Fasig-Tipton has partnered with Crypto and will accept cryptocurrency as payment for horses at next week's Saratoga Sale, scheduled for August 9-10, 2021 in Saratoga Springs, New York. By doing so, Fasig-Tipton will become the first Thoroughbred auction company to accept cryptocurrency.
"Fasig-Tipton aims to be a forward-thinking member of the Thoroughbred industry, and we are proud to be the first Thoroughbred auction company in the world to embrace cryptocurrency," Fasig-Tipton president and CEO Boyd Browning said in a Monday news release.
"Through these partnerships we will introduce individuals and parties that participate in the crypto space to the exhilarating world of horse racing for the very first time, and growing our sport is a priority of the utmost importance at Fasig-Tipton." (Horse Racing Nation)
Crypto.com, the world's fastest growing Crypto app, is the designated payment platform for the sales. Crypto users will receive rewards, by way of Swapp Protocol, the official Crypto rewards partner of the auction.
One incentive established is the buyer of the most expensive horse paid for with cryptocurrency at the Saratoga Sale, will receive 1 million SWAPP tokens—which is exchangeable for other coins in the market. (Paulick Report)
"We feel very fortunate to have the support of Fasig-Tipton, one of the oldest and most respected brands in the horse auction industry," Crypto.com CEO Kris Marszalek said in the release.
"Our mission is to accelerate the world's transition to cryptocurrency, and we are excited to play a part in pioneering payment innovations in a century-old industry. Together with Fasig-Tipton, we have just taken a major step forward towards reaching our goal."
Fasig-Tipton continues its sales on August 15-16, for New York Bred Yearlings, then breaks until September 28 for Pomona, California, for the California Fall Yearlings sale.
For the full Fasig-Tipton Calendar, read it here.
Source: Fasig-Tipton, Horse Racing Nation, Paulick Report, Saratoga