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The idea to tokenize racehorses has been first advanced in an interview by Wave Financial’s Benjamin Tsai. There are basically two options: tokenize the horse itself as a unique asset and use a token format. The simplest solution here would be the. ERC-721 or ERC 1155 standard, in which case the. standard would do. The. simplest solution is to. tokenize shares of an SPV (in the USA LLCs are commonly. commonly used), in which. the. owner can digitize the ownership title agreement and other records, such as the microchip implantation or. implantation in the future.