Game of Silks Secures $5M to Build the Future of Web3 Fantasy Horse Racing
Game of Silks has successfully closed a $5 million funding round, enhancing its position in the realm of web3 gaming and thoroughbred horse racing.
With investments coming into Game of Silks, a famous web3 game platform, virtual horse racing has reached new heights. The startup recently finished its Series Seed 2 fundraising round, raising $5 million from investors. This accomplishment raises their funding above the $10 million mark.
Role of NFTs
Platforms like Sorare have successfully combined NFT technology with fantasy sports attracting funds and striking deals with renowned sports leagues. Inspired by this trend experts in the horse racing industry are now looking to leverage NFTs as a means to revitalize and modernize their time-honored sport.
Dan Nissanoff, Co-Founder and CEO of Silks expressed his perspective on the funding round highlighting the vision behind it. He emphasized that this milestone represents more than a commitment; it symbolizes their unwavering dedication to transforming the "sport of kings" and restoring it to its former glory as the largest spectator sport in the United States.
Game of Silks recently partnered with big names like NYRA, NYRA BETS, and FOX Sports' Americas Best Racing. They also teamed up with The Jockey Club, a group that's been in horse racing since 1894. These new partnerships could help modernize horse racing and digital games. They offer fresh ways for an industry that's facing challenges.
Duncan Taylor, representing Taylor Made, expressed, "Game of Silks goes beyond being a game; it serves as a platform that is shaping the future of horse racing."
Fan Engagement Experience
Game of Silks is changing how fans interact with horse racing. The platform provides fans with a perspective. That of an owner. It replicates the real-world experience of owning thoroughbreds by allowing players to accumulate assets that mirror the careers of racehorses. These assets offer rewards when their real-life counterparts achieve success on the racetrack or make breeding contributions.
Lloyd Purser, from FunFair Ventures, emphasized this approach by stating, “Game of Silks stands out as a captivating example of utilizing web3 technology within web3 gaming.”.