As part of the deal, gaming platform ZED RUN shall be creating NFTs for a number of NASCAR-branded horses. The two players are yet to finalize the terms of the deal.
On Thursday, August 5, America’s popular auto racing company NASCAR announced its partnership with blockchain-based digital horse racing game ZED RUN. The two players together will create a “brand new, futuristic fandom experience”.
It also means that enthusiasts can soon attend in-person horse races in the metaverse. The Virtually Human Studio (VHS) team made the announcement yesterday. VHS is the official owner of ZED RUN racing game. However, the two companies have yet to finalize the terms of distribution and sales.
VHS will work with NASCAR in creating the NASCAR-branded digital horses. Earlier this year, NASCAR chief digital officer Tim Clark reached out to ZED RUN executives. Startup ZED has seen explosive growth amid a surge in the interest for blockchain applications.
Thus, with ZED’s ability to quickly push NFT products in the market, NASCAR decided to partner with them. Speaking of the development, Tim Clark said:
“We’re bullish on the idea that there is going to be this notion of the metaverse, where a virtual version of yourself will exist and be able to move around in that environment and ecosystem. How that is going to proliferate itself across NASCAR is very much a long-term play for us.”
“Partnerships like the one with VHS, have the ability to revolutionize the NASCAR brand by bridging the gap between an age-old sport and innovative new technology,” he added.
Finalizing the Deal
The two parties are still finalizing the details of the deal. Discussions like the venue and broadcast activations for ZED RUN are in process. They will also discuss potential future appearances of team, driver and track IP in Zed Run’s digital universe.
ZED RUN shall be creating NFTs for a number of NASCAR-branded horses. “We’re going to have to dip a toe into the water here,” Clark said. Last month in July 2021, ZED RUN owner Virtual Human Studio announced a $20 million fundraise in Series A round. The major funding came from Andreessen Horowitz (a16z) and The Chernin Group.
Soon after that ZED RUN also auctioned 20 Atari-themed hoses for a massive $410,000. In a statement, VHS CEO Chris Laurent said:
“Recreating what fandom means through the concept of ownership, the NASCAR and VHS partnership will lay the foundation by exploring innovation around NFTs and what it means to have skin in the game.”
The NFT gaming market is really getting bigger with the day. Even popular fashion brands like Burberry are launching NFTs to feature them in blockchain-based games.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.