The very first regulated NFT-backed horse ownership platform that aims to disrupt the $300 billion horse racing industry
Hifi partners with Chad Beus to transform horse racing and ownership
SAN FRANCISCO, Dec. 01, 2022 (GLOBE NEWSWIRE) — Hifi, the leading fixed-rate lending protocol, today announced its partnership with recognized equine industry veteran, Chad Beus, to launch Crown Ribbon, the first ever regulated NFT-backed horse ownership platform. Through the platform, Crown Ribbon aims to disrupt and digitize the centuries-old horse racing industry by eliminating the barriers to horse ownership.
Although the horse industry has blossomed into a $300 billion economy, proving the authenticity of horses is a challenge that has plagued the horse industry for centuries. Blockchain technology, due to its worldwide audience and open ecosystem of tools, brings efficiency to an industry that is notoriously slow and monotonous. With Crown Ribbon, ownership and authentication rights are made easily accessible and transferable via NFTs. The partnership’s blockchain solution enables horse racers to bring their valuable assets on-chain in a safer, more transparent and more flexible ecosystem.
“For many riders, their horse is their most valuable asset, more valuable than their home and vehicles. Leveraging this value in traditional ways is not an option,” said Doug Leonard, CEO of Hifi. “Even for the best racing operations, traditional financial institutions lack the experience and expertise to underwrite these non-standard assets. Because of our partnership with industry leaders at Crown Ribbon, Hifi gains access to the necessary experience and expertise to effectively underwrite these real assets.”
Hifi opens doors to the performance horse industry by providing loyal Crown Ribbon members with an enhanced, digital ownership experience. Members will have access to Hifi’s ecosystem of liquidity products, a worldwide audience and wider DeFi composition. With Crown Ribbon, NFT owners will buy and own a share of a racehorse syndicate that maps to a specific horse or to a collection of horses – allowing users to invest in horse ownership in a way that is regulated, transparent and compliant. Crown Ribbon is submitting an SEC-qualified offering under Regulation A+, making the platform compliant with SEC regulation for participants in the United States.
“We were impressed with Hifi, their team, expertise and passion for using technology to change the world in a positive way,” commented Chad Beus. “We were keen to work with the Hifi team to welcome newcomers into the performance horse economy.”
“There’s nobody more qualified than Chad Beus,” Leonard added. “Chad is one of the founders of the Pink Buckle, the most coveted barrel racing event in the world, a pioneer in the space, and has spent the last 30 years racing and selling horses. Crown Ribbon is well positioned to disrupt this antiquated horse racing industry through blockchain technology, offering a new ownership paradigm that comes with greater flexibility and tools.”
To learn more about Crown Ribbon and its NFT-backed horses, please visit: www.crownribbon.io.
For more information on Hifi, visit: hifi.finance. Follow along Twitter and join the conversation at Disagreement.
About Hifi:
Hifi Finance is a fixed-rate, fixed-term lending platform built on the Ethereum blockchain. Designed to allow users to lend and borrow against crypto-assets without any surprises, the Hifi ecosystem continues to expand with partnerships and projects to provide new opportunities to increase usage and TVL.
To learn more about Hifi, please visit: https://hifi.finance/.
Follow Hifi further Twitter or join the community at Disagreement.
Media contact:
Isaiah Jackson
Howl Labs
e: [email protected]
t: 805 674 7348
