NYRA buys into online racing game Game of Silks

The New York Racing Association is entering the metaverse.

NYRA, through its NYRA Bets Holdings, a subsidiary of NYRA Bets, has acquired a minority equity ownership position in Game of Silks, a derivative gaming platform that mirrors the real world of Thoroughbred horse ownership in a play-to-earn format.

In the Silks game, players are required to purchase a non-fungible token in the form of a unique racing silk, which represents their identity throughout the metaverse and appears virtually on their horses, stables and other digital in-game assets they own. The cost to obtain an avatar averages around $150 and it costs $750 to participate in a blind drop of horses to players on Dec. 31. The horses will be 2-year-olds of 2023.

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Game of Silks allows participants to acquire, collect, trade and interact with digital assets that represent actual Thoroughbreds that can have racing and breeding careers. Silks horse owners receive valuable rewards pegged to the on-track success of the horses they own. They also receive rewards should that horse go on to success in the breeding shed.

NYRA president and CEO Dave O’Rourke looks at this partnership as a way to potentially broaden racing’s fan base and perhaps create new horse players.

“Silks captures the evolution of fan engagement and appeals to both the seasoned horseplayer and complete newcomer, which is exactly why NYRA seized the opportunity to enter the partnership,” O’Rourke said in a release.

O’Rourke said NYRA will use its “America’s Day at the Races” show to promote the game and will have its on-air talent participate.

“I thought it would be fun to get a bucket of horses and disperse them over the talent on television,” O’Rourke said in a phone interview. “We’ll start revealing horses to the talent and they’ll manage that horse.”

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