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Published May 13, 2021

How Virtual Horses are Making Millions & A Potential 9-Figure Company | My First Million #181

Explore the emerging markets of testosterone subscription services and virtual horse racing as Sam Parr and Shaan Puri delve into their lucrative business models, personal insights, and the impactful growth strategies transforming today's industries.
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Episode Highlights

  • Business Model

    The virtual horse racing industry, exemplified by Zed Run, operates by selling digital horses as NFTs, generating significant revenue through these sales. explains that Zed Run conducts periodic drops of new horses, with a recent sale reaching $18 million from 2,400 buyers 1. shares his experience of attempting to invest in the company, highlighting the immense interest and potential profitability of this digital venture 2.

    I almost bought a $10,000 digital horse over the weekend because I wanted to get in before this drop.

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    The business model relies on the allure of owning and racing these virtual horses, akin to traditional gambling but in a digital format.

       

    Investment Hype

    The hype surrounding virtual horse sales is fueled by influential figures and the speculative nature of NFTs. notes the impact of personalities like Joe Rogan in normalizing such ventures, which contributes to their growing popularity 3. This speculative investment attracts those who enjoy gambling, as they bet on the potential success of these digital assets 4.

    It's really simple. Zed is digital horse racing. So if you've ever been to a horse racing track, super Fun Saturday Sunday experience.

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    The excitement is not just about the races but also the potential for significant financial returns, drawing parallels to other speculative markets like cryptocurrency.

       

    Speculation Longevity

    The sustainability of virtual horse racing is questioned due to its reliance on speculation. compares it to other hype-driven phenomena like Bitcoin and NBA Topshot, where the primary value lies in speculation rather than intrinsic worth 5. and Shaan discuss the challenge of creating long-lasting digital ventures, noting that while Zed Run is currently thriving, its future remains uncertain 1.

    The trick is when the primary value is speculation, then it's hard for something to sustain.

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    The conversation highlights the need for a business model that can endure beyond the initial hype cycle.

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