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UFC is the world’s largest MMA promotion and is preparing to mint its own tokens. The company has played a key role in the rise in the popularity of fighting sports and now hopes to provide a growing fan base with access to proprietary content, rights and rewards by using blockchain technology.
The Ultimate Fighting Championship (UFC) announced this week that it will launch $UFC fan tokens next month. The coin will be minted in cooperation with Chiliz, a blockchain company that provides services to the sports and entertainment industries. This move is expected to increase fan participation for millions of fans worldwide. UFC describes in detail on its website:
$ UFC fan tokens are planned to be launched on Socios.com in June, with a maximum lifetime supply of 20 million.
European football giants, such as FC Barcelona, AC Milan, Paris Saint-Germain and Manchester City, are already cooperating with Chiliz. According to Reuters, the company has also negotiated with Formula One racing and e-sports teams, and its token has been listed on Binance. Brand Fan Tokens, which can be purchased on its Socios.com platform and mobile application, enable holders to obtain various participation-based rewards and even influence their favorite team through voting.
The network now has 26 partners, including the Professional Warrior League, which issued its own token in April. The Socios.com platform is built and operated on the Chiliz blockchain infrastructure and is fueled by its CHZ currency. Fan tokens are minted using the Chiliz blockchain, and smart contracts can facilitate popular voting.
According to estimates by Tracey Bleczinski, UFC’s senior vice president of global consumer products, UFC has more than 625 million fans worldwide. “We are always looking for ways to increase interaction with fans… Fan Tokens are a unique way to connect with them through a fascinating and authentic product that brings them closer to the UFC and gives them influence, while also rewarding them for this Enthusiasm for sports”, Bleczinski pointed out.
Chiliz and Socios.com CEO Alexandre Dreyfus added that fan tokens will enable UFC to connect with its global followers in an unprecedented way. Chiliz quoted Dreyfus in the press release as saying: “We are delighted to welcome UFC to our growing list of Fan Token partners.” The Malta-based company continues its global expansion and plans to open new ones in Madrid, New York and São Paulo this year. office.
For decades, UFC has been the main promotion of mixed martial arts, attracting the best fighters in the sport. This Las Vegas-based company organizes MMA events worldwide. Under the leadership of its long-time president Dana White, UFC’s business has grown to billions of dollars, and its brand name is well-known worldwide.
What do you think of UFC’s entry into fan tokens? Share your thoughts on the announcement in the comments section below.
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