Silks wants to bring the thrill of horse racing in the real world into the virtual realm.
The Silks project is the first derivative gaming platform, and its overarching objective is to merge the virtual world of the metaverse with the physical world of thoroughbred horseracing. To provide a more authentic experience, it also brings along a collection of 10,000 Silks Genesis Avatars dressed in horse racing attire. It is an intelligent step that complements both ends of this world. This contrasts with other metaverse efforts attempting to change the world into physical or virtual realms.
What is Silks NFT Game?
What exactly is the NFT Game Silks? Silks is a game that allows users to experience “the excitement of owning thoroughbred racehorses” in a virtual world. It is a part of the P2E gaming metaverse. Within the game, players can buy, sell, trade, and interact with a wide variety of NFT assets, such as Silks, Horses, Avatars, Land, and Stables.
The most crucial aspect of this platform is that users can earn tokens simply by demonstrating their gaming prowess and contributing to the network. The fact that each horse in the game is intimately linked to a thoroughbred horse in the real world gives the game its distinctive twist. According to this forward-thinking methodology, a Horse can track real-time data on the training progress, bloodlines, and racing outcomes of its counterpart in the actual world.
Additionally, the owner of the Silk Horse that corresponds to the racehorse earns some tokens whenever the racehorse achieves success in a race or produces children in the real world. Silks in-game transaction tokens are denoted by the currency symbol $STT.
In-game commodities, such as Avatars, Stables, Land, and Horses, can be purchased from the market with $STT tokens, which players can use to pay for themselves. In addition, the Silks governance token, denoted by the symbol $SLK, is tradable within the game metaverse. Token holders can join the Decentralized Autonomous Organization (DAO) and vote on essential platform issues. In addition, participants have the option of exchanging their $STT tokens for $SLK.
How does Silks work?
How does Silks work? By incorporating vast databases into the blockchain representing thoroughbred bloodlines, training progress, and race outcomes, it creates an environment that reflects the real world of the $11 billion Thoroughbred horse racing industry in the United States. The procedure generates NFTs, also known as Silks Horses, from the best 1-year-old thoroughbred racehorses registered in the United States.
The metaverse uses Avatars, Land, Horses, and Stables as NFTs. Each NFT group plays an important position in the Silks economy, which creates exciting new opportunities for participants to earn revenue. For instance, you have the chance to speculate on Silks Land. They are utilized in the construction of horse farms, stables, and several other types of experiences and infrastructure.
You can win STT tokens by betting on your Silk Horse at the Community Farm. You will receive a reward each time the real-life version of your Horse triumphs in a race or successfully produces offspring. You can also construct your own Farm, allowing you to receive a portion of the benefits created by betting on Horses. The possibilities are limitless.
Blockchain technology brings the excitement of horse racing to a broader audience. Because of the project’s potential, it is anticipated that the NFTs will amass an immense value by this year’s close. The game has developed Horse Syndication in response to the fact that this may render the platform unaffordable for participants with average or minimal initial investments.
Reduces the entry hurdle to the platform by making it possible for users to purchase fractional NFTs. Investing a substantial sum of money in a single Horse is risky business, but doing so in this manner is a smart strategy to reduce those risks. If you invest your money in various NFTs, the results of the races run by real-world thoroughbreds will not impact where you stand.
Because it is so intimately associated with a sector that exists, the economy of Silks possesses a significant amount of untapped potential for expansion. The equine industry is having a banner year in terms of the number of horses sold and the total prize money awarded.
The Silks ecosystem comprises many components that work together to give a genuinely immersive experience in horse racing and ensure that the platform does what is best for its customers.
The Whitepaper for Silk states that the metaverse will be managed by a DAO (decentralized autonomous organization), and the holders of $SLK tokens will have the exclusive and exclusive right to participate in making decisions relating to the governance of the metaverse. Aside from this particular aspect, mining is a significant feature of the Silks NFT universe.
A substantial quantity of data is essential for Silks to operate consistently in the actual world of horseracing. The information on real-life horses and their digital clones is gathered through these decentralized datasets.
Silks is one of the most interesting non-fungible tokens (NFTs) initiatives because the miners utilize a proof of stake (PoS) system to validate the data. They are rewarded in $SLK for doing so.
Their Avatar represents a player’s identity inside the ecosystem. Every Avatar comprises various hues, patterns, and qualities that form a distinctive crest. This crest functions as a logo for the company and is typically displayed on all of its assets, including the farm, stables, and even the blankets worn by the racehorses.
Silks Horse Racing
After the Silks Avatar has been minted, it will automatically be linked to the player’s wallet. The Avatar and the racehorse must be associated with the same wallet to be eligible for prizes.
Members with an Avatar are granted access to various unique events, experiences, and prizes. The fact that Silks Avatar holders also receive a Lifetime Mint Pass is just another incredible perk of this tier. By doing so, each Avatar will earn the opportunity to mint one yearling from the annual harvest throughout their tenure as an Avatar. This perk will stand out and provide a sense of exclusivity to its customers as the number of players participating in the game increases.
They come in a variety of rarities and are considered to be NFTs in their own right. Currently, they have a total volume of 930 ETH, equivalent to $1,578. Their floor price is 0.139 ETH. It is an attractive proposition for anyone searching for inexpensive NFTs.
Silks Thoroughbred Racehorses
The Silks ecology can only function with the thoroughbred racehorses since they are its lifeblood. It will generate a digital clone of a real racehorse as soon as it is born and registered, and this will happen as fast as possible.
The game is more immersive for users by allowing them to earn money while also giving them ownership of a racehorse within the ecosystem. Pinhooking is an activity that takes place after a yearling is born and before it competes in its first race. It allows players to participate in this activity.
It also provides a syndication plan for its customers to use. The players are allowed to sell fractional interests in their racehorses so that the overall risk level associated with ownership of a racehorse can be reduced. It simplifies the process by which players can sell their partnership shares in the racehorse to a maximum of nine other individuals.
When one racehorse is syndicated, it creates ten different assets from that one racehorse.
If a player purchases the syndicated version of the horse, that player will have the opportunity to share in the prizes that the horse earns on a proportional basis. People can own racehorses alongside their friends and relatives, which fosters a sense of community in addition to making the activity slightly more accessible financially and presenting a lower level of danger.
In the ecology of the Silks, 202,500 different plots of land are one acre in size, and they are just as vital as the horses. Land development entails the construction of farms, the improvement of surrounding fields, and even the possibility of expanding farms onto adjacent tracts.
The Sky Falls Genesis Parcels are a one-of-a-kind method to own a piece of land within the ecosystem. These parcels were created by capitalizing on the Silks Lands. One integrated stable is included with each acre of land purchased in the Sky Falls development.
This Stable can stable one racehorse on every acre of land that it occupies. The fees that the owners of Sky Falls Genesis would have incurred to begin their farms are so avoided. The ownership of a Land in Sky Falls comes with several perks that can be redeemed for various items.
The racehorses and any other animals used for farming will need stables. Players can work on the aesthetics and attributes of their stables, and those changes will be visible to other players. A cost must be paid to stabilize your horse, and it is based on the benefits you receive. If your horse wins, you will receive a set percentage of the winnings “in kind,” which means they will be applied to your account. On the other hand, there is no financial obligation if the racehorse has yet to earn its keep.
Many people supplement their income by renting out their stables. When a racehorse stable is present, it indicates that there are multiple horses there. Therefore, whenever any other racehorse from the stable wins, you will also receive a communal prize with those horses. This will allow you to share in the collective success of the stable. When someone is purchasing or selling their racehorses, this topic takes on a new level of intrigue.
Farms in the Silks metaverse are both one-of-a-kind and incredibly flexible. It may be a general farm, or it may even be a breeding farm, and it may also have its marketplace where horses are featured. The racehorses are available for purchase or bidding directly from the farm owners to the other players.
Private and public farms are the two primary categories of land holdings in the United States. Stabling racehorses on a private farm is something that can only be done with the permission of the farm’s owner. On the other hand, everything is open to the public on a public farm, which means that owners of racehorses can file a request for their horses to be stabled on the farm.
When a racehorse wins racing or breeding rewards, the owners of The Public farm might agree on a charge and divide the rewards among themselves.
How to buy Silks NFTs?
How to buy Silks NFTs? The game is even more intriguing because there are numerous ways to participate and gain rewards or income.
- Open a cryptocurrency wallet: Establish a cryptocurrency wallet compatible with the Ethereum NFT standard (ERC-721). We suggest using either the MetaMask or Trust Wallet cryptocurrency wallets.
- Acquire ETH: Purchase Ethereum (ETH) from a broker or exchange that has a good reputation. Another option available to investors is to make their purchases of Avatars through Venly using a credit or debit card.
- Link Wallet to Silks’ Website: Visit the game’s website and look for the button labeled “Buy Avatars.” Click the “Buy with ETH” button on the following page, and then follow the on-screen instructions to link a cryptocurrency wallet.
- Buy Silks Avatars: In the final process step, select the number of avatars you wish to purchase, and then click the “Buy” button to complete the deal.
Silks is one of the most current projects that has helped define a genre of NFTs. It offers enormous conveniences and upsides for aficionados and players alike, which makes it one of the greatest NFTs to invest in.
As the P2E games and the metaverse work together to produce one-of-a-kind gaming experiences and make the transition between them seamless, incorporating a real-world game such as horse racing is genuinely innovative.
In addition, the large amount of data derived from actual occurrences in the world is one aspect that lends an air of authenticity to this video game. It possesses the proper utility, which promises not only spectacular short-term profits but also a sustainable way of keeping the gains flowing and how they can be increased over the years.
This makes it an attractive investment opportunity. Land ownership was one of the earliest examples of how the metaverse may be used, and it has done an excellent job of incorporating it into this game. It provides users and players who are interested in entering the world of horse racing with an option that is not only economical but also intelligent and effective.
The use of cryptocurrency in gaming is at the front of an ongoing economic and digital revolution. At Lunar Sky Games, we are a team of gaming product consultants with over ten years of expertise in the industry. We partner with web3 companies to help them build and grow their products. We help turn your vision into a reality. Contact us now for a consultation.