We live in a digitalized world dictated by technological advancements, and in the past few years, we’ve seen some major changes in the industry thanks to Blockchain technology. Blockchain technology led to the birth of cryptocurrencies, and digitalized images and videos called NFTs.
The idea of owning the rights to digitalized content caught very well among people, which is why the NFT industry grew to a billion-dollar market. Over a course of a year, some NFTs shot up in value reaching even seven figures for a single jpeg image.
NFTs open up many opportunities, especially in the world of sports, and allow sports enthusiasts to connect with their favorite sports even more.
In today’s article, we will talk about a new NFT platform that will excite horse racing enthusiasts and will allow them to own digital images, which will bring many privileges to them in real-world events.
What is StableDuel NFT Platform?
The tech-forward organization at StableDuel, an everyday multi-race contest for stay horse racing, and Vivid Labs, a full-service NFT generation and strategy provider, are partnering to introduce Capallix, an progressive platform presenting NFTs from the arena of horse racing.
The multi-media, updateable keepsakes represent the subsequent era of the NFT enterprise and bring fans closer to the game in a unique and unheard-of manner.
This is a very unique combination of organizations that will create a special horse NFT marketplace, that will open up many new opportunities for the sport on a global scale.
At release, the platform will be focused on a breeding/racing token this is particular to each horse and lets unique multimedia content be updated to the NFT holder for each horse. The experience part of the breeding and racing tokens will grant the holder entry to particular exclusive horse racing events (workouts, paddock visits, winners circle snapshots).
This will bring lovers in the direction of the game in unique approaches and provide proprietors, running shoes, and jockeys with direct monetization opportunities.
Certified breeder’s tokens can be specific tokens issued in affiliation with the birth of outstanding foals. The platform will companion with tracks, trainers, and jockeys to provide precise content. So you can have an NFT of one of the competitors in the Breeders’ Cup entries and odds by TwinSpires.
Partnerships Between Capallix and Vivid Labs
Vivid Labs is a next-generation NFT publishing platform that permits everybody to create, manage, and promote NFTs containing a couple of media files and codecs. Compatible across all foremost blockchains, Vivid Labs gives superior NFT+ features, the platform’s innovative solution that transforms simple NFTs into programmable multimedia stories which are multi-layout, multi-asset, permissioned, updateable, and resilient.
Through NFT+, Capallix NFTs can be up to date frequently, with new content material brought in the course of the life of the NFT.
The partnership between Capallix and Vivid Labs takes horse-racing NFTs to the highest level. Through Vivid’s multimedia skills and Capallix access, NFT customers get hold of unparalleled perception into the lives of racehorses, horse proprietors, trainers, jockeys, lovers, bettors, and the racing enterprise.
What Does This Mean for Horse racing?
The leap toward NFT and blockchain technology is a step in the right direction for the sport. Horse racing is one of the oldest sports in the world that is still not present on every continent on the same scale.
This means that horse racing shows signs that it can grow much bigger as a sport, and NFTs and the ability for the public to get involved in the sport, and own, trade, breed and earn money from NFTs will only make horse racing more popular.
This partnership promises the next-generation NFT platform that will make the sport more available and unique. All of the features that we mentioned so far are very promising and we just have to wait and see whether or not they will pull it off.
Like it or not, this transition to blockchain technology can only bring benefits to horse racing.