NFT racehorse platform ZED secures $20m in Series A funding
Virtually Human Studio, the team behind the ZED platform, looks to build “metaverse” ecosystem for crypto consumers
Virtually Human Studio (VHS), the company behind NFT racehorse product ZED, has raised $20m in a Series A funding round.
VHS launched ZED, a digital horseracing platform where you can own, trade, race and breed thoroughbreds as NFTs on the ethereum blockchain, in 2019.
It has seen more than $30m worth of NFT racehorses sold to date and each NFT racehorse has a specific set of attributes to determine how well they race and breed.
The funding round was backed by The Chernin Group (TCG), which has previously invested in The Athletic and Barstool Sports.
Andreessen Horowitz and Red Beard Ventures also participated in the round.
VHS plans to use the capital to expand its product and engineering teams to further evolve the ZED platform.
The group also noted it would look to develop deeper partnership integrations and look to provide legacy brands with an introduction to crypto for consumers.
Finally, VHS said it would also aim to diversify its product suite and expand its geographical footprint.
Chris Laurent, VHS CEO, said: “Our vision for the future is to build a creator economy within the ZED metaverse where players can work in professions such as stable owner, racetrack owner, breeder, accessory designer and more.”
Jacob Smilovitz, TCG VP, added: “VHS is building the future of virtual entertainment, digital ownership and collaborative consumer relationships, and we look forward to supporting them as they develop new experiences across a variety of verticals.”