hyped and well known NFT Horse collections, and after buying an NFT Horse, I want to share those experiences to help you understand what NFT Horse Racing is, and how it works.

NFT Horse Racing is a virtual horse racing event held online and viewable through Metaverse connecting devices, such as virtual headsets. Horse NFTs are purchased and bred to race in virtual races. The NFT horse races can be staked to race and win cash prizes.

Let’s have a look at how the NFT horses are created, bred, raced, and later sold and how this trend is only going to continue over the next few years.

What is an NFT Horse

An NFT (Non Fungible Token) is a digital asset. NFTs can be many different items, but the biggest trend so far are cartoon images, digital artwork, and characters.

The NFT itself will simply look like a cartoon or digitally designed horse, but by owning the NFT it becomes a virtual 3D horse in the Metaverse and can be entered into various virtual races.

This following image is an example of an NFT Horse. This is how it will appear in the owner’s wallet on platforms such as OpenSea, Solanart or Magic Eden.

NFT Horse - Fine Fillies

The following shows a similar horse In the Metaverse. As you can see, although the characteristics are the same, the horses are very different.

Once an NFT Horse is either created (also known as minting) or bought, it can be trained and entered into a selection of virtual horse races in the Metaverse.

Unlike virtual horse racing games that launched on games consoles and PCs in the 80s and 90s, these virtual horse racing events can be entered in to races from free or for a small amount of cryptocurrency.

If your NFT horse wins you win a cash prize.

Where to Buy an NFT Horse

With a number of NFT horse racing platforms appearing, where to buy an NFT horse can vary from platform to platform.

For example, Zed Run NFTs are purchased through the Hawku Zed Marketplace which is unique to the Zed Run platform.

Hawku Platform

On the other hand, other NFT horse racing collection such as the popular Fillies are bought and traded through the popular OpenSea platform, which is also home to the famous Bored Ape Yacht Club and Crypto Punks NFT collections.

The NFT marketplace, like Hawku and OpenSea, are just the place to buy and trade NFTs as well as viewing your collection.

The actual NFT is held in a digital wallet.

Both Hawku and OpenSea link in to the MetaMask wallet, which is now the most used digital wallet for holding both NFTs and cryptocurrency.

All NFT horses are purchased in cryptocurrency, and on top of paying the NFT price you will also have to pay gas fees – we have a helpful guide here on what NFT gas fees are

Currently this is almost exclusively Ethereum but as other NFT buying cryptocurrencies are taking a share of the space, the other two popular NFT buying cryptocurrencies – Solana and Polygon – are also purchasing options.

Once an NFT horse has been purchased, and safely in your digital wallet, its time to connect your wallet to the platform and start racing!

How to Race an NFT Horse

Hold your horses! (see what I did there 😊)

Before your horse is ready to race, you have to familiarise yourself with your NFT horse’s abilities, rarity, characteristics, and competition.

The rarity of your horse is included within the racing algorithms calculations through thousands of combinations to produce a winner.

Races are held 24 hours a day and 7 days a week. The Virtual horse racing world doesn’t stop.

The rarer your horse breed, the better its breeding and – depending on the virtual horse racing provider – the training you partake in can all add to the yields of success on the racecourse.

Some virtual horse racing platforms have opted for a traditional looking racecourse whereas other platforms such as Zed Run have opted for a more futuristic look and feel to their courses.

There is something to be said for Zed Runs approach which by far has generated the most amount of interest.

Here’s an example of how Zed Run works:

Racing NFT horses can be immersive, fun but equally frustrating.

There can be over 10,000 NFT horses looking to race and all looking to come first to collect the prize money.

With players with deep pockets hitting the space, building stud farms, and creating a stable of prime NFT horses, we are seeing some NFT horses trading hands for over $100,000 each!

Once you have chosen your race, assessed the competition and your NFT horse is in the gates, it’s over the platforms API to determine a winner.

The race automatically runs, there are no controls and no way to make your NFT horse run any faster during the race.

The only hope it is to cross your fingers and cheer them on!

How to Sell an NFT Horse

Just like in the real horse racing world, NFT horses can increase in value and be sold between different owners.

This is why many people are getting into this in a big.

Money can be made on every race with the right horse, and with races happening 24 hours a day 7 days a week, the same horse can run multiple times a day.

If your NFT horse wins a lot of races, has good breeding and has very rare characteristics it will stand out amongst the other NFT horses.

This is when your NFT horse increases in value, and you may be tempted to sell.

Fortunately, it is as easy to sell and NFT horse as it is to by one.

This again can vary from platform to platform but no matter which marketplace the horse can be bought from, it can be put up for sale too.

On OpenSea for example, by opening up the page with your NFT (which can be done through the ‘Profile’ menu option) you will see a very large ‘Sell’ button.

Here you can set your sale price and any sales timeframe you would like to include.

That’s it. If your NFT sells the sale will happen automatically through the platform and you will be transferred the amount the NFT horse sold for, minus all platform fees or royalties payable to the original creator.

The Future of NFT Horse Racing

There are a huge number of NFT projects looking to launch online and in the Metaverse.

Many just will not transition across very well, but critics have argued for a while the most industries most likely to transition well in to the Web3 Metaverse immersive environment are games, luxury goods and brands, fashion, and sports.

It’s not hard to see how NFT Horse Racing fits in to these categories.

Imagine being able to put on virtual glasses and spending a horse racing day in a virtual online world with friends and family whilst cheering on your own horse which could win you a cash prize.

It’s easy to see why this could lend itself in to the Metaverse very well.

The big question though is which platform will be the dominant player in the market.

Being first has incredible advantages but being first is never guaranteed.

This is going to be one industry to watch closely!

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