Updated: Oct 4, 2021
NASCAR is about as American as it gets. ( See Picture Below )
And NFT's are ready for AMERICANS, sort of. The NFT boom is upon us. For most of us that bleed the red, white, and blue, cryptocurrency draws a question mark as to it's relevancy in our country's economic scheme. Most think
crypto challenges the US dollar and domestic currencies for other countries and their governments. For our government and the SEC the conversation continues to race to policy, regulation, and adoption.
Crypto assets like NFT's are likely the least understood of all asset classes by U.S. citizens. A wrinkled brow and puzzled look will often arise in an opening conversation of a CryptoPunk or Galactic Ape (Top 10 NFT collections by market capitalization). What is this for and what do they do? Why do they sell for $1000's, or even millions of dollars worth of Ethereum on the OpenSea? If you do not know about NFT's, you soon will. The hottest space in crypto right now is arguably NFT's.
"NFT stands for "Non-Fungible Token" and is a special kind of Crypto Asset in which each token is unique - as opposed to "Fungible" assets like Bitcoin and dollar bills, which are all worth exactly the same amount. Because every NFT is unique, they can be used to authenticate ownership of digital assets like artworks, recordings, and virtual real estate or pets...really anything." -Rob Betsch, FNL Director of Ops
Use case for NFT's has been one of the topics of question. "What do they do?" you ask. Most NFT's really do nothing except give their perspective owners a mark of status and a decentralized place to stash money in an asset for which they get to determine the market value. Since each NFT is transparently embedded in the blockchain, owners are able to use the laws of comparison to dictate the individualized price of each asset. When an NFT "does something" that provides statistical data beyond an owner's subjective pricing, the supply and demand dynamic will be adjusted to accommodate individual use case value.
A compounding Profit Engine?! The appeal of being able to utilize an NFT to generate revenue, and to create additional unique NFT's, may be why Zed.Run NFT HORSES are leaving tracks in the Cryptoverse. NFT owners have found a compelling use case for their assets in internet gaming environments like Zed.Run. NFT owners in Zed are called stable owners and in the Zed.Run ecosystem can enter their coveted NFT racehorses into races with prize purses that get distributed to the top 3 horses in each race. Zed has hosted over 365,000 races since beginning BETA operations in 2019. Check out the $$$ that has been given away to TOP finishers in the Zed races:
$26,693,040.68 in prize money. Hmm? Aside from being a professional NASCAR driver, or an athlete, where could you participate in lucrative competitions like these? And how does this NASCAR thing fit into this whole horse racing scene? Read this article when you are done here: https://community.zed.run/2021/09/30/virtually-human-studio-revs-up-partnership-with-nascar/ The NASCAR partnership with Zed.Run is adding a layer of validity to Zed while it paves the way for other "racing" games that will use the 3D and Augmented Reality that Zed is pioneering. Will there be NFT racecars next? For now we have our first NASCAR race track that is available to race in Zed. Today, entries into any NASCAR Stakes race will also enter stable owners into a lotto chance at winning one of the 100 NASCAR Passes that will be given away @ 12ET on October 3rd (Sunday). The NASCAR pass itself is an NFT. What will the pass do for the passholders? We will let you know as soon we know.
NASCAR is the epitome of an AMERICAN thing. To partner with Zed (Zed operates entirely in Ethereum $ETH) NASCAR gives perhaps another clue that companies in the U.S. are cultivating relationships that will prepare their target audiences for crypto use and adoption. Recently, Wal-Mart hired a Bitcoin consultant and NASCAR buddied up with something that operates entirely on Ethereum. Soon, American mama's will be swiping their micro-chipped phones to gain entrance alongside their tots into a McPlayland. NASCAR, Wal-Mart, PayPal, and Mickey Dee's may not seem like the right fit, or target audience, for cryptocurrency. However, if crypto can scale down to the lowest income classes, like it has done in El Salvador, then it may render itself worthy of completely transitioning all to a cashless society.
And by the way, there is already a horse named Dale Earnhardt Jr. (& one named Dale Earnhardt) You are already to late. But, be thinking of unique names for your horses. Check for available names by looking at the entire roster of horses on Zed.Run. https://zed.run/roster
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