Virtually Human Studio (VHS) – the start-up behind digital horse racing service Zed Run – has raised $20 million through Series A funding from Red Beard Ventures and Andreessen Horowitz venture capital companies.
Zed Run lets users buy, sell and breed their own stable of racehorses as well as compete with other players. Digital horses are implemented as NFTs which are allowed to change with time. This means that all victories/ losses, ancestors and offspring are recorded, while the classic NFT architecture ensures unique ownership. Users can win real money both by winning the races and selling their racehorses to each other.
Zed Run made news after selling $30 million worth of NFTs since its launch in 2019. One player sold his stable of racehorses for $252,000 while another made 125K off a single stallion. You can see the available horses here.
#ZEDheads! It is OFFICIAL! We have successfully completed a $20M USD capital raise from @tcg_crypto and @a16z, along with @RedBeardVC who support and believe in the vision we all share for ZED RUN.
Get the full scoop: https://t.co/WH0e0WrFeu#ZEDRUN #future #entertainment pic.twitter.com/91tWkIGekX
— Z?D RUN ?? (@zed_run) July 21, 2021
In a statement, the company mentions recent collaborations it had with Atari, Stella Artois and The Preakness. Just a few days before the announced investment, an auction of 20 exclusive racehorse skin NFTs featuring classic Atari games was concluded, bringing $410k profit.
The company plans to expand its game economy by allowing players to own race tracks, create and sell accessory designs and more. The fresh investment will help hire new developers and accelerate VHS growth as a whole.
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