NEW YORK (NYTIMES) – The Kentucky Derby may be the best-known stakes race in the equestrian world, but it is hardly the only one.
On Zed Run, a digital horse racing platform, several such events take place every hour, seven days a week. Owners pay modest entry fees – usually between US$2 (S$2.60) and US$15 – to run their steeds against others for prize money.
The horses in these online races are non-fungible tokens (NFTs), meaning they exist only as digital assets. You cannot pet them or feed them carrots by hand. You cannot sit in the stands sipping mint juleps while they sprint by.
But, unlike the vast majority of NFTs – which correspond to GIFs, images and videos that can be kept as collectibles or sold for profit – each digital horse constitutes what Zed Run’s creators call a “breathing NFT”.
“A breathing NFT is one that has its own unique DNA,” said Mr Roman Tirone, head of partnerships at Virtually Human, the Australian studio that created Zed…