Zed Run Developer Raises $20 Million
The NFT platform lets users buy, sell, breed, and race digital horses
• less than 3 min read
Virtually Human Studio, a startup known for developing *squints at notes* virtual horse NFT platform Zed Run, raised $20 million in Series A funding yesterday from the likes of TCG Capital Management and Andreessen Horowitz.
On Zed Run’s platform, 14,000+ “stable owners” (also affectionately called #ZEDheads) buy, sell, breed, and race virtual horses. Because NFTs are blockchain-verifiable digital assets, each of these virtual horses is “unique.”
To some folks, that makes them extremely valuable:
- Horses can cost as much as $45,000 each.
- Whole stables of digital Hidalgos have sold for more than $250,000.
- $30+ million worth of Zed horses have been sold so far.
How does Zed Run make money? It takes a cut every time users breed, race, or sell their horses. Meanwhile, users can win ethereum by getting on the digital race podium or by selling their horses to others at a profit.
Zoom out: Even if media chatter around NFTs has died down, there’s still a crowd willing to pony up for the cryptographic tokens, and investors are expecting that crowd to grow.
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