Virtual sports and games company Island Broadcast Media has announced the launch of a new blockchain-based NFT initiative.
The move, which comes as part of a new partnership forged between Island Broadcast Media and Crypto-Pills Gaming company, is designed to allow customers to buy digital stakes in virtual horses and greyhounds.
“Sometimes the combination of two streams of development combine to create something really exciting, and this NFT project promises to bring a new dimension to player engagement. We have also launched a range of fixed odds, betting, and gaming products which we are now beginning to introduce to the market.
“The incorporation of unique NFTs inside the Virtual Sports world creates an exciting crossover between the Blockchain and Virtual sports,” said Island Broadcast Media Co-Founder Dave Mousely.
After backing their digital assets, owners can then track them as they participate in virtual races and events around the world, making profits based on how their virtual horse or greyhound performs. Eventually, the assets will be minted into unique NFTs backed by the power of the blockchain.
Island Broadcast Media Chief Executive Heath Samples said: “When we saw what Crypto-Pills was developing, we immediately realized the synergies and were delighted to announce a formal alliance between the companies to develop and deliver the combined technologies within our virtual racing and gaming products.”
The new initiative comes as a first for the industry and looks set to herald a new era of NFT and blockchain-based virtual gaming.
Crypto-Pills Gaming Company Founder Graham Martin added: “ I am delighted to have created this innovative new venture, combining collective expertise in the gaming industry with the creativity of a true digital art pioneer, as the future of gaming is being shaped by blockchain technology, so we are all excited to be at the forefront of this transformation.”
