UFC Making Further Moves into the Crypto Realm!

By Cje95 | Chronic Illness and Crypto | 2 May 2021


The UFC had previously made its first foray into crypto and blockchain when it announced its partnership with Socios.com and the Chiliz blockchain. While their fan token has not been released yet the agreement has already been signed and it is coming down the pipeline. Fan tokens on Socios.com give owners of it the ability to vote on different poles. It also if you own enough of the fan tokens it is possible to get discounts on fan apparel. Since they signed this agreement last July it has been pretty quiet though when this would all be launched.

 

The UFC has though made another big move though and has filed for trademarks that show it is moving towards launching its own NFTs. The first of the two patients apply to a UFC branded cryptocurrency and the second one is for an app for the UFC branded cryptocurrency. This will allow for both non-fungible and fungible tokens. All of this leads me to believe that the UFC might be trying to create its own blockchain for NFTs and thus not have to deal with high gas prices. 

 

It will be interesting to see how this affects the upcoming fan token launch. It would make sense that the partnership is fine because the polls and everything that is really run on the Socios.com app is more or less fan voting things. When the Professional Fighters League launched its tokens the token allowed for owners of it to vote on different fights that they wanted on the main card. I could see the UFC utilizing the Chiliz blockchain while it launches its own NFT line. It would allow the company to focus on creating a good NFT product and knowing that the Chiliz blockchain is a good platform that can be relied on.  

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Cje95
Cje95

Graduated from Texas A&M in May of 2020 had dabbled in crypto since 2017 but dove in at the end of 2019. December of 2020 packed up and moved to D.C.! Huge sports fan, space nerd, and international newsreader! Follow me on Twitter @Cje95_


Chronic Illness and Crypto
Chronic Illness and Crypto

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