The First GameFi Project Bringing the Oldest Sport to the Virtual World: MetaRace Breaks Through NFT Virtual Barriers

Place/Date: Singapore - June 21st, 2022 at 1:20 pm UTC · 4 min read
Source: MetaRace

The First GameFi Project Bringing the Oldest Sport to the Virtual World: MetaRace Breaks Through NFT Virtual Barriers

MetaRace has awakened blockchain technology with its unique play-to-earn features, altogether changing the experience of “exchanging time and money for pleasure” in traditional games.

While many games claim to have a “benefit” feature for players, most are short-lived as many projects seem to fall short in both the “play” and “earn” elements. Often, game projects focus more of their energy into the game’s economic design as these for-profit games want to bind users with “earn” potential, but the result is the ignored interactive, fun elements of game “play”. Following this trend, soon enough users lose interest and retention hits rock bottom.

This cycle made us wonder: is there a game project on the market that can balance the two aspects of “play” and “earn” to create a true GameFi?

MetaRace is a competitive chain game project of “NFT+GameFi+Metaverse” built on the Caduceus Metaverse Protocol blockchain. It uses NFT mechanical horse racing as the entry point and aims to build a substantial competitive metaverse with many vital real-world elements of horse racing to create the most realistic experience for players. In addition, unlike other P2E chain games, all community members who own MetaRace NFTs and tokens will have the opportunity to hold a percentage ownership of MetaRace, the game’s first community racehorse.

With the two-year-old colt, the MetaRace team have made history with the first horse to be fractionalized into NFTs and to race competitively, bringing together “play” and “earn” in an entirely new way.

In recent Sky Sports reports and other sports media outlets, the Royal Windsor Races in the UK saw the horse, MetaRace, garner extensive attention from both horse racing and chain game enthusiasts. The young and handsome colt is currently professionally trained by MetaRace partner and Whatcombe Racing Champion Trainer, Oliver Cole.

MetaRace Head of Community said: “This is a huge milestone in the development of MetaRace! Even though some of the community are not typically horse racing fans, all are very excited to be able to part-own a real-life racehorse and see the race. It’s a different and fun experience for everyone.”

The First GameFi Project Bringing the Oldest Sport to the Virtual World: MetaRace Breaks Through NFT Virtual Barriers

2-year-old racehorse “MetaRace”

Sensory experiences that can’t be easily obtained due to geographical conditions, economics, laws and various physical reasons can be easily realized in the metaverse, and when fully integrated, it has a greater appeal to all users.

In this way, the combination of GameFi and real experience is the way forward and MetaRace is a good example of this. In MetaRace Horse Racing, players start competitive games, socialize through NFTs, and earn income through racing or trading. At the same time, NFT holders can participate in the experience of breeding and host races on their own race courses – yet another way to earn.

MetaRace – the game and the real-life racehorse – provide the chance to see how the way of virtual NFT + real experience and economy is feasible for the development of GameFi. While being the digital twin of horse racing, the game enhances the overall practical value of NFTs as it breaks through value barriers between the real and virtual worlds, creating an entirely new metaverse game experience.

The MetaRace team will soon be ushering in the NFT sale and the official release of the game after a year of development.

In the short term, the metaverse seems difficult to achieve, but in the long run, chain game projects with more intrinsic value will become key to entering the metaverse.

MetaRace, with “Virtual + Reality” and “Economy + Experience”, will push us closer to this metaverse world.

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