The nonfungible token (NFT) market has continued to grow at a rapid rate over the last few years, with the number of use cases associated with this novel asset class continuing to evolve and grow quite rapidly. For example, many Web3 firms have devised solutions that allow NFTs to be used for unique purposes such as ticketing, event management, real estate sales, etc.
Most recently, these tokens have been adopted by the live sports industry, wherein digital collectibles are being linked to real-world assets where they can then be used for a wide array of purposes. For example, Stables is a Web3 fantasy gaming platform that allows players to purchase offerings called 'Stables NFTs', i.e. unique digital horses whose names and performances are tied to real racehorses.
This collection of 3D horses is available for investors to acquire and has been produced by prominent artists. The assets, once bought, allow owners to gain access to various rewards associated with the winning of real-life races as well as allow individuals to participate in the development of the game's fast-evolving ecosystem.
Why Stables?
Straight off the bat, it should be pointed out that the project is backed by PMU, the European leader and ranked 3rd worldwide in horse betting, whose economic mission is to finance the French horse racing industry.
PMU uses official France Galop and Le Trot licenses based on real racehorses. Moreover, Stables allows players to indulge in a highly immersive digital environment that incorporates the intensity of horse racing with the various possibilities that the burgeoning Web3 sector has to offer.
Lastly, PMU is working in collaboration with 321founded, the first corporate start-up studio in France, the team has brought together a team of entrepreneurs, Web3 specialists, and professionals from the horse racing industry/video game sector to create an experience based on NFT and Web3 technology.
How does it work?
To begin with, players are required to acquire Stables' NFTs from a wide selection of assets that are made available twice a year. As part of the first token cohort, users were required to complete certain quests and moving forward, the platform will continue to assimilate data from the rich world of horse racing, subsequently awarding owners of these NFTs with 'Stables Points' after each race as per its final result.
The distribution of these points will be carried out using an algorithm harnessing ten years of racing history. Furthermore, it bears mentioning that the proceeds from the sales of NFTs will be set aside for game development as well as for fostering various community initiatives. Lastly, during Q2/Q3, the project will expand and allow players to take a more hands-on approach in regard to the game, allowing them to modify their in-game assets over time.
The technical nitty-gritty of Stables
Stables has been devised atop the Tezos (XTZ) blockchain, a blockchain ecosystem known for its energy-efficient design. Additionally, the platform is scalable and is capable of processing around 170 TPS (transactions per second) while offering a deterministic time finality of one minute (2 blocks). Not only that, the project is smart contract compatible, thus allowing for the deployment of novel dApps atop its base infrastructure.
Some of the other key aspects of the Tezos blockchain include its high level of security, low transaction costs, a burgeoning community of backers, etc. In terms of what lies ahead for Stables, the project's full NFT collection will be released during the first quarter of 2023, followed by the release of the game's alpha iteration by Q3.
In terms of the team behind the project, Stables is being led by Constantin Garreau, who was previously leading different digital teams at PMU (Pari Mutuel Urbain), the official organization that manages horse racing betting in France. He has also worked in varying capacities for other prominent companies like Salesforce and Contentsquare.
At present, Stables' NFTs are priced at 99€ (within the XTZ ecosystem) with a supply of 6,666 tokens. The set mint date is March 27.
Looking ahead
As we head into a future driven by decentralized technologies, it stands to reason that more and more people will gravitate toward the blockchain gaming market, especially since it provides users with an immersive experience that was previously not possible via traditional avenues. In fact, Stables' growing popularity is best highlighted by the fact that its social media presence has been growing at a rapid rate. To this point, just a month after its release, the project already has 16,000 followers on Twitter and 11,400 members on its private Discord channel. Therefore, it will be interesting to see how the future of the project continues to play out from here on end.
