“We have a sports business that is radioactive in the best way.”
That was such a great way to explain the phenomenon, a growing one, of Virtual horseracing, NFT’s, gambling and blockchain that we talked about last week with Roman Tirone, the disruptive and engaging head of North American partnerships for Virtually Human Studios, owners and creators of Z?D RUN.
The conversation sheds some great light on to entrepreneurship, grit, vision and a business that is in its infancy but has grown greatly in just two years.
Some key things to listen for:
“We are the first breathing, yield baring #NFT, and the owners have ability to literally bring an offspring into the world, that’s a big part of the explosion in sports business for us.” No, while they are not actual horses, the DNA, the analytics, and the business in very much real, and the interest in that lifecycle of virtual horses has really driven the platform. No horse is the same, nor is breeding capability.
The excitement in the life path of the horse. There are three ways owners engage. Race, sell, breed. Just like in real horse racing, the ability to interact and grow a stable gives the opportunity to grow real legs (no pun intended).
Who is involved. The audience is 65% US based, mostly male 18-34. Sounds similar to both the gambling and the gaming audience, but the traditional high-end supporter of REAL horse racing is also a driver, and a growing audience. Right now, ZED has over 100,000 “unique wallets,” accounts that have been created on the Blockchain for people to buy in, wager and engage. There has been 10x growth in the business in the first half of 2020.
Can I use my card? No, not yet. Credit cards cannot gain you access. You must have accounts, and money, in Ethereum and have an understanding of blockchain. It is not yet the same as say the NFT business around NBA Topshot, but that is starting to change. One issue? Even without credit card use the demand is already outstripping supply.
Saving the “Sport of Kings.” While it’s unlikely you will go to a racing track on a Tuesday in the middle of America and find many engaged with Z?D RUN , the virtual world has opened the eyes to thousands of people who may have thought the sport of horse racing was dead. While there has not been huge crossover yet, one reason is the understanding and engagement of blockchain use is still very much a younger, tech savvy person’s game, the engagement is growing as is the affinity for the excitement of racing.
Brand involvement. Tirone recently brought Stella Artois in for a partnership, which included skins in the race, signage that looks and feel traditional, and can scale up to include promotions and a connection with a nontraditional sporting community. That is the value, and the opportunity, for brands that are doing toe dips into the non-traditional to see, like in gaming or esports, what an ROI can look and feel like.
The door opener for reimagined virtual sports. Since a great deal of the interest and the realism is tied to data and analytics, the idea to recreate any type of sport in a virtual world exists for down the road expansion. It ties into the premise of what is done in fantasy sports, only on a much deeper level. Ironically it is the two sports that dominated the landscape for decades in the 1900’s, horse racing and boxing, where the business can grow from, with horse racing leading the charge so far.
You can hear the entire podcast here and learn more about Z?D RUN here.
It’s now pastime in yet another emerging business.
