Lindsay Lohan Scores the Most Valuable Oly Sport Racehorse NFT
With an affection for NFTs, Lindsay Lohan went full-throttle with a high-priced digital racehorse from Oly Sport. Is Oly Sport a good option for investors?
Dec. 1 2021, Published 10:27 a.m. ET
It isn't Lindsay Lohan's first foray into NFT (non-fungible token) trading, but it's her highest bid yet. After betting in an auction for a racehorse through the Oly Sport platform, Lohan now owns the most valuable racehorse in the Oly Sport metaverse.
What does the Oly Sport platform offer NFT enthusiasts? Will Lohan's investment in digital racehorses through NFTs prove lucrative in the long run?
Lindsay Lohan's racehorse NFT purchase came after her engagement news.
After getting engaged to Dubai-based businessman Bader Shammas, Lohan showed off her engagement ring worth a reported $250,000 and weighing between four to five carats.
But that news is already yesterday's headline. Lohan took to Twitter the next day to boast pridefully about her purchase of an NFT on the Oly Sport platform.
In the auction, Lohan bid on the most valuable racehorse in the Oly Sport metaverse. She ultimately landed the purchase and secured her investment in a digital racehorse of her own.
How much did Lohan spend on the Oly Sport racehorse NFT?
According to a video Lohan posted to her Twitter feed, she shelled out $80,000 BUSD (Binance USD) on the racehorse NFT.
What is Oly Sport?
The gaming platform Oly Sport lets users race digital horses and trade them as NFTs. The website says it's "The world's first horse racing metaverse game for players to earn virtual land and real land in game."
Players can use Oly Sport to purchase, breed, and race virtual NFT-represented horses. The platform also gives players the opportunity to earn prizes through the blockchain. The NFT horses have their own smart contracts that tie them to the blockchain, which makes each one unique in nature. To breed these horses, players can pass on desirable genes and traits from both stallions and mares.
Will Oly Sport catch on?
Even with such confidence in her purchase, Lohan isn't the final gatekeeper on long-term NFT viability. The Oly Sport coin is worth $0.53 as of Dec. 1. The Oly coin itself has had difficulty growing its value, but its gaming platform and NFT trading might have better luck depending on the platform's future success.
Lindsay Lohan will become a shareholder in the Oly Sports racecourse.
In addition to purchasing an $80,000 BUSD virtual racehorse as an NFT, Lohan is also reportedly preparing to become a shareholder in the Oly Sports racecourse, which will increase her investment in the platform at large.
Lohan has also taken to other NFT and cryptocurrency investments, most recently the "Fursona," which received mixed reviews. These blockchain-based dog caricatures are sold through the Canine Cartel. In early October 2021, Lohan wrote on Twitter, "It’s official, I’m a Friend of The Cartel!! 🐶 It’s the first NFT the @CanineCartelNFT is minting for the collection and you’ve got a chance to own it!"
What's next for Lohan's NFT exposure? We're not sure, but it will likely be just as unique as she is.