By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
  • HOME
  • NEWS
    • LATEST NFT NEWS
    • BITCOIN NEWS
    • ETHEREUM NEWS
    • BLOCKCHAIN NEWS
    • ALTCOINS NEWS
  • NFT Collection
    • RARITY TOOL BY NFTStudio24
    • UP Coming NFT
    • NFT EXPLORE
  • NFT STORIES
  • PRESS RELEASE
Search
  • About us
  • Advertise with us
  • Contact us
© 2022 NFTStudio24.com News Network. All Rights Reserved.
Reading: Silks avatars are here: NFTs to access the best metaverse of 2022
Share
Sign In
0

No products in the cart.

Notification Show More
Latest News
STRMNFT Marketplace, STRMNFT, nft marketplace, nft
STRMNFT: The Next-Gen Video NFT Marketplace
June 20, 2022
Anna Sorokin, Anna Sorokin scam, Anna Sorokin story, Anna Sorokin interview, Anna Sorokin nft, Anna Sorokin nft scam, Anna Sorokin scammer persona, scammer persona
Con-artist Anna Sorokin launches NFTs to move on from her “scammer persona”
June 20, 2022
TAG Heuer watches,TAG Heuer, TAG Heuer NFT, TAG Heuer NFT watches, nft
TAG Heuer introduces NFT feature on smartwatches: the new badge of honor?
June 20, 2022
metamask, metamask wallet, crypto, crypto wallet, metamask crypto wallet
MetaMask awards Halborn for recognizing security vulnerabilities in old versions
June 19, 2022
liquidate, Celsius liquidate, Celsius Network, Celsius, Celsius Network halt services, Babel Finance, Babel Finance Network halt services, Three Arrows Capital, crypto, crypto cash
FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals
June 19, 2022
Aa
NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
Aa
Search
  • HOME
  • NEWS
    • LATEST NFT NEWS
    • BITCOIN NEWS
    • ETHEREUM NEWS
    • BLOCKCHAIN NEWS
    • ALTCOINS NEWS
  • NFT Collection
    • RARITY TOOL BY NFTStudio24
    • UP Coming NFT
    • NFT EXPLORE
  • NFT STORIES
  • PRESS RELEASE
Have an existing account? Sign In
Follow US
  • About us
  • Advertise with us
  • Contact us
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
HOME > PRESS RELEASE > Silks avatars are here: NFTs to access the best metaverse of 2022
PRESS RELEASE

Silks avatars are here: NFTs to access the best metaverse of 2022

PR.Dept
PR.Dept March 18, 2022 173 Views 5 Min Read
Updated 2022/03/18 at 11:01 AM
Share
5 Min Read
silks,nft
SHARE

It’s an exciting time in the cryptocurrency market as more projects than ever are springing up with innovative metaverse-related ideas.

One such project is Silks, which looks to leverage blockchain technology and produce a first-of-its-kind derivative gaming experience.

This article will discuss the Silks project in detail — highlighting what it is, how its in-world economy functions and the exciting roadmap the developers have set out.

What is Silks? A brief overview

Silks is a blockchain-enabled play-to-earn (P2E) metaverse game comprising a rich virtual world where players can interact with various in-game nonfungible token (NFT) assets and exciting gameplay features derived from the real world of thoroughbred horse racing. The game offers a unique approach in P2E gaming by linking each of its featured horses to a real-world thoroughbred racehorse.

silks

These links form the foundation of how Silks players can earn rewards: When a horse wins a race in real life, the owner of the corresponding Silks horse will receive a prize denominated in the game’s native transactional token, STT. Rewards are also distributed via other inventive gaming mechanisms such as staking and breeding, providing scope for Silks players to generate consistent income through their in-game exploits.

In the Silks Metaverse, players can purchase plots of virtual land and construct stables to accommodate their Silks horses. Land and stables, and Silks avatars and horses, are all structured as NFTs, allowing players to trade these in-game assets through the secondary marketplace.

The Self-sustaining Silks ecosystem

Rewards for Silks horse owners are distributed in STT that can be used to purchase items in the secondary marketplace.

There’s also the game’s governance token, SLK. According to the white paper, this metaverse will be governed through a decentralized autonomous organization (DAO), with SLK tokenholders able to vote on proposed changes to the platform. Players can convert STT into SLK at a variable exchange rate.

Another fundamental of the Silks ecosystem is mining: To achieve the one-to-one link between Silks horses and their real-world counterparts, decentralized datasets are used with information on each thoroughbred’s bloodlines, development progress and racing results.

Miners verify data through a proof-of-stake (PoS) consensus mechanism, with mining rewards distributed in SLK. At Silks’ launch, the initial datasets will be centralized; however, as the Silks metaverse expands over time, these datasets will become entirely decentralized. Ultimately, this mining process can offer consistent income for many community members.

NFTs: A crucial element of the Silks Metaverse

The Silks avatars that players use and the game’s horses are both structured as NFTs. Players must own a Silks avatar before owning a Silks horse, as these avatars help identify players in the Silks Metaverse.

The initial crop of Silks horses will be minted in mid-2022. However, subsequent crops will be minted annually to coincide with the registration of yearlings — one-year-old thoroughbred horses — in the real world. All horse NFTs will be sold via a blind sale, meaning a player has the chance to obtain a high-value horse regardless of financial situation.

Since the Silks metaverse will have a finite amount of virtual land, players can purchase one-acre plots structured as NFTs. This land is necessary to construct stables for Silks horses and is purchased with STT.

The future of Silks

Looking ahead, Silks’ development team has detailed plans to add more structures and player roles to the Silks Metaverse, allowing sub-economies to develop among like-minded community members.

The Silks roadmap details plans for Silks avatars’ public sale during the second quarter of 2022. Next is the inaugural public sale of Silks horses, then land and stables will be available for purchase in the third quarter of 2022. Metaverse registration and on-ramping are scheduled for the fourth quarter of 2022, allowing Silks players to generate racing and breeding rewards.

Learn more on the website.

- SUBMIT YOUR PRESS RELEASE -
Ad imageAd image

Don’t miss the Important NFT Drops

Are you tired of missing important NFT drops?

  • Just check out our NFT Collection page! Click here
  • For Upcoming NFTs projects, Click here

You Might Also Like

Huobi Global backs Cube to develop its own Web3 infrastructure

APENFT Auctions Five Vanity Fair NFT Covers

Integritee announces NETWORKD “A Crypto Happy Hour” Networking event

Froyo Games partners with WeMade and iCandy for blockchain-gaming development

Stunning Triple-Header of TDx, Bullperks and Poolz Spearhead $GOB’s IDO Launch on June 6th

Sign Up For Daily NFT Drops

Don't miss the next NFT drops!!!

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
PR.Dept March 18, 2022
Share this Article
Facebook TwitterEmail Print
Share
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article sora network, Polkaswap NFTs and Polkaswap referral program functionality live on the Sora network
Next Article lbank,bobc,bobcoin LBank exchange to list Bobcoin (BOBC) March 18
Leave a comment Leave a comment

Leave a Reply

You must be logged in to post a comment.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News from Cointelegraph

Latest News

STRMNFT Marketplace, STRMNFT, nft marketplace, nft
STRMNFT: The Next-Gen Video NFT Marketplace
LATEST NFT NEWS June 20, 2022
Anna Sorokin, Anna Sorokin scam, Anna Sorokin story, Anna Sorokin interview, Anna Sorokin nft, Anna Sorokin nft scam, Anna Sorokin scammer persona, scammer persona
Con-artist Anna Sorokin launches NFTs to move on from her “scammer persona”
LATEST NFT NEWS June 20, 2022
TAG Heuer watches,TAG Heuer, TAG Heuer NFT, TAG Heuer NFT watches, nft
TAG Heuer introduces NFT feature on smartwatches: the new badge of honor?
LATEST NFT NEWS June 20, 2022
- Career -
Ad imageAd image

You Might also Like

Huobi Global, Huobi Global nft, Huobi Global exchange, Huobi, Huobi Global Metaverse, Metaverse, Web3, Web3 infrastructure, Cube
PRESS RELEASE

Huobi Global backs Cube to develop its own Web3 infrastructure

June 14, 2022
Vanity Fair collection, APENFT, APENFT Auctions, APENFT Cover Auctions, NFT Auctions, NFT Cover Auctions, vanity fair, Vanity Fair, NFT cover, Vanity Fair NFT Cover, Justin Sun, Justin Sun NFT Justin Sun
PRESS RELEASE

APENFT Auctions Five Vanity Fair NFT Covers

June 12, 2022
bitcoin conference kings, bitcoinconferencekings, BCK, crypto, Integritee, NETWORKD
PRESS RELEASE

Integritee announces NETWORKD “A Crypto Happy Hour” Networking event

June 8, 2022
Froyo Game, froyo games, NFT games, games, nft, metaverse games, metaverse, play to earn games, p2e game, p2e
PRESS RELEASE

Froyo Games partners with WeMade and iCandy for blockchain-gaming development

June 2, 2022
//

NFTStudio24 delivers the latest NFT news to its global audience. We are committed to reporting mainstream and emerging talent via exclusive press releases, podcast interviews, NFT rankings, and much more.

Recent Posts

  • STRMNFT: The Next-Gen Video NFT Marketplace
  • Con-artist Anna Sorokin launches NFTs to move on from her “scammer persona”
  • TAG Heuer introduces NFT feature on smartwatches: the new badge of honor?
  • MetaMask awards Halborn for recognizing security vulnerabilities in old versions
  • FTX, Deribit, and BitMEX liquidate from Three Arrows Capital, Babel and Celsius halt withdrawals

Experts Alliance

  • Experts Alliance
  • About Alliance
  • Alliance Benefits
  • Membership requirements
  • Apply Alliance

Quick Link

  • ABOUT US
  • CAREER
  • CONTACT US
//

Subscribe to our newsletter to get our newest articles instantly!

NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.NFTStudio24 | Latest and Upcoming NFT News, Press Releases, Reviews, and Others.
Follow US

© 2022 NFTStudio24.com News Network. All Rights Reserved.

  • bitcoinBitcoin(BTC)$20,614.004.85%
  • ethereumEthereum(ETH)$1,130.227.68%
  • tetherTether(USDT)$1.00-0.09%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • binancecoinBNB(BNB)$212.083.08%
  • Binance USDBinance USD(BUSD)$1.00-0.41%
  • cardanoCardano(ADA)$0.4939625.02%
  • rippleXRP(XRP)$0.3221202.07%
  • SolanaSolana(SOL)$35.2910.50%
  • polkadotPolkadot(DOT)$7.786.95%
  • dogecoinDogecoin(DOGE)$0.0599332.31%
  • daiDai(DAI)$1.00-0.28%
  • tronTRON(TRX)$0.061087-2.10%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$20,589.004.59%
  • leo-tokenLEO Token(LEO)$5.376.54%
  • AvalancheAvalanche(AVAX)$17.3314.82%
  • Shiba InuShiba Inu(SHIB)$0.0000082.63%
  • Lido Staked EtherLido Staked Ether(STETH)$1,061.047.16%
  • litecoinLitecoin(LTC)$52.666.31%
  • FTXFTX(FTT)$25.326.97%
  • chainlinkChainlink(LINK)$6.705.38%
  • CronosCronos(CRO)$0.1157665.90%
  • stellarStellar(XLM)$0.1149741.90%
  • OKBOKB(OKB)$10.977.26%
  • matic-networkPolygon(MATIC)$0.39438311.23%
  • NEAR ProtocolNEAR Protocol(NEAR)$3.354.48%
  • bitcoin-cashBitcoin Cash(BCH)$121.30-0.07%
  • algorandAlgorand(ALGO)$0.3186513.27%
  • ethereum-classicEthereum Classic(ETC)$15.847.82%
  • moneroMonero(XMR)$113.773.83%
  • cosmosCosmos Hub(ATOM)$6.847.39%
  • UniswapUniswap(UNI)$4.208.64%
  • Theta FuelTheta Fuel(TFUEL)$0.0530317.79%
  • ChainChain(XCN)$0.080823-2.50%
  • vechainVeChain(VET)$0.0231343.07%
  • HederaHedera(HBAR)$0.07128410.74%
  • FlowFlow(FLOW)$1.426.54%
  • FraxFrax(FRAX)$1.00-0.52%
  • Internet ComputerInternet Computer(ICP)$5.595.35%
  • theta-tokenTheta Network(THETA)$1.309.63%
  • ApeCoinApeCoin(APE)$4.2810.07%
  • tezosTezos(XTZ)$1.437.48%
  • ElrondElrond(EGLD)$55.5116.10%
  • decentralandDecentraland(MANA)$0.833.02%
  • bitcoin-cash-svBitcoin SV(BSV)$64.338.62%
  • filecoinFilecoin(FIL)$5.533.94%
  • true-usdTrueUSD(TUSD)$1.000.09%
  • HeliumHelium(HNT)$11.182.22%
  • Axie InfinityAxie Infinity(AXS)$14.055.10%
  • The SandboxThe Sandbox(SAND)$0.876.03%
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?