One of the best projects to come out of the recent NIFTY hackathon was undoubtedly the CryptoCarz racing and betting dApp, hacked by a talented team of CryptoCarz developers in only 20 hours. Full presentation video is below, including a look at the code and demonstration of an actual race in Decentraland (please excuse the video quality).
The game runs inside Decentraland and features 4 different cars racing on a straight track in short, 20 second races. Each car is designed to represent a different cryptocurrency and the speed of the cars is determined by a price feed feeding live from the exchange. The positions of the cars are updated as the transactions are mined once the oracle smart contract starts. This means if you have bet on the DOGE car, when the price of DOGE increases on the exchange, the DOGE car goes faster, and vice versa.
What makes this game even more impressive are a number of betting features built in. The game has a ‘Fast & Furious’ mode whereby all car owners’ tokens (each car is an ERC-721 token) are held in an escrow smart contract and the winner of the race takes all. To clarify, this means if you lose the race, you lose your car to the winner, just like in the movie. Fun, yet brutal at the same time.
Taking things one step further, you don’t actually need to own a car. It is also possible to watch the race in VR as a spectator and bet on the car of your choice using a separate betting dApp built in. The prize pool is then divided up between the winners.
Having built such a fantastic racing and betting game within such a short amount of time, it certainly leads you to believe that given more time the possibilities are endless.
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