In an age in which technology continually pushes the boundaries of what’s possible, the world of horse racing saw one of its most ambitious and unusual experiments in 2022: MetaRace. What happened? A real-life thoroughbred was owned not by an individual or a syndicate, but by a crypto community.
The move, thought to be the world’s first, created some excitement among crypto fans, bringing together members of the horse racing community and lovers of BTC casinos in a shared novel project.
Picking a Horse
With no experience in the thoroughbred racing world, MetaRace needed expert guidance. To that end, they partnered with seasoned trainer Oliver Cole, who was tasked with identifying and purchasing their first real-world horse.
Cole attended the prestigious Tattersalls Breeze Up Sale in Newmarket, a place known for supplying quality racehorses. There, he created a shortlist of around 15 young horses for consideration. Historically, Cole has enjoyed considerable success at these sales and hoped to find a horse or two that could not only compete but also bring credibility and visibility to the MetaRace project.
Cole spent two full days at the sale, watching over 100 horses gallop, checking their breathing, observing their movement, and assessing their overall physical condition. On Cole’s instruction, a member of the MetaRace team placed a winning bid on a promising young colt. The cost of the colt and training fees was believed to have totalled £70k, with these funds sourced by Crypto Racing.
After the auction, the horse was tokenised (converted into an NFT) and gifted to the MetaRace community. In doing so, MetaRace became the world’s first crypto project to acquire and collectively “own” a racehorse via the blockchain.
The Race
Named Metarace, the colt was moved to Whatcombe Stables, where he began training under Cole’s experienced eye. Soon after, the debut was set for a Class 5 race at Windsor, a sensible entry point and a local track for the Whatcombe team. The race was five furlongs long, the shortest distance in British flat racing and so it finished quickly. Despite the short duration of the race, it told us a lot about the ability of Metarace.
| Pos. | Runner (SP) | Jockey | Trainer |
|---|---|---|---|
| 1 | Terrimia (15/2) | James Doyle | S Woods |
| 2 | Desperate Hero (4/1) | Tom Marquand | Mick Channon |
| 3 | Grace Angel (11/4) | David Egan | Darryll Holland |
| 4 | Confederation (15/2) | Neil Callan | John Butler |
| 5 | Padre Daniele (33/1) | Gianluca Sanna | Andi Brown |
| 6 | Uffington (66/1) | Hector Crouch | Jonathan Portman |
| 7 | Mister X (100/1) | Lorenzo Atzori | Stuart Williams |
| 8 | Raducanu (4/1) | Silvestre De Sousa | Rod Millman |
| 9 | Furnicoe (33/1) | Hollie Doyle | Gay Kelleway |
| 10 | Metarace (6/1) | Kieran Shoemark | Paul & Oliver Cole |
| 11 | Vim And Vigour (80/1) | David Probert | Joseph Tuite |
| 12 | Bon Marine (16/1) | Pierre-Louis Jamin | K R Burke |
| 13 | Gimme Some Sugar (125/1) | Jefferson Smith | Simon Pearce |
Twelve other horses lined up at the start for the contest, but despite a bright beginning across the opening furlong, MetaRace quickly faded. He drifted down the field, eventually finishing 10th, more than 12 lengths behind the winner in what was a low-quality affair, paying just £4k in first place prize money. After the race, jockey Kieran Shoemark noted that the colt had hung left-handed, a sign of greenness and imbalance that didn’t bode too well for his future competitiveness.
A Short-Lived Career
Following this underwhelming debut, Metarace did not compete again as a two-year-old, despite it not even being halfway through the flat season. Over the winter break, he was gelded in an effort to improve his performances as a three-year-old. If anything though, this made him even more lacklustre than before.
| Date | Race | Course | SP | Position |
|---|---|---|---|---|
| 13/06/22 | Novice Stakes | Windsor | 6/1 | 10th of 13 |
| 17/04/23 | Novice Stakes | Kempton | 50/1 | 10th of 10 |
| 27/04/23 | Maiden Stakes | Chelmsford | 80/1 | 10th of 10 |
| 09/05/23 | Class 6 Handicap | Lingfield | 16/1 | 4th of 6 |
By the time he returned as a three-year-old, Crypto Racing Club had sold him to Whatcombe Racing, likely for a minimal sum, or perhaps even for nothing. In his two subsequent races, Metarace finished dead last on both occasions, 10th from 10. Anyone having a punt on the horse, whether using crypto gambling sites or with conventional bookies, wouldn’t have been too impressed.
He showed marginal improvement when dropped to a Class 6 race, finishing fourth out of six, but this was strike three for the underperforming horse, who clearly had no future at a decent level. As a result, Metarace never raced again and his whereabouts are unknown.
Other Horses
While MetaRace failed to deliver, the broader Crypto Racing Club venture did see a flicker of success. Most notably, they purchased a gelding named Jack Darcy in March 2022. He won on his first appearance after being purchased by the group, becoming the first NFT-backed horse to win a real-world race. It was only a low-quality Class 5 race at Newbury, which paid £3,510 in prize money, but it was a win and a piece of history nonetheless.
After that initial success, Jack Darcy headed for more challenging contests (Class 1 and 2). Although he put in some good efforts at this higher level, he didn’t win again under Crypto Racing ownership. Interestingly, months after being sold in May 2023, he went on to win the Group 2 Grand Prix de Deauville in France – a bittersweet twist for the project’s founders and community backers.
Brilliant ride! Jack Darcy isn’t for stopping under @CristianDemuro to land the G2 Lucien Barriere Grand Prix de Deauville for @whatcomberacing! pic.twitter.com/tqRzFgIuV3
— At The Races (@AtTheRaces) August 27, 2023
What Happened Next?
MetaRace launched during the 2021 NFT frenzy, a time when digital assets were fetching millions and crypto innovation felt unstoppable. However, by mid-2022, the NFT market had completely collapsed, with sales volume falling by over 90% compared to the previous year.
Though the MetaRace team tried to continue operations, enthusiasm and funding dried up. Their last social media update was in May 2023, and the Crypto Racing Club had stopped posting even earlier. With no new horse purchases or community updates, the project ended up being a failure, much like the career of the horse they had put so much effort into acquiring.
