Virtually Human Studio

What Virtually Human Studio does

Virtually Human Studio (VHS) is an Australian-founded Web3 gaming studio that develops blockchain-based digital horse racing experiences. Founded in 2019 in Oakleigh, Australia, the company operates ZED Champions, its flagship platform built on Coinbase's BASE Layer 2 blockchain, where players purchase, breed and race statistically unique digital thoroughbreds represented as NFTs. A companion mobile app, ZED Picks, extends the experience to casual players through a sweepstakes-style pick-and-play format using live race data from ZED Champions.

The company's product ecosystem is anchored in smart contract infrastructure on BASE that manages NFT ownership, breeding mechanics, racing stakes and marketplace transactions. ZED Champions features auction-based breeding, leaderboard scoring and integration with the $ZED token, while ZED Picks operates a dual currency system (Zcoin for free play, Zcash for real prize opportunities). The $ZED token is accessible via Uniswap and Coinbase Wallet, and a parallel reZED in-game currency is earned through gameplay and locked to user accounts. Since launch, the company's platforms have processed over $400 million in cumulative transactions through the legacy ZED RUN product, now superseded by ZED Champions.

VHS generates revenue through transaction fees on NFT primary and secondary sales, token-related transactions, and brand sponsorships with partners including Budweiser, NASCAR, Netflix and Atari. The company closed a $20 million Series A in 2021 led by TCG Crypto with participation from Andreessen Horowitz (a16z), Red Beard Ventures and Greylock. VHS employs 11-50 people and is led by CEO Nir Efrat (formerly of King, Dots and Take-Two) and co-founder/CTO Geoff Wellman. The platform operates globally but is currently restricted in Australia (the company's home market) and eleven US states due to skill-based gaming regulations.

Name

Virtually Human Studio

Legal name

Virtually Human Studio Pty Ltd

Website

https://vhslab.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Virtually Human Studio is an Australian Web3 gaming company that builds blockchain-based digital horse racing platforms (ZED Champions and ZED Picks) on Coinbase's BASE network, serving individual gamers seeking skill-based digital ownership through NFT-based thoroughbred breeding and racing.

Ownership category

akta.pro rank

Product category

Web3 blockchain gaming

NAICS

Gambling Industries (7132), Other Gambling Industries (713290), Securities and Commodity Exchanges (52321)

SIC

Services-Racing, Including Track Operation (7948), Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Web3/Blockchain Game Studios (MPAFAAAO)

akta.pro secondary industries

GameFi Economies & Token Systems (tokens, staking, sinks/sources, inflation control) (FSAPAGAG), Play-to-Earn & Reward Platforms (questing, loyalty, airdrop mechanics) (FSAPAGAH), Sports NFTs & Collectibles Marketplaces (FSADANAH), Guilds, Scholarship & Player Networks (asset renting, delegation, communities) (FSAPAGAI)

Keywords

• Web3 gaming
• Digital horse racing
• NFT gaming platform
• Blockchain sports gaming
• Digital thoroughbred racing

Headquarters

HQ city

Oakleigh

HQ country

Australia

HQ region

Oceania

Offices3 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. NFT Sales and Secondary Market: Primary revenue from selling NFT digital thoroughbreds on the platform marketplace, including primary sales and secondary market transaction fees.
2. $ZED Token Transactions: Revenue generated through the $ZED token economy including breeding auctions, racing stakes, and marketplace transactions.
3. ZED Picks Mobile Gaming: Freemium mobile sweepstakes game with Zcoin (free social currency) and Zcash (real prize currency) options. Players can earn currency through daily logins and referrals.
4. Brand Partnerships and Sponsorships: Revenue from partnerships with major brands including Budweiser, NASCAR, Netflix, and Atari for sponsorships and brand integrations.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels9 records

Core offering

Virtually Human Studio operates a Web3 digital sports gaming ecosystem anchored by ZED Champions, a blockchain-based virtual horse racing platform on the BASE network where users own, breed, race, and trade statistically unique digital thoroughbred NFTs using the $ZED token. The company extends engagement through ZED Picks, a mobile sweepstakes companion app that lets spectators predict live race outcomes using a dual Zcoin/Zcash currency system.

Product overview

Virtually Human Studio operates a multi-product Web3 gaming ecosystem centered on digital horse racing. The core platform consists of ZED Champions (the flagship blockchain-based horse racing game) and ZED Picks (a mobile sweepstakes companion app). ZED RUN serves as the legacy predecessor that established the company's market position. The ecosystem is powered by the $ZED token and reZED in-game currency, enabling player ownership of digital thoroughbreds, breeding, racing, and competitive gameplay. The portfolio represents a platform-plus-modules architecture where ZED Champions serves as the primary onchain racing game while ZED Picks provides a lower-barrier mobile entry point using data from the main platform's live races.

Differentiator

Problem solved

Functional benefit

Brands

• ZED Champions: Web3 digital horse racing game featuring blockchain-based ownership, breeding, racing, and skill-based gameplay on the BASE blockchain network.
• ZED Picks
• ZED RUN

Products and services

• ZED Champions Blockchain-based virtual horse racing platform built on the BASE blockchain where players own, breed, race, and earn through statistically unique digital thoroughbred NFTs and the $ZED token economy.
• ZED Picks Mobile-first pick-and-play sweepstakes game where players predict winners in live digital horse races from ZED Champions using a dual currency system (Zcoin for social play, Zcash for real prizes), available on iOS and Android.
• $ZED Token Native in-game token on the BASE blockchain used for breeding, buying, racing, retiring horses, and leaderboard progression within the ZED Champions economy; tradeable on Uniswap and accessible via Coinbase Wallet.
• reZED In-Game Currency Account-locked in-game currency that mirrors $ZED value at a 1:1 ratio, earned through achievements, bounties, and seasonal milestones, usable for breeding auctions, staking, and future Augments but not externally transferable.
• ZED RUN (Legacy Platform) Original flagship blockchain-based horse racing platform launched in 2019 that established the company's market position with over $400 million in transactions before being succeeded by ZED Champions.

Quantifiable outcome

• Over $400 million in platform transactions on ZED RUN

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature6 records

Partnerships

Six partnerships are on record, tiered major, core and minor.

• BudweisermajorStrategic or Co-development Partner · 1 January 2019Brand sponsorship with ZED RUN. Budweiser was one of the iconic brands that partnered with VHS to engage Web3 gaming audiences.
• NASCARmajorStrategic or Co-development Partner · 1 January 2019Brand sponsorship with ZED RUN. NASCAR partnered with VHS for digital racing ecosystem brand integration.
• NetflixmajorStrategic or Co-development Partner · 1 January 2019Brand partnership with ZED RUN. Netflix collaborated with VHS for Web3 gaming and digital ownership content initiatives.
• AtaricoreStrategic or Co-development Partner · 1 January 2019Brand partnership with ZED RUN. Atari collaborated with VHS, leveraging gaming heritage for Web3 innovation.
• American CardroomminorStrategic or Co-development Partner · 1 January 2019Digital horse racing drove American Cardroom's push into NFTs and crypto according to Horse Race Insider coverage.
• Base (Coinbase L2)coreTechnology or IntegrationZED Champions is built on the BASE blockchain network, a Layer 2 solution by Coinbase. All platform infrastructure and smart contracts run on Base.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Dapper Labs: Creator of NBA Top Shot, NFL All Day, and the Flow blockchain; a broader incumbent in sports NFTs and Web3 gaming infrastructure. Competes indirectly with VHS in the licensed sports-NFT space and sets the template VHS follows.
• Gala Games: Web3 gaming platform operating multiple game studios under the GALA token. Comparable to VHS as a broader Web3 gaming ecosystem player rather than a single-title competitor.

Emerging players

• STEPN (Find Satoshi Lab): Move-to-earn Web3 game with NFT sneakers and a dual-token economy (GST/GM). STEPN is a relevant adjacent peer illustrating the same play-to-earn/token-game design pattern VHS uses, but in a fitness setting.
• Illuvium: Open-world Web3 RPG with NFT creatures (Illuvial) that can be battled and earned from. Comparable to VHS as a higher-budget, AAA-ambition Web3 game studio with a similar NFT-collection and tokenized economy thesis.
• Big Time Studios: Web3 action RPG with NFT cosmetic items and a player-driven economy. Comparable to VHS in the category of skill-based, free-to-play Web3 games using NFTs as in-game assets rather than purely speculative instruments.

Direct peers

• Sorare: French Web3 sports gaming company offering NFT-based fantasy sports — initially soccer — where users buy, trade, and compete with officially licensed digital player cards. Sorare is the closest analog to VHS's NFT sports racing model and shares the same playbook of licensed-IP, blockchain ownership, and skill-based competition.
• Pegaxy: Vietnam-based Web3 horse racing game featuring NFT pegasi that can be bred and raced for token rewards. Pegaxy is the closest direct competitor in the digital horse racing category and competes head-on with ZED Champions for the same niche audience.
• Mythical Games: Web3 gaming studio behind NFL Rivals and the Mythos Chain, focused on licensed sports and entertainment IP. Comparable to VHS in the intersection of sports IP, NFTs, and blockchain-based game economies.
• Axie Infinity (Sky Mavis): Pioneer Web3 gaming studio behind Axie Infinity, a play-to-earn creature-battling game with its own token economy (AXS/SLP). VHS follows the same template of NFT creatures, breeding, and a token-driven economy, and competes for the same Web3-gamer mindshare.
• Derby Stars: Web3 horse racing game with NFT racehorses and skill-based racing mechanics on Polygon. Overlaps directly with ZED Champions on horse racing gameplay, NFT-based ownership, and tokenized reward economies.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/v_h_studio
• YouTubeyoutube.com/@vhsstudios
• Facebookfacebook.com/vhsstudios
• Instagraminstagram.com/vhsstudios
• LinkedInlinkedin.com/company/virtually-human

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Virtually Human Studio