The UFC is expanding its reach beyond the world of mixed martial arts by getting involved in the cryptocurrency economy.
What can be expected from UFC’s new cryptocurrency?
The world’s largest MMA promotion recently partnered with cryptocurrency and blockchain provider Chiliz, with plans to mint its own tokens in the near future. The UFC announced on its website that the “$UFC Fan Token” will be available on the fan engagement and rewards mobile application Socios.com next month.
UFC wrote, “The $UFC Fan Token is scheduled for launch on Socios.com in June and will have a maximum lifetime supply of 20 million.”
The development is expected to boost fan engagement and improve the viewing experience of UFC fans worldwide. Fighters with tokens will be able to participate in UFC-related polls and surveys via Socios.com. In addition, those who buy $UFC Fan Tokens will have access to VIP rewards, exclusive promotions, AR-enabled features, chat forums, and games.
Alexandre Dreyfus, CEO of Chiliz and Socios said, “By partnering with Chiliz, UFC now has access to a captive audience of fans from some of the biggest sporting organizations on the planet, creating an unprecedented opportunity to attract new followers.”
Since 2016, Chiliz has provided cryptocurrency and blockchain services to the sports and entertainment industries. The UFC will be one of 26 major sporting organisations to collaborate with the provider. The MMA promotion will compete alongside European football clubs FC Barcelona, Juventus, Paris Saint-Germain, AS Roma, and Manchester City.
The UFC-exclusive cryptocurrency will allow fans to purchase exclusive content from the promotion. Furthermore, by voting with their tokens, UFC fans will be able to influence some aspects of a fight.
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