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

The horse racing industry has grown to an astounding $300 billion globally – and now NFT-backed horse ownership platform Crown Ribbon is bringing this value into the blockchain.

Crown Ribbon enables users to buy and own NFT shares of a racehorse syndicate mapped to a specific horse, or to a collection 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 track and transfer ownership and authentication rights over their shares easily, bringing these valuable assets on-chain.

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

Crown Ribbon, Leonard added, is “well positioned to disrupt this antiquated horse racing industry through blockchain technology, by offering a new ownership paradigm that comes with greater flexibility and tools.”

Fully regulated NFT ownership

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

And through Hifi’s engagement with the platform, Crown Ribbon members will gain access to the lending protocol’s ecosystem of liquidity products, a worldwide audience and broader DeFi composition.

“Even for the best racing operations, traditional financial institutions lack the experience and expertise to underwrite these non-standard assets,” Leonard said. “Due to our partnership with industry leaders at Crown Ribbon, Hifi gains access to the necessary experience and expertise to effectively underwrite these real assets.”

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

For more information on Hifi, visit hifi.finance. Follow along Twitter and join the conversation at Disagreement.