The derivative metaverse Silks recently kicked off the 2022 Genesis Yearlings Sale to great enthusiasm. The NFTs are selling quickly, as holders look forward to the rewards they will gain. For starters, Silks Thoroughbred Racehorses earn rewards whenever their real-world counterparts win races or produce offspring. They are expected to become some of the most valuable NFTs in 2023 as the current group of yearlings starts racing.
Here’s a detailed step-by-step guide to buying Silks Thoroughbred Racehorses.
How to Buy Silks Thoroughbred Racehorses – Quick Steps
- STEP 1 – Create a crypto wallet: We recommend MetaMask or Trust Wallet for a better user experience. You can use any credible wallet that supports the ERC-721 standard, however.
- STEP 2 – Buy Silks Genesis Avatar: You need Silks Genesis Avatar to buy Silks Thoroughbred Racehorse. Click here to find out how to buy Silks Genesis Avatars. Or, you can opt for a Silks Starter Pack that gets you a Genesis Silks Avatar and a Delivery Pass (for an unrevealed Series 1 Silks Racehorse) at $1000.
- STEP 3: Buy Ethereum: The 2022 Genesis Yearlings Mint supports purchases in ETH. Make sure you have enough ETH to cover the cost of the NFTs and the gas fees.
- STEP 4: Connect wallet to Silks: Go to silks.io and click [BUY NOW] under Silks Racehorses. Follow the on-screen instruction to connect your wallet to the new page.
- STEP 5: Buy Silks Thoroughbred Racehorses: Enter the amount of Silks Thoroughbred Racehorses you wish to purchase, confirm the transaction, and complete the payment.
Cryptoassets are a highly volatile unregulated investment product.
What are Silks Thoroughbred Racehorse NFTs?
Silks thoroughbred racehorses are unique digital collectibles that mirror real-world thoroughbred racehorses on the blockchain. Silks, the first-of-its-kind derivative metaverse, launches a Silks Horse when a real horse is born and registered as a thoroughbred racehorse in the United States. In essence, they are the digital clones of thoroughbred racehorses.
The tokenization allows the collectibles to track the lineage, physical traits, development, productivity, and life events of their counterparts. The 2022 Genesis Yearlings represent real thoroughbred racehorses that were sold in some of the most reputed auctions in the world. Yearlings refer to young horses that haven’t begun racing yet, but show great strength and talent. Silks Horses will mature in the metaverse along with the underlying IRL horses.
You need to hold a Silks Genesis Avatar to be eligible to mint the 2022 Genesis Yearlings, which are now available at $750. Each comes with a Delivery Pass for annual yearlings mints. You can use them to buy a random Silks Horse NFT from the season’s yearling collection.
Why Buy Silks Thoroughbred Racehorse NFTs?
Here are the key reasons why investors, play-to-earn users, and thoroughbred fans are stocking up on Silks Thoroughbred Racehorse NFTs.
1. Win before your horse races
There is usually high market volatility for yearlings that haven’t started their race yet. A robust market of bloodstock traders buys and sells racehorses during this period to capitalize on this volatility. The activity, called pinhooking, is popular in real-world markets.
Being a thoroughbred-inspired metaverse, Silks hosts pinhooking too. Your Silks Thoroughbred Yearlings will experience high demand before their first races which will begin as early as 2023. To make the most of the price hike, it’s a good idea to stock up on Silks racehorses during their mint stage and sell them for better prices on secondary marketplaces like OpenSea.
Silks track all available public data related to the development and productivity of every racehorse on the blockchain. It allows anybody to track and study this information to participate in pinhooking in the Game of Silks. The volatility of Silks Yearlings is expected to mirror their real-world counterparts. As a result, the collection has become a rage among thoroughbred fans.
Thoroughbred horse racing, despite its large fan base, is not open to all for investments. They sell for a fortune! There lies the beauty of Silks Horses. Anybody can buy the NFTs for as low as $750 during the annual yearlings sale and earn returns when the underlying thoroughbred wins a race or breeds offspring.
Two horses to watch in Bob Hope Stakeshttps://t.co/GBz6wWL5iv
— Game of Silks (@gameofsilks) November 19, 2022
2. Win when another horse wins
Stabling refers to housing a racehorse on a farm. It allows you to share in the collective racing rewards of the other racehorses that share the same stable with your horse. When you stable a horse, you are signing up for a share of the potential earnings of the other horses stabled with it. It goes a long way in earning reliable returns from the Silks metaverse.
3. Win by sharing ownership with others
Form a micro-community of partners and distribute fractions of your horse to up to 9 other people. Syndication has two benefits. First, it allows you to diversify your horse collection. Second, it mitigates the risks attached to horse ownership.
It goes without saying that thoroughbred racehorse ownership comes with a certain degree of risk. You never know if the underlying racehorse is going to win a race. You never know if it’s going to breed offspring. And you never know if it gets injured or dies young. So, it’s always best to diversify your collection and offset the risk. How do you do that without spending a fortune? Syndication is the answer. It improves the profitability of thoroughbred racehorse ownership in the long run.
How Many Silks Thoroughbred Racehorses Are There?
There are up to 10,000 yearlings in the ongoing 2022 Genesis Yearling mint. A large share of the underlying thoroughbred racehorses has already been sold in verifiable public sales. It includes those sold by the top auction houses around the world.
The Silks Thoroughbred Racehorse catalog will be updated, and more yearlings will be added to the collection as new yearlings enter the market this year. You can keep track of them by joining the Silks community on Twitter. If you reveal your horse before the catalog update, you will be randomly assigned a horse from the then-current catalog of yearlings. You can find the catalog by heading to the ‘Silks Racehorses’ page and clicking [Silks 2022 Catalog].
“Four of these horses didn’t change hands after being entered in a public auction, raising the question of whether Game of Silks owners are placing too much emphasis on this single data point when evaluating yearlings.”https://t.co/YASa2haejV
— Game of Silks (@gameofsilks) November 16, 2022
Silks Thoroughbred Racehorses NFT Price
The Silks 2022 Genesis Yearling Mint is scheduled from 29 Sep 2022 to 31 Dec 2022. The Racehorses were available for a mint price of $500 from 29 Sep 2022 to 3 Oct 2022. You can now grab them for a mint price of $750 till 31 Dec 2022.
Silks offers a Starter Pack that gets you a Genesis Silks Avatar and a Delivery Pass (for an unrevealed Series 1 Silks Racehorse) at just $1000. Genesis Silks Avatars, on the other hand, are available for individual purchase at 0.25 ETH.
Silks Thoroughbred Racehorses NFT Price Prediction
The derivative makeup of Silks Thoroughbred Racehorses underpinned by blockchain gives them high growth potential in 2023 and beyond. As the yearlings begin racing, the price can go anywhere from $3000 to $10,000 depending on the performance of the underlying horse. Another important factor that can boost the value of the token is the play-to-earn ecosystem building on Silks, which will operate gamified businesses centered around Silks Horses.
The first set of 5000 Genesis Silks Avatars was sold out ahead of schedule in a presale that saw wide traction from the crypto and non-crypto communities. The project had to launch 5000 more to cater to the growing demand and make the Game of Silks accessible to more users. Silks Avatar represents your identity in the Silks metaverse. Soon, the collection went on to become one of the top Sports NFTs on OpenSea, despite the general market downturns. If that’s any sign, Silks Thoroughbred Racehorse owners have more returns awaiting them.
How to Buy Silks Thoroughbred Racehorses – Detailed Guide
Step 1 – Set up a crypto wallet
You need a crypto wallet to buy and store Silks Thoroughbred Racehorses. If you are new to crypto and haven’t set up one already, download a crypto wallet that supports the Ethereum NFT standard (ERC-721). We recommend Metamask for its excellent user experience and hassle-free integration.
Don’t forget to note down the seed phrase somewhere safe and hidden when setting up the wallet. You’ll need it to access your funds in case you lose your wallet or device.
Step 2 (Optional) – Buy a Genesis Silks Avatar NFT
As mentioned above, you need a Silks Avatar NFT to participate in the ongoing 2022 Genesis Yearling mint. You can mint them for 0.25 ETH each from the official website if the collection hasn’t sold out already. Click here to find out how to mint Silks Genesis Avatars.
Or, you can purchase one second-hand from a secondary marketplace like OpenSea. Silks also offers a Starter Pack that comes with a common Genesis Avatar and a Delivery Pass (for an unrevealed Series 1 racehorse) at $1000.
SILKS STARTER PACK 🐎 Coming this Black Friday Weekend! pic.twitter.com/4QXxIIyNPT
— Game of Silks (@gameofsilks) November 23, 2022
Step 3 – Buy Ethereum (ETH)
2022 Genesis Yearling mint supports Ethereum (ETH) for transactions. So, fund your wallet with adequate ETH before you proceed with the purchase. You can get ETH from any credible centralized or decentralized cryptocurrency exchange using crypto or fiat currencies. Make sure you have enough ETH to cover the cost of Silks Thoroughbred Racehorses as well as the gas fees. The funds should be credited to the crypto wallet you’re going to connect to the 2022 Genesis Yearling mint page.
Cryptoassets are a highly volatile unregulated investment product.
Step 4 – Connect wallet to the Silks website
Once the wallet and funds are ready, head to the ‘Silks Racehorses’ page and click [Buy Now]. You will be asked to connect your wallet to the page. Follow the on-screen instructions and sign in to the page using your wallet.
Step 5 – Buy Silks thoroughbred racehorses
You can buy Silks Thoroughbred Racehorse using ETH or Card. If you already have ETH in your wallet, click [Buy with ETH]. If you don’t, the platform gives the option to buy ETH directly using your credit or debit card via Venly.
You can either buy the Starter Pack, or an individual Silks Thoroughbred Racehorse if you already have a Genesis Silks Avatar. Enter the number of Silks Thoroughbred Racehorses you wish to purchase (there is no upper limit), confirm the transaction, and make the payment.
The Silks Racehorses (and the Delivery Pass for unrevealed Series 1 racehorses, in case you opted for the Starter Pack) will be transferred to the crypto wallet that was linked to the page.
How to Buy Silks Thoroughbred Racehorses – Conclusion
This guide took you through a step-by-step guide to investing in Silks Thoroughbred Racehorses. It is one of the best NFT collections to buy in 2022 due to its high collectible value, derivative rewards, and play-to-earn utilities.
A Silks Starter Pack comes with a common Genesis Avatar and a Delivery Pass (for an unrevealed Series 1 racehorse). It is priced at $1000. You can also mint a Genesis Silks Avatar and a Racehorse separately for 0.25 ETH and $750, respectively.
