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Dreaded in the winter period, the crypto market has never been smooth sailing. The NFT purchased by YouTuber Logan Paul for over $600,000 last year is now worth barely 10 bucks.
NFTs are cool, but not all of them hold up to their value. Which ones stand strong? No one can tell. Users’ taste changes over time, which makes evaluating NFTs even harder.
But what if an NFT is tied to physical assets? Does it hold up to its value over time?
This is the concept behind Omnihorse, a web3 project valued upon privately-owned thoroughbred racehorses in the real world.
This is how they work: When an Omnihorse NFT is minted, the NFT is valued upon a physical racehorse. Each racehorse is rigorously rated, based on the stats, breeding, and performance. These horses are hand-picked by Amo Racing, top horse racing facility in Great Britain with 150-thoroughbred ownership.
Therefore, these NFTs are valued not upon the NFT users’ hype, but rather each thoroughbred’s own value. It does not fluctuate like a rollercoaster. As these thoroughbreds race over time, the NFTs will constantly appreciate over time.
Kia Joorabchian, Owner of Amo Racing, foresees his ownership of 2000 thoroughbreds in near future.
As Omnihorse’s NFT owners, they are also granted real-life benefits, from owner-like experience to VIP private box in major racing events around the globe.
Omnihorse is now releasing their major update, the horsepower mining program. Now Omnihorse users can stake their NFTs and start auto-mining. Later this year, whenever a real-life thoroughbred wins a race, the corresponding NFTs will accelerate to mine, earning more benefits for the NFT owners.
Minting these NFTs can prove to be more valuable to potential investors, as the horses go up in their ratings and value when they win more races in real life. Horses who later become stallions earn 5 digit breeding fees per incidence, accumulating to a 7-digit return annually.
The landscape of horse racing has been largely unchanged for a long time; the rich and elite profit off horse racing and everyone else is shut out. But Omnihorse is looking to disrupt this through the power of blockchain and web3, allowing more audiences to enter the industry with lowered barriers by NFT.
By creating clubs around thoroughbred horses and allowing users to invest via NFTs and their native token, more everyday people can gain access to this world. What’s more, they can profit from the sport without having to make the huge investment that horseracing would usually require. With this, we can expect to see significant changes to this age-old landscape.
Omnihorse has concluded the initial mints of 4 Private Jockey Clubs and currently has 7 other Private Jockey Clubs opened for minting. For more information, visit Omnihorse.io.