Evolution Stables has tokenised a 10% stake in four-year-old gelding First Gear. (Image: Supplied) To most people, a racehorse is a thoroughbred animal that runs around a racetrack.To an emerging group of investors, it represents a digital transaction on a blockchain and a cost-effective, tradable way into the sport.Auckland-based tech startup Evolution Stables says it accomplished a world first in late 2025 when it successfully tokenised a 10% stake in First Gear, a 4-year-old New Zealand bay gelding.Tokenisation creates digital representations of real-world assets using blockchain technology, and achieving it has been something of a holy g…
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