DRC to launch a one-of-a-kind NFT artwork collection

Dubai Racing Club (DRC) has announced that it will launch a one-of-a-kind NFT artwork collection in the horse racing industry that offers online and real-life benefits for owners.

DRC’s new NFT digital artwork collection has three categories, where the first set called the “Dubai Sprinters” which will be released with both publicly available artwork as well as limited-honorary NFTs, followed by the “Hall of Fame” and the “DWC Runners”. The “Dubai Sprinters” collection will feature exciting offers and benefits connected to the real world as well as a metaverse project the organisers of the Dubai World Cup are set to launch soon.

Sheikh Rashid bin Dalmook Al Maktoum, Chairman of Dubai Racing Club said: “Guided by our visionary leadership, Dubai continues to support technology innovation in various fields, and today we are proud to pioneer virtual assets in the horse racing industry that offer all our fans a new way to celebrate the sport. The Non-Fungible Tokens (NFTs) that we are issuing can be utilised both in the real world and online.”

A Non Fungible Token (NFT) is a digital asset with a unique code that represents real-world objects like artworks, music and videos that can be secured and stored on a blockchain, a distributed public ledger that records transactions.

In recent years, NFTs have taken asset ownership to a whole new level and many users are now owners of a range of virtual assets from artwork to music videos to graphics that they have bought online using cryptocurrencies. Non-fungible tokens cannot be exchanged for another, and a token cannot be further fractionalised after they are created or ‘minted’.