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World’s largest mixed martial arts association in the world, the Ultimate Fighting Championship (UFC) is about to launch its own blockchain-based fan token.
It was announced on Tuesday that the UFC Fan Token will first become available on fan engagement and rewards app Socios.com in June. The token will be minted on Chiliz blockchain and is capped at a maximum supply of 20 million tokens.
As with other fan tokens from Chiliz and Socios, the UFC fan token is an opportunity to enable new fan engagement opportunities such as access to exclusive content, fan voting, VIP rewards, promotions, competitions and others.
“UFC has more than 625 million fans around the world, 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,” UFC senior vice president of global consumer products Tracey Bleczinski said.
There will be no pre-sale elsewhere and the UFC tokens will be exclusive on the Socios application, Chiliz and Socios CEO Alexandre Dreyfus confirmed.
The UFC is part of the Endeavor group and has been expanding in the crypto space vigorously. Recently some of its plans became public after the UFC submitted trademark applications for a UFC-branded cryptocurrency and NFT application.
Last year, UFC and Chiliz already started its collaboration to allow UFC fans to use Chiliz’s native token CHZ for experiences and rewards. In March crypto sportsbook Stake.com became the UFC’s official betting partner for South America.
The UFC is one of the first organizations in the United States to launch a fan token using the Chiliz and Socios’ ecosystem. The collaboration will do both parties good. On the one hand UFC can significantly extend its brand awareness globally. On the other hand, the deal will help Socios get a jump start on U.S. territory.