Adomas, the CEO of DeRace took time out to have a freewheeling chat about the project over the weekend. An entrepreneur and systems architect, Adomas has been in the crypto space for years and is deeply passionate about blockchain technologies. He is one of the founders of the DeRace virtual NFT horse racing platform and responsible for leading the team as the project goes full steam ahead towards its IDO and platform launch.
During this comprehensive two-part interview, Adomas introduced the DeRace platform as well as its unique features and expounded on its market-disrupting capabilities. He also took us down memory lane on talking about the inspiration behind the idea of a virtual NFT horse racing platform, as well as his views on decentralization and the booming NFT markets.
Can you briefly introduce DeRace to the readers and what are its core offerings?
DeRace is a blockchain-based NFT Horse Racing platform where users can buy and breed NFT horses, bet on real-time horse races, and host races in their own hippodromes for actual profit.
What was your reason behind starting DeRace and how did you come with the idea?
DeRace fills a huge unfulfilled demand for games with gambling features by combining video gaming and gambling and focuses on both markets equally and simultaneously.
For the last few years the line between gaming and gambling has become blurry. Most of the popular video games are not offering gambling directly but their digital assets are being gambled on in-game or third party platforms.
Ownership of these assets is dependent on and controlled by the creators of the game. So even having it doesn’t really give you full ownership of it.
Horse racing itself is super exciting and perfectly fits this concept. Current existing games are kind of dull, so we saw a huge opportunity opening for it. After introducing the idea to jockeys, horse racing enthusiasts, regular bettors and bookmakers — we instantly knew we were on to something big, from their reactions:)
What is your take on the NFT market and how does DeRace plan to contribute in this aspect from a larger perspective?
Most of NFTs currently in the market have no other purpose than just being a collectible or a potential investment that might raise in value in the future. Our NFT horses and Hippodromes have an actual purpose besides being just speculative value collectibles. So we bring life and purpose to the “STATIC” NFT environment. The value of horses probably will be dependent on the looks and horse’s previous performance in races, or family tree members’ performance.
The NFT market is huge and there is a lack of NFTs that are actually usable, or in DeRace’s case, usable.
DeRace plans to tackle three diverse but connected sectors of Gaming, Betting and Horse Racing. How does it plan to take market share from all three simultaneously?
Four to be exact, including the crypto community. Since all of these four markets are completely different from one another, I should say strategies for each sector are completely different too.
Why did you decide to build such an ambitious project on Blockchain and keep the platform decentralized?
Probably it’s the best way of doing it. Horse racing is one of the most corrupt sports in the world at the moment. Fraud and corruption happens in almost every aspect of this industry. Bribing the jockeys, faking the odds, even drugging horses themselves. So in order to make our digital races transparent — we needed a way to make it provable, and blockchain perfectly suits this function. After each race players would be able to check how the race outcome was calculated, so that there was no interference.
Also NFT horses give full ownership of assets. Like a real horse you could use or trade it any way you would like. Inside or outside of the platform frames.
That’s it for now, but stay tuned for the second part of this exciting interview where Adomas talks about the upcoming plans for the project, revenue models and where he sees DeRace in the broader ecosystem in 10 years. Until then, please follow us through our official channels to stay up to date with the latest news and announcements.👇
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