The Tribes


Main Hall - June 24, 2022

SILKS NFT Collection

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Our pick for the best NFT to invest in this year is Silks, a pioneering play-to-earn (P2E) game hosted on the Ethereum blockchain. The game itself involves a rich metaverse, in which players can purchase avatars and take part in exciting gameplay elements. Silks’ gameplay is entirely based on the real world of thoroughbred horse racing, which forms the foundation of how players can monetize their in-game activities.

Players can own digital Silks horses within the Silks world, which are structured as NFTs. However, Silks takes this one step further by ensuring that each Silks horse is directly linked to a real-world thoroughbred racehorse. This 1-to-1 link is achieved by using vast datasets on elements such as the horse’s lineage, training progress, and racing productivity.

As detailed in the Silks whitepaper, Silks horse ownership provides a way for players to generate income within the Silks metaverse. Players earn rewards when their Silks horse’s real-life counterpart wins a race, with these rewards being distributed in $STT – Silks’ native transactional token. In addition to racing rewards, Silks horse owners can also generate income through staking, breeding, and pinhooking – a horse racing industry term that refers to the act of buying and selling an unraced horse at a profit using data and speculative knowledge to determine its value.

Alongside owning horses, Silks players will also have the ability to purchase plots of virtual land, which are structured as NFTs. Due to the link between the Silks metaverse and the real world of thoroughbred horse racing, Silks players will have to house and maintain their digital horse, much like in real life. Virtual land plays a crucial role in this, as it allows owners to construct stables and horse farms where they can store their horses.

Finally, the Silks metaverse has been designed with long-term sustainability in mind, as new yearlings (1-year-old thoroughbred horses) will be minted and available to purchase through the Silks platform each year. Minting will occur in tandem with yearling auctions, ensuring each horse within the metaverse is linked to an actual racehorse. Ultimately, this will allow Silks’ autonomous marketplace to thrive in the long term while providing avenues for players to benefit from speculation and value increases.