Crown Ribbon is shaking up the $300 billion horse racing industry with NFTs

The horse racing industry has grown to be worth $300 billion globally — and now NFT-powered horse owner platform Crown Ribbon is bringing that value to the blockchain.

Crown Ribbon enables users to buy and own NFT shares in a racehorse syndicate assigned to a particular horse or group of horses. The introduction of blockchain technology will increase efficiency in the “notoriously slow and monotonous” horse industry, according to a statement from Crown Ribbon accompanying the launch announcement.

In particular, NFTs will enable holders to easily track and transfer ownership rights and certify their shares, bringing these valuable assets on-chain.

“For many riders, their horse is their most valuable asset, more valuable than their home and vehicle,” says Doug Leonard, CEO of fixed-rate lending protocol Hifi, which partnered with veteran Chad Peusse to launch Crown Ribbon. “Using this value in traditional ways is not an option.”

Leonard added that Crown Ribbon is “well positioned to disrupt this age-old horse racing industry with blockchain technology, by introducing a new ownership model that comes with more flexibility and tools.”

NFT ownership is fully regulated

Crown Ribbon states that it is regulated and transparent, with the platform offering being qualified by the SEC under A+ regulation, making the platform compliant with SEC rules for US participants.

And with Hifi participating in the platform, Crown Ribbon members will have access to the protocol lending ecosystem of liquidity products, a global audience and broader DeFi compatibility.

“Even for the best racing firms, traditional financial institutions lack the experience and expertise to underwrite these non-standard assets,” Leonard said. “Because of our partnership with industry leaders in Crown Ribbon, Hifi has access to the expertise and experience needed to effectively underwrite these real assets.”

To learn more about Crown Ribbon and its NFT-backed horses, visit www.crownribbon.io.

For more information about Hifi, visit hifi. finance. Follow along Twitter And join the conversation at disharmony.

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This sponsored article was created by Decrypt Studio. Learn more about partnering with Decrypt Studio.

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