MetaHorse has announced the launch of its horse-racing based metaverse game built on blockchain technology, nonfungible tokens (NFT) and GameFi that enables players to enjoy horse racing on a whole new level. MetaHorse gamifies horse racing by allowing users to virtually breed, train, compete and bet against horses they own in a metaverse, allowing them to enjoy a virtual experience and the fun of horse racing.
The platform combines blockchain, play to earn and GameFi to create a gamified ecosystem for horses. It integrates a variety of gaming elements, such as education and simulation games, PVE stand-alone games and PVP games, etc, powered by a blockchain based token.
MetaHorse — A multi-billion dollar market
Horse racing is an equestrian sport that has existed for many centuries. It has been popular since the two-wheel chariot race in Roman times. With millions of spectators worldwide, the horse racing industry has maintained its popularity for centuries. Now a multi-billion-dollar market, this sporting event shows no signs of slowing down.
The global Horse Racing Market size was valued at $300 billion in 2019 and is expected to grow significantly over the next decade. The analysts have been monitoring the horse and sports betting market and it is poised to grow by $ 139.52 billion during 2020-2024 progressing at a CAGR of 9% during the forecast period. As far as Japan is concerned, it has more than 20 large-scale horse racing courses with 100000 people, holding more than 15000 races every year. In addition to the admiration of chivalry in the race, gambling also allows more people to participate, making horse racing active among civilians.
How does the gameplay work in MetaHorse?
MetaHorse will integrate horse racing culture into the concept of metaverse so that everyone can become a proud horse owner while also having the opportunity to tokenize the ownership via NFTs, which can be further used within the metaverse. To participate in the gameplay, a user needs to own a horse acquired by purchasing an NFT. Once you have the NFT, you can breed it, train it, and by the time it has grown and matured enough, you can bet against it in the metaverse. Also, as the NFT represents ownership of the underlying horse, it can be traded within the marketplace. Thus, from breeding to competition, MetaHorse creates a comprehensive and realistic horse racing chain game based on real horse racing.
Getting started with MetaHorse
To start, players can use the governance token, i.e., MHC, to purchase a blind box which is further used to get horse NFTs and then enter the game. They can receive game tokens by training three to eight times a day according to different levels of horse NFT. Game tokens can be used to improve the status of horse NFT, or they can be converted into a second token – sMHC to participate in PVP horse racing.
Play to Earn in a closed cycle
Earning rewards in MetaHorse is as easy as raising a pet. Once you have got the MHC Token which can be acquired via private sale or the Initial Dex Offering, you can obtain the NFT box to collect a Horse NFT that is further useable in the gameplay. A visual overview of the working of the closed cycle in which a user can earn rewards is given below.
The NFT sale is opening by April 2022, details of which can be found in the website. Check out official website to acquire your horse and start creating lucrative rewards against bets in the horsing metaverse.