Horse Racing Crypto DeRace Coin (DERC) Price Prediction News 2022

3 min read

Derace is a decentralised blockchain-based non-fungible token (NFT) ecosystem which combines three booming industries of video gaming gambling and horse racing. 

The token launched its Initial Dex Offering (IDO) on July 26, 2021 on DAO Maker. The DeRace NFT token sparked investor enthusiasm, surging by 812% between 15 August and 21 November.

The DERC coin reached its all-time high of $8.16 on 25 November, after developers announced the full functioning of the NFT horse ticket exchange programme and the finalisation of certain aspects of the game’s beta version.

Despite that, the token’s price dropped to $6.5 the following day. It rose to $7.2 on 27 November amid reports that the racing smart contract for the DeRace beta game was complete and had started test rounds.

Since its November high, the coin has fallen by 55.8% to $3.6 at the time of writing (December 30). Will the coin manage to regain past highs, and how does the DERC/USD forecast look for the next few years?

What is DeRace coin?

In short, DeRace is a play-to-earn NFT horse racing metaverse based on the Ethereum blockchain and powered by DERC, an ERC-20-based token.

The metaverse targets consumers interested in gaming, gambling and horse racing. while aiming to “disrupt a $700bn market by revolutionising the way people gamble online”.

The platform’s unique selling point is that players get to purchase and interact with their DNA-enriched NFT horses, which even though virtual, are 100% unique. Virtual horses have a number of variable skills such as speed and stamina, which are important factors in defining whether a horse wins a race or not.

Players are given the opportunity to breed their NFT horses to create a much stronger asset that will help them win more races. A new horse’s skills depend on the genetics of the parent NFTs and development through a Generic Algorithm powered by Ethereum Smart Contract.

The DERC token fuels the platform by allowing players to make in-game purchases, place bets on live races, earn winnings and asset trades.

Generally, DERC tokens can be earned in a few simple ways:

  • Every horse owner has the opportunity to participate in a hippodrome race for a certain fee. The winning horse collects all fees paid by the participants as well as a percentage of the bets. Each race is powered by RNG technology, meaning winners are chosen at random, but a horse’s speed and stamina also play a vital role.
  • Players can also own parts of hippodromes where races take place. Hippodromes contain 10,000 individual NFT tokens. Players who own over 5,000 tokens have the right to administrate hippodrome races and are called bookmakers. Bookmakers earn a certain amount of tokens based on their share of a hippodrome’s ownership through the fees players who wish to participate in a hippodrome race pay.
  • Players can also earn tokens through betting. Betting calculations, coefficient and all payouts are calculated via an algorithm.

The total supply of DeRace coins stands at 120m, with 36.9m in circulation. Six months after the cryptocurrency’s launch its market capitalization reached $132m, a 3.9% decrease. The coin is ranked 385 by CoinMarketCap.

DeRace issued a quarter-by-quarter project timeline, aiming to fully launch its platform by the first and second quarters of 2022.

DeRace coin news and analysis: Key drivers

Despite being a relatively new asset and still in development, the DERC token had seen positive results since its launch in July, skyrocketing by 812% between 15 August and 21 November.

November was the coin’s best performing month. The price surged by 60.6% between 1 and 25 November.

DeRace to USD chart, 2021

Amid news that DeRace had partnered with Michael Owen, the former England footballer and owner of thoroughbred horse racing establishment Manor House Stables, to create and release an exclusive collection of NFT horses, the coin’s price jumped by 50.4% in just three days.

The DeRace coin’s value surged once again on 7 November to $4.79 after a small drop when the company announced that DeRace LP staking on the Polygon network, a protocol for building and connecting Ethereum-compatible blockchains, would be introduced from 10 November.

On 19 November, DeRace posted an update noting that the development team had been adding the final touches to a new horse racing smart contract, the main tool managing horse races in the metaverse. This boosted the token’s price 54.2% by 21 November..

The coin’s price then peaked at $8.16 on 25 November followed by an announcement that the horse racing smart contract was complete and undergoing testing.

Regardless of a bullish price movement in November, the coin’s value dipped by 44.1% in December, despite the company announcing that it had updated its race animations, its partnership with blockchain game REVV Racing and the launch of its exclusive NFT horse collection created in collaboration with Owen.

The biggest DeRace coin news followed on 27 December. The company announced that the game’s beta version would launch on the following day. The DERC coin’s value reached $4.56, up from $3.93 on 23 November.

DERC coin price prediction: Will the metaverse gallop on?

Despite the latest downward price action, algorithm-based forecasting service Wallet Investor gave a bullish DeRace token price prediction, noting that it’s “an awesome long-term investment”.

Based on its analysis of the past price performance, Wallet Investor predicted that DERC will cost $14.373 in 2022 and reach $54.511 by 2026.

On the other hand, DigitalCoinPrice predicted bearish results for the DeRace coin, expecting the currency to reach its fist double digits only by 2026. The forecasting service saw DeRace coin’s value reach $5.91 in 2022, $7.1 in 2025 and $15.58 by 2028.

Disclaimer: The information provided on this page does not constitute investment advice, financial advice, trading advice, or any other sort of advice and it should not be treated as such. This content is the opinion of a third party and this site does not recommend that any specific cryptocurrency should be bought, sold, or held, or that any crypto investment should be made. The Crypto market is high-risk, with high-risk and unproven projects.
Readers should do their own research and consult a professional financial advisor before making any investment decisions.

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