I spent a good chunk of the weekend trying to get my head around Zed Run's core concept (“to create an ecosystem where collectible digital assets hold value and have use in an exciting and ever-evolving gaming and wagering environment”). This is especially true when highly hyped trading is based on assets that have no tangible underlying value outside of their specific marketplace. Or it at least has the appearance of thriving, because, as with any rapidly emerging market–crypto, traditional, or otherwise–you never truly know who is driving or profiting from the stampede. The Australia-founded Zed Run has been thriving in recent weeks. “I'll either buy a house with the money I make from it or never show my face for a year.” “This is either going to be the smartest or stupidest thing I've ever done,” one Miami-based Zed Run enthusiast who has amassed 48 horses told the Times. A third touted the thrill of being able to churn a “crazy return on investment,” and predicted that prices on individual digital equine assets could soon surge into the million-dollar range, matching–and at times far exceeding–the auction prices of real-life Thoroughbreds. Another sold an entire stable for $252,000 when demand skyrocketed for that particular collection of “limited drop” offspring. Nevertheless, the cryptocurrency-styled racehorse trading spree rages on at Zed Run, the online global marketplace that went live in 2018 and has since sold 11,000 “Thoroughbreds” that exist only as digital assets on the Ethereum blockchain as non-fungible tokens (NFTs).Īccording to a May 12 New York Times article by Taylor Lorenz, one trader reportedly flipped a single “horse” that initially cost $16,000 on Zed Run for $125,000. There's also an old saw about never investing in any business transaction you don't fully understand or can't explain to someone else (or yourself) in fewer than 30 seconds. There's an adage in poker playing that says if you take a look around the card table and can't tell who the sucker in the game is, it's you.
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