New NFT project Bullishly Bred is set to help pet owners, breed registries, pet stores, and other industry stakeholders solve a longstanding problem – disrupting the multi-billion dollar pet industry with blockchain technology and NFTs.
Due to antiquated dog breeding and owner registration procedures, today’s hundreds of legacy kennel clubs and pet registry organizations are fragmented.
Their rigid exclusivity has created an underground network of unscrupulous breeding that motivates puppy mills and backyard breeders to operate in the shadows.
There is a lack of open standards that affects families as well. Currently, there are so many dog registries that it is nearly impossible to reunite a lost or stolen puppy with its owner.
Bullishly Bred is working to bring change to the world of pet ownership and dog breeding with its immutable blockchain-based registry– a universal standard for recording the very important details of a pet’s health, origin, ownership, and more.
“NFTs have immense potential but are solely used for a single purpose and purely used for speculation. There is more to the technology behind NFTs – it provides a mechanism for storing information on the blockchain that cannot be manipulated and is publicly transparent,” said co-founder Megan Barraford.
As a result, Bullishly Bred plans to establish an inclusive pet exchange where all breeds – including designer breeds (Sheepadoodles) or health-tested exotic colors (merles) – will be registered, contributing to reducing backyard breeding by ensuring DNA, ownership, and a publically accessible genealogy.