Silks Thoroughbred Racehorses

Silks Thoroughbred Racehorse NFT

Mirroring The Real World

Silks thoroughbred racehorses are central to the Silks metaverse. When a real racehorse is born and registered as a thoroughbred racehorse in the United States, Silks will create a “digital clone” of the racehorse. This digital clone will track the lineage, physical traits, development, productivity, and life events of its counterpart in the real world.

Pinhooking

After a yearling is sold, but prior to its first race, there may be significant volatility in the value of the horse. There is a robust market of bloodstock traders that buy and sell racehorses during this period to capitalize on this volatility. This activity is referred to as pinhooking. The Silks metaverse will track all available public data relating to the development and productivity of every racehorse in Silks and make the information available to everyone playing Game of Silks. This will empower community members who want to track and study this information to participate in pinhooking in Game of Silks.

Syndication

Owning thoroughbred racehorses involves a significant degree of risk. To offset this risk, you may choose to syndicate your horse by selling fractional interests in it. Silks makes it easy for you to sell Partnership shares in your racehorse to as many as nine other individuals.

When syndicating a racehorse it is converted from a single asset to ten assets, each representing a ten percent fractional interest in the racehorse. The person who holds the Governance token will control all the decisions pertaining to a racehorse, including which farm it resides in.

By owning one of the syndication tokens of a horse, you will have the right to participate on a pro-rata basis in any rewards earned by the racehorse if it wins, races, or breeds. Sharing racehorse ownership with your friends, family, and community will serve to create an engaging and meaningful social experience by playing the Game of Silks.

The owners of both the Governance and Partnership tokens are required to own Silks avatars to receive rewards.

When syndicating a racehorse, it will result in the horse getting ‘wrapped’ in the Racehorse contract, and a new Governance token and nine new Partnership tokens get minted. Both types of tokens are freely tradeable on the secondary market.

A syndicated racehorse can only be reconstituted if all 10 syndication tokens are in the same wallet.

Annual Yearling Sale

Yearlings are sold at auction in the real world for large sums of money, allowing the wealthiest buyers the advantage of owning the horses with the greatest prospects. Silks democratizes thoroughbred racehorse ownership by lowering the cost of entry for ownership and reducing the advantage a player with large sums of money might enjoy. The core mechanic in Silks that creates this opportunity is the annual sale of unrevealed yearlings. Using this format everyone has the same chance of minting a championship horse. All that is required is owning a Silks Genesis Avatar.

Each Genesis Avatar Holder is eligible to mint one unrevealed yearling from the 2022 Genesis Yearling Mint until 11:59 PM EST December 31st, 2022.

The 2022 Genesis Yearling Mint begins September 29th, 2022 at a price of $500 USD and will continue until 11:59 PM EST October 2nd, 2022. The price will then increase to $750 USD until 11:59 PM EST on December 31st, 2022.