The World’s First NFT Horse and Camel Racing Platform
August 27th, 2021
Competition has driven human progress forward since antiquity. Naturally, the process of competition evolved into humanity’s perceived control over nature. This process eventually culminated in the racing of domesticated animals to demonstrate the ability of long-term resource management. The ability to optimize the native environment for a living creature and maximize certain attributes natively connects with the competitive nature of humans as a species. Animals win through dedicated resource allocations while human wins through demonstration of resource management prowess.
Flash forward to modern society, and this largely mutually beneficial confluence finds itself under fire from many advocacy groups. Recent calls for curtailing the involvement of living animals for competition have grown more vocal over time. Despite these decrees, animals for competitive purposes persist across globalized society. Paradoxically, the financial support network for many such animals derives from their market value relative to their performance, presenting a Catch-22 for animal advocacy groups and racing enthusiasts.
For the first time since the advent of animal husbandry, blockchain offers humanity the ability to compete against one another in an incentivized manner based on the intrinsic qualities of assets with inheritable qualities. WinX Derby allows users to compete against one another using virtual horses and camels that exhibit differentiating qualities based on dynamic user interactions. For the first time, by caring for virtual animals in a mutually competitive environment, users can signal the value of their horse or camel to a global market.
As the global blockchain industry evolves, the potential for mutually incentivized virtual animal breeding and raising will continue to increase. Now, any individual, regardless of income, status, or access to a racing track, can hone their animal husbandry abilities to produce the most competent virtual race animals in the world. This process unlocks a significant long-tail value for society, successfully curbs animal cruelty, and brings the animal racing economy well into the 21st century, future-proofing it against the rapidly evolving social environment.
The ability to racehorses remains a right across most of the globe. The deep connection to these animals that most tamers, riders, and enthusiasts share remains a cornerstone of the emotional component that drives this industry. While the possibility exists to port the existing racing environment, there currently exist no viable alternative that delivers to users the same fulfillment derived from personally caring for a living creature. These limitations largely arise from the comparatively lacking non-dynamic environment in contemporary virtual animal racing. The existing virtual alternatives simply lack the engagement levels necessary to merit mass adoption.
Additionally, there remains a firm lack of continuity presented in existing animal racing alternatives. While the gambling component of animal racing largely suffices to interact within an A/B/C/etc competitive environment, existing software fails to emulate the granular nuances associated with rearing a competition animal. Subsequently, while betting markets can successfully port their userbase to competitions based on virtual races, this process fails to address the individuals raising these animals. As such, there intrinsically exists a demand for live animal racing in the modern economy. Unless an incentivized platform can offer a persistent profile for both users and the animals they rear, existing solutions will continue to fall short of their potential applicability.
Beyond these limitations, there exists theoretical maximum market applicability for these types of service offers. Many individuals remain contented to pull the lever on a slot machine rather than engage in animal racing. This trend has only increased in recent years in no small part thanks to the growing awareness of the potentially negative impacts the industry can have on the associated animals. While most animal racing syndicates boast high standards for treating their livestock that will make the average cowboy blush, there is a persistent stigma against this timeless industry. As such, new investors remain far and few between, and as ESG investment opportunities enter the public eye, this trend remains poised to accelerate.
The WinX platform elegantly addresses these industry pain points and allows investors to enjoy the rich experience of animal racing while avoiding the negative associations now intrinsic to the industry. Rather than offering a simple blockchain-based betting application reskinned for animal racing, the WinX platform moves well beyond this simple potential solution. Rather, the platform allows users to dynamically interact with their horses or camels in various ways, which we will discuss in a later chapter of this whitepaper. For the time being, suffice to understand that every user interaction undertaken with a given race animal within the platform directly results in a material augmentation of that animal’s intrinsic abilities. This balanced functionality exists nowhere else in the world of blockchain nor contemporary animal racing.
The benefits arising from such a configuration are hard to overstate. By allowing users to interact with race animals in the platform dynamically, WinX creates a virtual showcase of the best-domesticated animals currently on the marketplace. Represented by dynamic NFTs, these representations undergo diverse transformations in a completely distributed environment. This process allows the WinX platform to isolate exogenous variables potentially impacting a race animal and instead isolate the actualized variables to those derived from a user action. As such, users of the WinX platform can truly guide the development of their owned NFT assets throughout their life cycles.
As previously mentioned, traditional animal racing faces a predetermined hard cap for market penetration based on physical access and humanitarian interest. Despite the associated costs entailing a high quality of life on average, the growing negative sentiment towards animal racing decreases the resources available to care for these animals. This Catch-22 for many horse and camel racing syndicates makes WinX the perfect tool for emulating the characteristics of real animals in a virtual environment. In this way, tangible domesticated animals can enjoy the benefits derived from the efforts of digital representations bearing their likeness. This process successfully maximizes the humanitarian treatment of animals, allows existing animal racing syndicates to take a socially viable approach, and accesses the long tail of the investment market for horse and camel racing.
The WinX platform allows users to dynamically interact with their race animals, honing their specific skills and enabling them to compete against one another for prizes and recognition. The protocol’s launch will see a total of 100 race animals minted – 50 camels and 50 horses. From this total amount, 50% of horses and camels will reveal as male or female, respectively. This configuration ensures a one-to-one match between male and female race animals while also engendering enough scarcity amongst the initial population to provide value to initial investors.
These initial 100 race animals exist as minted NFTs within the WinX platform. By leveraging the emerging functionality of NFTs, WinX allows users to maximize the value of their owned assets over time by issuing new assets when undertaking qualifying actions. For example, users can improve their animals’ qualities by taking them to the virtual vet for checkups, training them on the virtual track, and treating them with in-protocol purchasable rewards. The users who spend the most time and capital investing I their race animal will inevitably enjoy a marginal advantage over the competition.
However, the WinX platform does not simply reward the users who spend the most capital for improving their race animal. Additionally, the platform allows users to engage in the racing activity themselves, facilitating a natural skill gap for users who race more often. This process allows for a near-zero barrier to entry for users who own WinX camels or horses but cannot treat their animals with rewards within the protocol. By staking WinX tokens, these users also retain the ability to accrue protocol-native tokens that they can use to bootstrap their animals’ care regiment. Subsequently, the WinX platform facilitates a low barrier to entry for a highly competitive virtual animal racing environment.
In addition to spending capital and racing horses and camels to evolve their stats, the WinX platform emulates reality by allowing consenting users to breed their NFT animals to create subsequent generations. Blending the qualities of two high-performing NFTs within the WinX platform will inevitably result in a high-quality race animal specially bred for the functionality desired by the owner. This process sufficiently emulates animal husbandry and, as subsequently specialized breeds of camels and horses emerge in the subsequent generations within the protocol, additional dynamic game modes present themselves. In this way, the WinX platform allows dynamic user action and subsequent NFT generation to dictate future protocol development and feature implementation.
The WinX Derby Stable represents the heart of how users can improve their owned race animals. At launch, the Stable includes a vet, equipment store, and salon where uses can spend their WINX tokens to upgrade their assets. Breed, groom, and nurture your horse or camel with the goal of improving its performance relative to the competition!
Within the Stable, users will find the WinX Derby Store. This Store allows users to purchase in-platform items such as whips, reigns, saddles, and other NFT-altering additions for their owned animals. Much like the traditional animal racing industry, the best riders opt for the best equipment. The Store allows users to select their preferred equipment relative to their level of competition, allowing them to signal to the market the value of their specific horse of camel NFT.
Races occur daily on the WinX Derby platform, allowing users to pay a small amount of WINX tokens for the chance to compete for prizes allocated to the top three winners slots. Users manually control their camel or horse, ensuring that performance during the race directly relates to user skill as well as NFT quality. How well user input functions derives from how well the animal has been breed, broomed, and nurtured throughout its life cycle. Users not involved in a given race maintain the ability to bet on one or multiple competing animals.
Auctions occur weekly on the WinX Derby platform, allowing users to trade their horse or camel NFTs. At any time, users can sell their horse or camel to the WinX platform at the listed market price. The given price of a WinX Derby NFT derives from a proprietary algorithm that uses a point-based system to determine the relative value of an owned asset. Factors considered include the number of races entered and won and overall actions are undertaken to benefit a given NFT.
Each animal has a particular gender – it can either be a male or a female but not both.For matting two animals, one Male and one Female are required by each user. If a breeder lacks a particular gender then it can breed with an animal owned by someone else paying fees. Upon breeding, a new animal with traits acquired from its parents shall be available in your wallet. So it is not just a collectible anymore – rather a self-sustainable community of horses/camels shall be created which can be traded on the blockchain. With an aim to create value for early investors and adopters of the Winxderby ecosystem, the number of times an animal can breed is limited. After each mating, there is a cooling period for which the animal shall not be available for mating. The cooling period increases after each mating. After the limit of mating, the animal cannot mate further. However, it shall still be available for participating in races. Breeding high-quality animals shall result in higher-quality offspring. A user can also breed a fancy animal if the parents have the requisite genetic material.
Through our thoughtful tokenomic structure, the WinX platform facilitates multiple positive feedback loops for investors, racers, and animal breeders within the platform. Upon platform launch, 20% of total revenue derived from the sale of the initial WinX platform NFTs will go towards buying WinX tokens on the open market and burning them. This process entails a significant financial boon for initial investors of the protocol and establishes a clear price floor for investors. While WinX cannot guarantee price stability or a lower bound, our tokenomics ensure maximum protection from both rational and irrational price movements over the long term.
Additionally, the protocol levies a 10% tax on all token purchases and a 12% tax on any sale of WinX tokens. From these fees, 3% redirects to the marketing budget, while an additional 3% accrues in the Pancake Swap liquidity pool. In addition to these proportions, 4% of every buy transaction and 6% of every sell transaction proportionally redistribute to holders of WinX tokens. This process ensures that users who hold their WinX tokens and use them to improve their NFTs will disproportionally benefit from using the protocol.
A total of 1 quadrillion WinX tokens will be minted at the start of the protocol. From this total, 50% of WinX tokens, totaling 500 trillion, immediately redirect to the burn address. By facilitating an immediate token burn upon launch, WinX further strengthens the price floor established by our thoughtful tokenomics. Furthermore, this process greatly compliments the 20% of NFT sale revenue used to buy back and burn WinX tokens. When taking in conjunction with one another, these burn events represent a significant injection of value for initial investors at the very beginning of the protocol.
In addition to the platform’s carefully balanced tokenomics, the WinX platform boasts significant proprietary functionality that users can’t find anywhere else on the market! While the team remains incredibly excited to share the specifics of these exciting features with the community, the unique nature of the user and platform interactions must remain in stealth mode until post-launch. This process was selected to ensure that the WinX platform delivers maximum value to shareholders and maximize functionality for NFT holders. platforms in the industry
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The demand for racing animals will continue to exist as a part of human culture and tradition as it has for millennia. Simultaneously, calls for these animals’ more thoughtful and humane treatment connect with a growing sense of compassion for life amongst the global population. As such, the natural next stage of evolution in animal racing is a perfectly immutable record of an ever-evolving lineage of animals that maintain dynamic qualities. The WinX Derby platform exists as the first platform to successfully gamify animal racing by leveraging the powerful incentives found within blockchain technology.
The WinX Derby platform allows users to evolve their horses and camels in a virtual setting, augmenting their characteristics and spending the time and attention required to maximize their animal’s skill and prowess. Unlike a simple virtual racing platform, WinX Derby allows users to participate directly in the action, requiring dynamic inputs throughout the race to ensure their victory. In this way, the WinX platform successfully connects users to the riveting experience of horse and camel racing in an entirely virtual manner.
The WinX Derby tokenomics ensures a fair and equitable experience for all users of the platform. The platform delivers maximum value over the long term by using cutting-edge features such as token burns and dynamic NFT qualities. The world continues to move toward adopting distributed technologies. As this trend accelerates, the WinX Derby’s forward-looking team stands ready to actualize on the existing and emerging market opportunities at the intersection of virtual animal racing and incentivized systems. We’re excited to unlock the deeply satisfying enjoyment associated with virtual animal ownership, rearing, and racing, all while increasing the humane and ethical treatment of tangible animals.