Web3 horse racing is coming to life thanks to Game of Silks, who has just hired a top iGaming exec as its CTO.
Former pro at DraftKings and Amazon Web Services executive, Srini Vasan, has joined Game of Silks as its Chief Technology Officer (CTO). Game of Silks aims to revolutionize blockchain gaming and provide a seamless in-game experience for users in the metaverse.
Vasan’s expertise will help build the backend tech stack for the platform. With experience at Amazon Web Services and DraftKings, where he spearheaded the development of their NFT marketplace, Vasan brings valuable insights to Game of Silks.
The potential of the metaverse market is substantial, projected to reach $13 trillion by 2030 with an estimated user base of five billion, as stated in a Citi report from March 2022. Vasan acknowledges the undeniable commercial potential of this space. Game of Silks encompasses various aspects that could shape the future of blockchain gaming, including the replication of real-world sports, sports betting, and innovative revenue sharing models involving professional athletes (or in this case, racehorses).
Vasan’s appointment as CTO aligns with the platform’s long-term vision of introducing thoroughbred horseracing to new audiences and demographics,
Web3 horse betting has gained traction, as evidenced by the successful Series A funding round of Zed Run, a virtual horse breeding and trading platform that raised $20 million in 2021. Game of Silks, built on the Ethereum blockchain, tokenizes and replicates each year’s professional racehorses as they are registered. Owners of the NFTs, called Silks Horses, are rewarded based on the performance and breeding success of their real-life counterparts.
Digital Horse Racing partnership with the New York Racing Association
Game of Silks recently partnered with the New York Racing Association, a major player in the horse racing industry with $2.3 billion in wagering revenue last year. Vasan’s appointment as CTO aligns with the platform’s long-term vision of introducing thoroughbred horseracing to new audiences and demographics, creating a significant impact on the sport similar to that of fantasy football.
With the horse racing industry losing traction compared to the likes of eSports, this would be a massive opportunity for the next generation of bettors to be involved in racing. With the rise of web3 sports betting and casinos, it is just a matter of time before a web3 horse betting product comes to the decentralized world.
a16z Crypto hires Google executive as VC operating partner
In related news, a16z crypto, a prominent venture capital firm, has added former Google executive Jason Rosenthal as its new operating partner. Rosenthal brings his experience as CEO of Ning and Lytro, as well as his tenure overseeing Google’s consumer-facing subscription services. This addition enhances a16z crypto’s operating team, enabling them to provide expertise in go-to-market strategies, recruiting, regulatory matters, and navigating critical obstacles that arise in startups.
The move will have a major impact on the venture capitalist’s bridge between the traditional and emerging investment spaces.
This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
