Why is Utility Important for NFTs and Why Silks is Raising the Bar
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Silks is primed to become one of the best NFT collections on the market when its collection of Horses hits the market on September 29.
The project offers varied utility and real-world earning potential that should ensure long-term growth sets it apart from a lot of NFT collections that have limited use cases.
Silks has been rated a top 50 listing by leading NFT market analysis site Nansen and was featured in CoinTelegraph after raising $2 million in seed funding earlier this year.
Silks is a horse racing-based NFT game that combines play-to-earn mechanics with digital horse and land ownership, and horse breeding.
The game is unique because it has an exciting real-life crossover -when a horse is born and registered as a thoroughbred racehorse in the US, a digital version will be minted as an NFT.
The horses are linked with their digital counterparts, tracking lineage, physical traits and development of the horse. When a horse wins a real race, the digital owner is rewarded with the native crypto token, STT, in the game.
The project also has a partnership with a thoroughbred training facility in Kentucky, Circle 8 Ranch, and breeders Tropical Racing through owner Troy Levy, a co-founder of Silks.
Despite the crypto bear market affecting many projects - especially NFTs - in 2022, Silks is building one of the best play-to-earn games in an area that is usually recession and inflation proof.
Horse racing remains largely unmoved by wider economic conditions and in fact is said to be worth hundreds of billions of dollars annually around the globe.
The project sold out of Silks Racing Avatars on
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