Less than a month ago, UFC – Ultimate Fighting Championship’s parent company, Endeavor, had been listed for public trading on NYSE (New York Stock Exchange). This week passing, the largest MMA company in the world released another hit news as they reveal plans to generate their native fan token ($UFC) in June.
UFC Collaborates with Chiliz
For the materialization of the fan token mint, the company collaborated with entertainment and sport blockchain experts, Chiliz. Chiliz takes advantage of collaborated partners to allow the fans to acquire customized tokens from renowned sports teams. Up to date, Chiliz has worked with big names in the sports industry, especially the European football clubs, including France’s Paris Saint Germain, Italy’s Juventus, and Spain’s FC Barcelona, among many others.
The company has also revealed that esport teams and Formula One have revealed their interest to work with them. The company currently used an on-platform currency, $CHZ.
The Ultimate Fighting Championship will launch their fan token with Chiliz on the Socios platform and will begin with offering twenty million tokens in supply. The New Jersey Devils of NHL also became a part of the Socios platform recently as the first North American sports club to achieve that feat.
Engagement with Fan Tokens
Tracey Bleszinski, the SVP of the Ultimate Fighting Championship Global Consumer Products, stated in a press release that the desire of the UFC is a continuous engagement with the fans. He mentioned that the release of the fans token is targeted towards connecting with the fans through a captivating and authentic product that will bring them closer to UFC and confer influence on them while profiting from their passion for the sport.
Of course, for a major league, this is not the pioneer fan token, neither is it the only way leagues and teams are exploiting blockchain technology to keep the fans engaged. On the other hand, the engagement driven and inspired by blockchain is on the rise, from teams collaborating with significant crypto exchanges to leagues creating their customized non-fungible token collections.
The Next Generation Fan Engagement
The Ultimate Fighting Championship aims to use the fan token to keep the fans engaged by offering VIP rewards and exclusive rights and contents. The announcement made by the league also includes other promising features like AR-powered features, competitions, and chat forums. The UFC will become the second MMA league to sought fan engagement with fan tokens after the Professional Fighters League that released theirs last month. The PFL token allows the fans to receive signed relics, vote for the next headline fighters, and meet with the fighters.
The official release of the UFC token also comes with a partnership with Stake.com, a crypto betting company that works across Latin America and Asia currently.