$UFC Fan Tokens Set To Launch on Chilliz Blockchain

May 07, 2021, 9:30 AM AEST - 1 year ago

The world’s biggest mixed martial arts organization, Ultimate Fighting Championship (UFC) has officially announced its launch for a UFC fan token, in partnership with Chiliz.

UFC considers the creations of its fan token as one of the ways to connect and boost engagement with global fans.

$UFC Fan Token Set to Launch in June

The UFC Fan Token will be launched in June on Socios, a fan engagement and rewards mobile app which is co-founded with Chiliz. The token will be developed on the Chiliz blockchain, and only 20 million of $UFC Fan Token will ever exist.

We are continually looking for ways to increase engagement with our fans. […] 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.

Tracey Bleczinski, one of the officials at UFC, commented.

As with other fan tokens, holders of $UFC will be able to access some of the exclusive contents offered by UFC, including VIP rewards and fan voting opportunities.

The Fan Token Ecosystem is Growing Rapidly

Chiliz has seen immense growth in its fan token ecosystem. The growing network of Chiliz led to about a 7,000 percent increase in the price of Chiliz (CHZ) within three months.

It’s interesting to note that the sole purpose of increasing fans’ engagement is resulting in more adoption of cryptocurrency in the sports industry. UFC only adds to the list of major sports entities to launch a digital currency. In March, Crypto News Australia reported that Manchester City has also launched its fan token dubbed $CITY.

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