Dubai Racing Club to launch NFT artwork collection

Dubai is set to launch a Non-Fungible Tokens (NFT) artwork collection related to the horse-racing industry.

The project, led by the Dubai Racing Club (DRC), will offer online as well as real-life benefits for owners.

It will be rolled out during the upcoming racing season at the Meydan racecourse in November.

The latest initiative is in line with the Dubai government’s efforts to encourage the creation of digital assets that can add value to various sectors.

Earlier this week, the emirate unveiled a strategy that aims to increase the presence of blockchain and metaverse companies five-fold.

"Horse racing has always been an integral part of the DNA of Dubai, a city that is shaping a glorious future with foresight, innovation and excellence. 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 season will be available to everyone," said Sheikh Rashid bin Dalmook Al Maktoum, Chairman of DRC.

The collection will feature three categories - "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".

.@RacingDubai announces 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.https://t.co/qEdowNCDPr pic.twitter.com/rknNMumu9z

— Dubai Media Office (@DXBMediaOffice) July 21, 2022