Digital collectibles coming to UFC – fans to earn token rewards

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys playing cricket,… read more.
on May 6, 2021
  • UFC says launching a fan token is a unique way to connect with its more than 625 million fans.
  • $UFC tokens will allow token holders to participate in some decision-making processes.
  • Chiliz provides blockchain services to companies in the entertainment and sports industries.

Ultimate Fighting Champion (UFC) has taken a giant stride to provide its teeming fan base access to exclusive content. The world’s largest MMA promotion has partnered with Chiliz (CHZ) to roll out its fan token, offering rights and rewards to fans using blockchain technology.

The maximum supply of 20 million fan tokens

UFC also said the $UFC fan token will be launched next month, with about 20 million tokens offered. Blockchain company Chiliz will be enabling the token’s distribution and rewards payment. The blockchain company has a strong presence as a service provider in the entertainment and sports industries.

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According to UFC, the move will increase fan engagement among millions of fans all over the world.

Chiliz has partnered with several other soccer teams in the past, including AS Roma, Paris Saint-Germain, and FC Barcelona.

The tokens are run by the $CHZ cryptocurrency, which can be purchased on the Socios mobile app and Socios.com marketplace.

UFC holders to gain voting rewards

Once the feature is launched, token holders can participate in some decision-making process by voting on some topics affecting the UFC community. They also have rewards with points for their votes.

UFC says it has over 625 million fans all over the world, and the launch of Fan Tokens offers a unique way to connect with them.

UFC has also partnered with another digital fan token platform in the past. Earlier this year, it entered into a licensing agreement with Dapper Labs for UFC-branded digital collectibles.

Founder and Chief Executive Officer of Socios, Alexandre Dreyfus, has commented on the development.

He said the partnership has given UFC wider access to millions of fans all over the world and get them to participate in its affairs. This has created “an unprecedented opportunity to attract new followers,” Dreyfus reiterated.

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