How Cryptocurrency is Making Racehorse Ownership More Accessible
Finally, after all those years, horse racing isn’t an activity reserved for the ultra-rich. Now, we the normal people, can also become racehorse owners – or part racehorse owners to be exact.
In the past couple of years, we’ve seen some revolutionary technology being introduced to horse racing. At first glance, it might look a bit odd to try to revolutionize a sport that dates back centuries, but in the end, it all makes sense.
Probably the biggest advancement in horse racing is the introduction of Blockchain technology. This technology opened so many new opportunities for the sport and most of them are still not fully explored.
One of the most revolutionary changes was the overhaul of the horse ownership program allowing fractional ownership of an actual real-life or digital horse. This means that casual fans of the sport can now invest their own money into horse racing and possibly earn more as the horse wins races.
In today’s article, we will take a look at how cryptocurrencies or blockchain technology made racehorse ownership more accessible.
How Cryptocurrencies Revolutionized Horse Racing
Cryptocurrency and blockchain technology are not just for tech enthusiasts anymore; they’re reshaping the traditional horse racing industry.
Companies like Cryptojock and Maxima are pioneering this shift by offering fractional ownership of racehorses through digital tokens or NFTs (Non-Fungible Tokens).
Maxima is a cutting-edge platform developed to accommodate all aspects of the present horse racing business. It also opens up various opportunities and niches via developing crypto applications like NFTs and DeFi.
At its foundation, Maxima takes actual horses and assigns them to an NFT, allowing the horse racing business to modernize and get access to new investors and finance. The Maxima platform’s capacity to divide horse ownership into incredibly small sections makes investing in horse racing more accessible than it was previously.
Imagine owning a share of a racehorse for as low as $10, or even $1, owing to the wonders of blockchain technology.
Eventually he can improve value and land up in the wager pool for the Kentucky Derby. Check out how: https://www.twinspires.com/kentuckyderby/future-wager-pool/
These companies are allowing anybody to enter the exciting world of racehorse ownership without the requirement of huge funds or a substantial understanding of the sport.
Fractional Ownership
Fractional ownership is not a new concept, but when combined with cryptocurrency, it becomes a game-changer. Platforms like Apollo Racing and ZED RUN are leveraging the Ethereum blockchain to fractionalize physical and digital racehorse ownership.
This approach not only makes racehorse ownership accessible but also introduces an element of community and engagement among owners. With Apollo Racing, for example, each NFT represents a 10% stake in a racehorse, including all fees for an 18-month period, and entitles the owner to a share in any prize money won.
The Rise of Digital Racehorses
While conventional racehorse ownership entails the thrill and unpredictability of the track, digital platforms such as ZED RUN are bringing the experience to the virtual world.
In this online environment, digital racehorses may be bred, raced, and exchanged at any time of day. This not only draws a global audience but also exposes a new generation to the sport, blurring the distinction between gaming and gambling.
Other Players in the Industry
MyRacehorse takes a slightly different tack by offering fractional ownership opportunities in top racehorses for under $100. This platform has harnessed the power of blockchain technology to provide a legal and compliant global racehorse ownership experience.
With the backing of industry stalwarts like Spendthrift Farm, MyRacehorse is making significant strides in democratizing access to the sport, ensuring the well-being of thoroughbreds even after their racing days are over.
The Starting Line for Innovators
Innovative platforms such as BTX Racing and CRYPTO RACING Club are further proof of the industry’s evolution. BTX Racing offers micro-ownership opportunities, making it easier for fans to engage with the sport and access part-ownership of horses trained by world-class trainers.
On the other hand, CRYPTO RACING Club is offering asset-backed NFTs that represent a stake in a horse’s racing career, paid for with cryptocurrency, and featuring horses with crypto-inspired names like Mr Ethereum and Mr Bitcoin.
Final Words
As you can see, cryptocurrencies and Blockchain technology opened up Pandora’s box of endless opportunities. Now every horse racing enthusiast can become a racehorse owner only by swiping their card.
But that’s the start of it. This revolutionary technology will bring many benefits to the horse racing industry as well as new money flow. Imagine 10% of the global fans in the world invest $100 into buying shares of a real horse. This will result in billions flowing into the industry that were not possible before.
With more money into horse racing, we will see it expand globally, we will have new horse racing events and new arenas, and more people will be encouraged to start their own stables and invest into the sport.
