Dubai Racing Club to launch NFT artwork collection
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Dubai Racing Club to launch NFT artwork collection

Dubai Racing Club to launch NFT artwork collection

The NFT digital artwork collection has three categories – Dubai Sprinters, Hall of Fame and DWC Runners

Zubina Ahmed
Dubai Racing Club to launch a one-of-a-kind NFT artwork collection

The horse racing industry has always been integral to Dubai, and guess what, it has now been integrated into the digital world too.

The Dubai Racing Club (DRC) has announced that it will launch a one-of-a-kind NFT artwork collection in the horse racing industry.

According to the Dubai Media Office, there are three categories in DRC’s new collection of digital artwork – Dubai Sprinters, Hall of Fame and DWC Runners.

A Non-Fungible Token (NFT) represents real-world objects like artworks, music, and videos through a unique code that can be secured and stored in a blockchain.

NFT collectors purchase the digital file and ownership rights for the art, while art collectors buy physical pieces of art.

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 NFTs that we are issuing can be utilised both in the real world and online.”

“ We believe it is time for us to take the sport to a whole new level from a technological point of view. A first in the industry, the initiative that we will be launching in the upcoming racing season on 4 November, will be available to everyone,” he added.

Earlier this week, Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Executive Council announced the launch of the Dubai Metaverse Strategy on July 18.

Read: Dubai’s new metaverse strategy to create 40,000 virtual jobs

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