With the blockchain and cryptocurrency craze catching up, the UFC have decided to launch their own Fan Token
UFC will join European Football behemoths, Paris St-Germain, Barcelona, AC Milan and Manchester City, as they have partnered with blockchain fintech provider Chiliz in a bid to launch their own Fan Token.
The UFC took to their official website to make this announcement, earlier today.
The Fan Token is developed using the Chiliz Blockchain, and fans will be able to avail rewards on the app Socios.com, through fan polls, VIP rewards, games, chat forums and many more.
The Chiliz’s twitter page too welcomed the MMA promotion to their blockchain.
Currently headquartered in Malta, Chiliz is looking to expand across Europe and also across other continents like America and Asia. The Chiliz token is currently hovering around half a dollar.
UFC’s parent company Endeavor Group Holdings filed for IPO this April, after attempting to do so once in 2019. This time it turned out to be successful, and the company debuted in the New York Stock Exchange, last Thursday at $24 per share.
And, in just two days after its IPO, the Endeavor owner are believed to have raised around $511 million due to the quick increase in share price.
A lot of fight fans have jumped on the bandwagon as well, buying as many shares as they can. It is believed to be a good long-term investment as Endeavor Group Holding is very strongly supported and backed by their pillar- UFC.
The share is currently trading at around $31.52 and is believed to follow an uptrend for a while.
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