UFC Will Launch New Fan Token $UFC: Report

UFC will launch a new fan token dubbed $UFC, less than a month ago after the Ultimate Fighting Championship Endeavor parent company went public on the New York Stock Exchange as reported previously in our cryptocurrency news.

This week, more news is coming in as UFC announced their goal of minting their own UFC fan token in June. In releasing the UFC token, the league partnered with entertainment and sport blockchain specialists Chilliz. Chilliz and Socios partnered to allow fans to buy branded fan tokens from major sports teams. Up to this date, chilliz partnered with the major European soccer clubs including Juventus, Paris Saint Germain, and FC Barcelona among others. The company stated that Formula One and esports teams expressed interest in working with them as well.

The UFC will launch their token with Chilliz on the Socios platform and will offer a supply of twenty million tokens. The New Jersey Devils also joined the platform as the first North American sports team to do so. The SVP of UFC Global Consumer Products Tracey Belczinski stated with the press release that the UFC is looking for ways to increase engagement with the fans and cited the fan tokens as the best way to connect with the fans via a “compelling, authentic product that brings them closer to UFC and gives them influence while also rewarding the passion for the sport.”

This is not the first fan token for the major league of course and it isn’t the only way teams and leagues are trying to leverage blockchain technology in order to engage with their fans either. Another blockchain-driven engagement is increasing as well with teams partnering with crypto exchanges to leagues that are also forming their own NFT collections.

The UFC is looking to use the fan token to engage with the fans by offering exclusive content, VP rewards, and rights. The league announcement included other potential features like chat forums, AR features, and competitions. The UFC will be the second MMA league to engage with the fan tokens like the Professional Fighters League that released their own last month. The PFL token enables the fans to vote on the next headline fighters and to get to signed memorabilia as well as meet and greet with the fighters.

The  UFC is looking to release the coin on Socios In June after the partnership announced earlier this year with Stake.com.