DeRace Research
NFTs are something that I have had a lot of faith in for quite some time now
While I haven’t traded much in actual NFT assets (although I do own a few!) I own a business in a creative industry and for me the use case just makes instant sense
Many in the wider crypto community have been less positive but those I have spoken to who have experience in creative or gaming businesses have just understood the potential, no long explanations necessary
For this reason I have been building out a basket of NFT infrastructure tokens for the long term for quite some time now
While I expect that some will fail, I think the NFT market itself will do well enough to let my winners outperform over the long term
As we have seen recently with $AXS especially, NFT in gaming has been one area of the whole market that has decoupled to some degree (at least for now) from the bearish market sentiment we’ve been dealing with
And I believe we have not even scratched the surface when it comes to innovation in this subcategory of crypto
Aside from the fact that it is a Dao Maker vetted project, there are some key things that caught my attention and I thought were worth talking about
What is DeRace?
It is a virtual NFT horse racing universe based on blockchain technology and would be powered by the $DERC token
There’s a lot going on with it, so I will break it down
Imagine being able to combine 3 booming multi-billion-dollar markets, video gaming, gambling and horse racing into one
All three are currently worth around $700B
It’s easy to say “if it could only capture 1% of market share…”
Well yeah, it’s not as easy as that as we know
But it goes to show the markets are already huge, so they’re not launching into a new sector where they have to create the market themselves, they just have to divert some interest to do well
With the current rise of play to earn games in crypto, this seems reasonable
At first glance how they are going to achieve this might be confusing but it’s not really that complicated
Basically, all they will be doing is simulating real-life horse racing while giving players the “ultimate racing experience”
You get to own and trade NFT horses, breed them, participate in races, own a hippodrome (an ancient Greek stadium for horse racing and chariot racing) and host your own horse races, and even bet on winning horses in real time
It is the full experience of horse racing without the hassle of you would have to deal with in the real world to set it all up
The NFT horses are one-of-a-kind horses that differ in both traits (rarity, performance and cool-down time) and visual appearance
Although they aren’t live yet, you can register your interest in using the platform by just going to their website
Team behind DeRace
With so many crypto projects falling by the roadside due to lack of experience from the team, it’s always good to see an extensive team behind a project
The team have been able to pull in interest from a wide range of backers and advisors so far
More on the $DERC token
$DERC is currency in the DeRace world
Token price should be closely tied to the economic activities on the platform
We have seen projects do well in terms of traction but not have that success reflected in their token price as there is little or no incentives to buy or even hold these tokens, to the point where we start to wonder: Did this project even need to have a token at all?
This is unlikely to be one of those, as the success of the token is directly tied to the success of the platform
$DERC will be an ERC-20 token on the Ethereum blockchain.
Their raise, valuation and initial market cap are relatively low, which has been a commonality in most recent launches that have done well
The vesting schedule is straightforward
Although they will be launching with a small circulating supply, that will quickly change due to short vesting lock ups
Thoughts on the future of DeRace
This is a project I’m excited about for multiple reasons, some more obvious than others
If positioned properly, it could be a lucrative source of income i.e. you could host races in your stadium for a fee amongst other things, without even having to gamble
We have seen the rise of play to earn games in crypto in recent weeks and the trend doesn’t look like it is coming to an end
And with a fully packed roadmap ahead, the future for this project has a lot of potential
It is literally one huge undertaking after another for the foreseeable future
With the backing of their partners and Dao Maker, I think they have a reasonable chance of pulling it off
Where to buy $DERC?
I will be participating in a Private Round with Dao Maker
The $DERC public sale will be held on Dao Maker on the 26th of July, 2021 at 12:00 UTC
Want to be up to date on all things DeRace?
Twitter: https://twitter.com/deracenft
Telegram: https://t.me/DeRaceNFT
Website: https://www.derace.io/
