NFT stands for Non Fungible Tokens. That may not help! In layman's terms, an NFT is something is verifiably unique and ownership is provable on the blockchain. So, how does that apply to Horses and Horse Racing?
In short, it is an absolute game changer. It becomes like real life.
As an example, in any given video game now, you may have bred a new horse (or acquired a rare piece of armor, or found an exclusive amulet), and when you decided to stop playing, that item is of course worthless. NFT's change all that, by allowing the players to truly OWN their assets, which can then be SOLD or TRADED on an open marketplace. And since they are backed by the blockchain, there is publicly-viewable provable and verifiable ownership and scarcity. If you breed the next Secretariat or Justify and win every race you enter, you have real financial gain at stake now, rather than just a fleeting moment of glory atop a video game leaderboard.
How will Horse NFT's work in Photo Finish™ LIVE?
When you acquire a horse, either via breeding it yourself from your mare or acquiring it on the marketplace, that horse is yours. And just like in real life, you can do a multitude of things with that thoroughbred! You can enter it into as many races as it can run, you can breed it with someone else's horse, you can hold onto the horse and view / care for it in your stable, and ultimately you can sell it to another player.
All of the core "data" about the horse - the blueprint as you will - is stored on the blockchain and can never be changed. Their bloodline, genetics, etc are all provable and verifiable for all to see.
You as a horse owner can work to train and care for your horse to ensure that they are at top form when racing. You as an owner can make sure they are entered into races that fit them. You can get them entered into races you think they'll win, dominate, and then sell them for profit!