Since it emerged, the cryptocurrency industry aimed to affect and improve every industry it could reach. As the development of crypto and blockchain continued, it quickly became clear that that may very well include every industry out there. Of course, some adopted it more willingly than others, including the sports industry, gaming industry, and gambling industry.
Now, with the NFTs and metaverse dominating the crypto scene, it is not surprising that NFT got closely tied to the gambling sector, especially with projects like DeRace (DERC) offering a new, transparent, and immutable way to gamble on things such as digital horse races.
How Does DeRace (DERC) Work?
DeRace is a metaverse project that describes itself as a complete NFT horse racing ecosystem. Its goal is to set a new standard for the betting, gaming, and horse racing industries. It plans to achieve this by eliminating the age-old issues of corruption, the lack of transparency, and the lack of trust that surrounds horse racing.
As an actual sport, it can also be digitalized and it can finally join other eSports, which was previously impossible due to a high number of scandals and set races where the wealthy and influential entities already knew the outcome before the race even started.
Along the way, the project has a number of benefits for users as well, which is why we expect it to become one of the most popular crypto projects, and potentially a way for gambling to enter the gaming industry in a trustless way.
What Problems Does DeRace (DERC) Solve?
Apart from simply offering a fun distraction for those who enjoy betting, however, DeRace is also solving a number of issues tied to horse racing, video games, as well as gambling itself. Here are several examples of how it helps improve these sectors.
Elimination of corruption in horse racing
For a long time, horseracing has been criticized for corruption and there have been countless scandals revolving around it. In fact, it might even be true that horse racing was never free of corruption since the day someone thought of betting on the speed of horses for the first time in history. The problem is that betting on rigged races is neither fair nor fun, and it certainly isn’t profitable if you happen to bet against the horse that those in power happen to favor.
Thanks to the blockchain technology that DeRace is based on, such concerns are a thing of the past. The transparency and immutability of blockchain cannot be bypassed, and if horse race betting goes big, there will be no more corruption in this sector. Just the pure game of luck and skill required to assess which horse has the best odds.
Digitalization of horse racing
Another thing worth noting is that horse racing is officially a sport, but unlike others, it is a sport that managed to avoid digitalization and becoming an eSport. The reason for this is that no one would trust such games, certainly not enough to put money on the line. Centralized gambling solutions are always controlled, and even if someone did decide to offer one that is not under some entity’s control, no one would ever be certain of it. But, once again, blockchain technology changes things due to its qualities, so digital horse racing can finally become a trustworthy eSport.
Introducing gambling features to video games
Next, DeRace is a perfect way to introduce gambling into video games. Once again, this was not possible until blockchain gaming because of the lack of trust due to centralized solutions, and once again, blockchain gaming eliminates the need for trust, thus making games even more fun for those who wish to put some money on the line and potentially make profits.
Providing an alternative for betting enthusiasts
Lastly, it is worth noting that betting fans now have an alternative to one of their favorite sports that they can actually trust. Many assume that real-life horse races are rigged, and more often than not, they turn out to be correct. However, in a decentralized environment, no one can pull something like that off, and with the blockchain community that runs the nodes consisting of regular people who live all over the world, no one can afford to bribe or threaten them all. At the very least, doing so would be more expensive than any prize won through betting, so it would not make sense to go down that route.
Benefits of DeRace (DERC)
So far, we have talked about different ways in which DeRace can improve horse racing, betting, and gaming alike. Now, however, let’s see what benefits are there for the users themselves, and how can they benefit from this project directly.
Betting transparency
This is something that we already talked about, but while it is important for the industry, it is also important for you as an individual. You need to know that you can trust the outcome of the racing and that betting makes sense in the first place. Betting transparency will bring back the trust and interest in gambling solutions, which was previously lost due to centralized solutions’ slow transaction settlement and shady practices.
Personalized gaming
Next, DeRace also proposes a personalized gaming experience that is 100% fair, and one that allows players to actually own their own racehorse. Since DeRace is a metaverse project, users can purchase NFTs, each of which represents a unique horse. That way, they can prove their ownership of the horse, and use it in racing, place bets on it, and profit if their horse wins.
It is a different feeling when the horse that won you money is actually yours, and thanks to the possibility to even breed NFT horses, you can ensure that they will have unique characteristics.
Becoming a bookmaker with DeRace
Finally, it is also worth noting that players have a chance to become bookmakers with DeRace. They can control the stakes in hippodromes, and make a profit from the fees and bets that other players made before the race. It is even possible for players to build their own hippodrome and offer them to others, while they profit from its use.
Bottom Line
DeRace is a unique project even among metaverses and cryptocurrencies, as it aims to tackle the solutions of multiple industries at once simply by offering a solution that is a combination of the metaverse and NFTs. As such, it has an opportunity to actually make gambling more transparent and fair, allow horse racing to become a digitalized sport, and allow users to own the horses and profit in multiple different ways, depending on which approach they find the most interesting.
