It’s Time: UFC to Launch Fan Token for Millions Around the World

UFC, the world’s largest MMA promotion, is preparing to mint its own token. The company, which has played a key role in the rise of the combat sport’s popularity, now wants to provide a growing fan base with access to exclusive content, rights, and rewards using blockchain technology.

UFC Fan Token to Have a Maximum Supply of 20 Million

The Ultimate Fighting Championship (UFC) announced this week it’s going to launch the $UFC Fan Token next month. The coin will be minted in partnership with Chiliz, a blockchain company that provides services to the sports and entertainment industries. The move is expected to increase fan engagement among millions of fans around the world. UFC detailed on its website:

The $UFC Fan Token is scheduled for launch on Socios.com in June and will have a maximum lifetime supply of 20 million.

European soccer giants such as FC Barcelona, AC Milan, Paris Saint-Germain, and Manchester City are already working with Chiliz. The company has also held talks with Formula One and e-sports teams, according to a Reuters report, and its tokens are listed on Binance. The branded fan tokens, which can be purchased on its Socios.com platform and mobile app, allow holders to receive various engagement-based rewards and even influence their favorite teams through voting.

The network now has 26 partners, including the Professional Fighters League which issued its own token in April. The Socios.com platform is built and runs on top of the Chiliz blockchain infrastructure and fueled by its $CHZ currency. Fan tokens are minted using the Chiliz blockchain and smart contracts facilitate popular voting.

UFC Token for Over 600 Million Fans

UFC has more than 625 million fans around the world, according to an estimate quoted by Tracey Bleczinski, Senior Vice President, UFC Global Consumer Products. “We are continually looking for ways to increase engagement with our fans… and Fan Tokens are a unique way to connect with them through a compelling, authentic product that brings them closer to UFC and gives them influence, while also rewarding their passion for the sport,” Bleczinski noted.

Alexandre Dreyfus, CEO of Chiliz and Socios.com, added that the fan tokens will empower UFC to connect with its global following like never before. “We’re delighted to welcome UFC to our growing roster of Fan Token partners,” said Dreyfus, quoted in a press release by Chiliz. The Malta-based company continues its global expansion with plans to open new offices in Madrid, New York and Sao Paulo this year.

UFC has been the major promotion in mixed martial arts for decades, attracting most of the best fighters in the sport. The Las Vegas-based company organizes MMA events around the world. Under its long-term president Dana White, UFC has grown to a multi-billion dollar business and its brand name enjoys global recognition.

What do you think about UFC getting into fan tokens? Share your thoughts on the announcement in the comments section below.

Source: news.bitcoin.com