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Seoul, South Korea, Nov. 28, 2022 (GLOBE NEWSWIRE) — Blockchain technology is becoming increasingly popular, driven by development and innovation around Web3 and the metaverse. Despite being in its infancy, blockchain has already established itself as a significant component of the gambling industry. CryptoKitties was the first well-known blockchain game that allowed users to breed and create new NFT kitties that could later be sold on NFT markets. As a result of the introduction of NFTs into the gaming industry, a play-to-earn, or P2E, trend has emerged that encourages players to earn money while playing. In-game items, rewards, and settings can all be converted into NFTs by tokenizing them.
According to research by Infinity Business Insights and Bosson, the global play-to-earn NFT gaming market was estimated at approximately USD 75,500 million in 2021 and is expected to reach USD 291,720 million by 2028, showing a CAGR of 21.30% during the forecast. period. At least one sector of the digital asset market, blockchain-based P2E gaming, appears to be largely untouched by the slum that has gripped the overall cryptocurrency markets and continued to expand. Top prices for blockchain games like Axie Infinity have recently dropped in value, but user values have increased. Similarly, Derby Stars, a metaverse horse racing game on the Polygon blockchain, has steadily completed its roadmap goals and expanded its operations this crypto winter. At the time of writing, the project has a minimum price of 0.14 ETH and has achieved a total trading volume of 122 ETH on OpenSea and 45,000 Matic on the OnePlanetNFT market.
Launched in 2021, the Derby Stars project was incubated by a South Korean company in collaboration with Hashed Studios. The project has more than 30 members located in different countries such as South Korea, the United States and India. The company raised its first seed round co-led by Patron and Galaxy Interactive, as well as successful backer Hashed Studio and many others. A full list of investors can be found on the official Derby Stars website.
Derby Stars’ in-game training system allows players to grow, breed and build their horses with different attributes, skills and abilities over a long period of time while competing against other players. Players can earn Utility Tokens ($CRT) and Government Tokens ($RUN) through a variety of in-game activities. Some examples of Derby Stars’ winning game mechanics include:
- Monetizing Horse Training.
- Monetization by participating in different tournament races.
- Get new foal NFTs by breeding.
- Monetizing the Stallion’s Role in Reproduction.
- Get common and rare horses through breeding and sell them on the market.
- Lend your horses to other players and share the profits from the horse’s activities.
In-game, the acquisition of all in-game assets begins with the horses – Derby Stars’ collection of non-fungible assets. Players can earn $RUN (Government Tokens) by participating in player vs player (PvP) racing tournaments using their horses or earn $CRT by participating in training programs. $RUN tokens earned by players are used for spawning and crafting. All $RUN tokens used in the game are collected into a reward pool which is later returned to Derby Stars players as rewards for various games and events. On the other hand, players earn $CRT (utility tokens) through training. These tokens can be used for multiple systems in the game and are burned immediately after use. Players can also use $CRT to purchase new horses and items through breeding or crafting. Finally, Derby Stars has a horse release system that allows players to burn their digital horses (ie burn NFT tokens) in exchange for other high-quality goods that can be used in PvP races and training, along with the chance to acquire rare horses. . These combustion mechanisms allow the Derby team to control the swelling and maintain the value of the horses. The illustration below explains how to play Derby Stars:
Derby Stars has a vision to be more than just a conventional AAA horse racing game. Therefore, the team is actively building its Metaverse infrastructures to further improve the P2E model and the value it provides to players. The team aims to create a complete ecosystem for all players to enjoy, engage and benefit from this metaverse integration. The Derby Stars team is actively using its resources to expand the internal team and organize new partnerships within the blockchain ecosystem. The company has a very impressive roadmap that includes token generation, avatar customization, horse rental, $RUN staking, and metaverse land sales. The project continuously expands its operations, engages in innovative development and expands the community to make continuous progress towards the roadmap goals. Derby Stars is at the cornerstone of disruption and is poised to radically transform both the digital horse racing industry and the way P2E games are developed and consumed.
Jisu Jung Head of Business Derby Stars contact (at) derbystars.com
Source: Derby Stars