Season 2 AMA Recap

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SEASON 2 AMA RECAP

  • We have been focused on building our company with a strong emphasis on people, process, technology and community.
  • We have made incredible strides in platform improvements, user-friendly updates, and have noticed a significant reduction in community-reported issues.
  • Further enhancements to the user experience are on the way, including race page upgrades and a new marketplace.
  • The team is developing a comprehensive roadmap to be released to the community

Season 2 Announcements:

  • 10% increase in Season 1 horse royalty
  • Addition of 5th Place finishes to Silks Payouts
  • Addition of Canadian races to the purse pool
  • Addition of Saudi Cup Week, Dubai Cup Week, Royal Ascot, and more
  • The official start date for Season 2 will be March 8th
  • The pre-sale for Season 2 will begin on March 8th.
  • Season 2 horses will be priced at $1,250 at a 1% in-game royalty
  • Discounts: 
    • OG5K Avatar IDs (#1-5000) will receive a 20% discount beginning on March 8th, and will last until April 7th.
      • Avatar IDs #5001-10,000 will get a 20% discount for 14 days beginning on March 8th and ending on March 22nd
      • Avatars can mint 1 horse using its discount. After the discount is used, the same Avatar can continue to purchase horses at the standard price. 
    • Each Avatar will have an identifier to notify users if the discount is available 
    • Avatar holders will receive a minimum 10% discount on horse purchases in future seasons
  • Announced Season 2 Rebate
    • Additional information to come.
  • Breeders Fee:
    • Starting with the first Silks horse in the breeding shed, breeders will receive 1.5% of the purchase price of offspring from Sires and 3.5% from Broodmares owned by Silks players.
    • Fees will be paid 30 days from the purchase of offspring.  Payments will be made to the wallet holder of the Sire and Broodmare on the day the fee is paid.  
    • Additional Twitter Spaces & information to come

Updates on Functionality:

  • We are close to launching V1 of our comprehensive internal marketplace that will enable a robust payment process that is scalable and allows users to seamlessly transact within the Silks platform. 
    • An internal marketplace that’s directly integrated with the Races page will allow users to directly connect with their Silks assets.
  • The marketplace release will set the stage for Syndication, ensuring an outstanding all-inclusive user experience that captivates the intricacies of community partnerships in our game. 
  • Our original vision for the land portion of Game of Silks was to implement a stable fee that essentially taxes our players, community, and partners. 
    • However, upon reflection, we concluded that imposing a tax, which amounted to taking a quarter of every dollar earned by those not currently owning land, was not the current right approach for us.
    • We are revisiting Silks Land and we're re-strategizing it. We are coming up with the best idea of what land truly is, the value of land, the value of stabling and the metaverse. But we need a little bit of time.

Wrap-Up & Closing Remarks

The journey through the world of Silks in Season 1 has unfolded as a remarkable narrative. Initially met with uncertainty, the creation of this game has since seen a significant shift in perception. The racing community at large is now beginning to acknowledge the ways in which Silks serves to enhance horse racing. Industry insiders and racetrack owners are increasingly eager to delve into this innovative technology, recognizing its potential to revolutionize the traditional fabric of the sport. 

Our investors deserve immense gratitude for believing in a vision that was once a mere dream, their faith has been the cornerstone of our journey. 

However, the most profound appreciation is reserved for you, our community. Your honest feedback, whether in moments of joy or disappointment, has been invaluable. Your engagement, from farm visits to race day conversations, fuels our commitment to transparency and accountability. As we look forward to more interactive forums and exciting meetups, remember, your commitment is the bedrock of our success. Here's to a future filled with achievements, shared experiences, and the collective pursuit of excellence. Cheers to all, and let's eagerly anticipate Season 2!

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Link to AMA recording: https://t.co/vGTxpR6kKd

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