Thoroughbred Horse Racing Metaverse Game Of Silks Partners Arbitrum To Enhance Liquidity And Throughput
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Metaverse projects have the potential to tackle multiple use cases. However, they will require solid scalability to unlock their full potential. Game of Silks taps Arbitrum to achieve this goal, as Ethereum has too many bottlenecks.
The Game of Silks Metaverse
There has been a lot of talk about the Metaverse in recent months. Both mainstream companies and blockchain startups explore opportunities. Merging the real and virtual worlds is, in theory, the key to building more immersive experiences spanning work, entertainment, and social activities. Moreover, many projects are carving out their corner of the Metaverse, and Game of Silks is one of those titles.
Under the Game of Silks (or Silks) banner, users can gain exposure to thoroughbred horse racing. With the help of Tropical Racing – who also invested in Game of Silks – the team will tokenize real-world thoroughbred horses as non-fungible tokens on the Ethereum blockchain. Silks users can acquire these NFTs and earn rewards based on how the real-world horse performs, trains, and breeds.
Participants can own, trade, and interact with various Metaverse NFTs, including land plots, stables, etc. The project has raised USD 2 million in funding and aims to raise more money through its upcoming NFT sales. An ecosystem on this scale will require scaling solutions, which Ethereum cannot provide today. The issues plaguing Ethereum have been well-documented, and the long-awaited Beacon Chain merge has been postponed by several months.
The Game of Silks team is aware of the current situation and has taken a proactive approach. Rather than wait for Ethereum to scale better, the team has partnered with Arbitrum. The Layer-2 solution is compatible with the Ethereum virtual machine, making it a straightforward choice. As a result, the Silks developers can continue to use their favored tools, and the derivative Metaverse requires no code changes to unlock Arbitrum’s benefits.
Why Arbitrum Is Essential
Speed and efficiency are crucial when building a Metaverse tied to real-world assets and actions. Although Ethereum is a major network for developers, it lacks the necessary traits to fulfill that vision today. Arbitrum, which runs on top of Ethereum, leverages rollup technology to enhance its capacity and lower gas fees. Moreover, the Layer-2 solution still inherits Ethereum’s security and compatibility.
Silks Head of Technology Michael Lira comments:
“We choose Arbitrum over other L2 solutions for its exponential method of increasing scalability and speed to the Ethereum network without sacrificing security. We see this as extremely important to our users and allows us to add greater game utility and build a more expansive Metaverse experience.”
The partnership between Arbitrum and Game of Silks marks a key milestone for the Layer-2 solution. Arbitrum has made inroads in decentralized finance and now becomes of greater interest to GameFi and Metaverse projects. The cheap, secure, and fast execution environment can prove viable across multiple industry verticals and user experiences.
Partnering with Arbitrum enables Game of Silks to focus on building a real-time thoroughbred racing Metaverse. Speed and execution are core elements of any engaging user experience. Moreover, the project will still benefit from Ethereum’s upcoming scaling improvements when they go live on the network. A cross-chain approach through EVM compatibility will establish a better and smoother thoroughbred racing experience.
