Dubai: NFTs (Non Fungible Tokens) of Arabian thoroughbreds will soon hit the digital universe seeking collectors.
Al Sheikh Stud is putting its ‘finest line-up’ of purebred Arabian Horses for the new-age digitized valuation. It will be done in tandem with Atria Holdings and Finvault. The Al Sheikh stud is located in Belgium and with an office in Dubai. These are likely to be launched by end August.
”While the beauty of purebred Arabian horses is admired worldwide, the digital currency revolution demands an investment option of another kind,” said Mohamad Al Shaikh the founder of Al Sheikh Stud. “We are piloting the NFT for Arabian Horses in the region. Apart from developing and securing the NFTs, we will also be collaborating with leading regional events to reach our valued customers.”
The NFTs are being developed to enable investors to trade in real purebred Arabian horses via digital currencies. These tokens will also be valued on a ‘digital scope to be relayed further in advanced usages like simulated racing, breeding, and gaming’.
Finvault holds the right to reserve and limit the use of the NFTs depending on valuation and requirements.
The three partners, including Al Sheikh Stud, will work to develop ‘high-value’ NFTs featuring the purebreds. “Apart from breeders, race enthusiasts, and discerning clientele; they reserve a special interest in the minds of artists and prestigious admirers,” said a statement. “The NFTs are being developed to complement such unique investment opportunities in the world of Arabian horses.”