[PRESS RELEASE – Boca Raton, Florida, 25th April 2022]
Game of Silks (Silks), the first derivative play-to-earn metaverse that mirrors the real world of thoroughbred horse racing, today announced that it has partnered with Arbitrum to enhance its on-platform user experience. Core to these enhanced capabilities are Arbitrum’s improved throughput and lower gas fees. Arbitrum leverages rollup technology to introduce broader capacity compared to Ethereum. A transaction throughput significantly higher than Ethereum’s limited throughput offers significant improvements. In addition, Arbitrum’s fees are much lower (ranging between 10-100x cheaper) while still inheriting Ethereum’s security, compatibility, and developer tools.
Silks will utilize Arbitrum’s L2 technology to enhance its GameFi user experience. Moreover, Arbitrum is EVM-compatible allowing for seamless onboarding and a developer experience that mirrors Ethereum. This also applies to developing Game of Silks, as builders can use the same tools. Notably, Arbitrum’s liquidity is the highest of all Ethereum rollup solutions to date. Liquidity is crucial to GameFi ventures like Game of Silks.
“We are thrilled to be working with the Game of Silks team to bring their horse racing themed metaverse to Arbitrum,” says A.J. Warner, Chief Strategy Officer of Offchain Labs.
“We choose Arbitrum over other L2 solutions for its exponential method of increasing scalability and speed to the Ethereum network, without sacrificing security,” says Michael Lira, Head of Technology for Silks. “We see this as extremely important to our users and allows us to add greater game utility and build a more expansive metaverse experience.”
The partnership with Arbitrum further bolsters the scalability of the Silks ecosystem and its metaverse. The mixed-reality play-to-earn project recently secured $2 million in funding led by Tropical Racing ahead of significant additional funding that is anticipated through the public sales of its NFTs.
About Game of Silks, Inc.
Game of Silks (Silks) is the first derivative play-to-earn metaverse that mirrors the real world of thoroughbred horse racing. The Silks metaverse will be powered by a play-to-earn economy where participants can own, trade and interact with a variety of in-game NFTs, earn rewards through skilled gameplay, and experience the thrill of thoroughbred horse ownership. Game of Silks was launched in June 2021 by CEO & Co-founder, Dan Nissanoff and Co-Founder, Troy Levy who is the CEO of Tropical Racing, Inc. Tropical Racing is a multifaceted thoroughbred horse breeding and racing company that operates its business primarily through the breeding, racing, pinhooking and syndicating of young thoroughbreds. To read the Silks whitepaper and learn more, visit silks.io or join the Silks Discord.
Arbitrum is a leading Ethereum Layer-2 scaling solution developed by Offchain Labs. An Optimistic Rollup, Arbitrum provides ultra-fast, low-cost transactions with security derived from Ethereum. Launched in August 2021, the Arbitrum One mainnet beta now has $3.5B+ TVL and 300+ DeFi and NFT projects live in the ecosystem. Arbitrum One is fully EVM-compatible to the bytecode level. With the upcoming Nitro upgrade and the release of AnyTrust Chain, Arbitrum will further reduce costs and optimize performance.
Transaction processing is completed on the second layer, and the results are recorded on the main chain – drastically improving speed and efficiency.
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