- Ultimate Fighting Championship (UFC), is launching its blockchain-based fan token.
- The token will be available on the Chiliz blockchain, going live in June.
- UFC tokens will open only on the Socios app with no pre-sale anywhere else.
In a move to strengthen its footing in the blockchain industry, the UFC formally announced a UFC fan token launch on fan engagement and rewards app Socios.com. Also, they said that the token will be minted on the Chiliz blockchain. Going live in June, the token will have a max supply of 20 million tokens.
UFC senior vice president of global consumer products, Tracey Bleczinski said.
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.
According to Chiliz and Socios CEO Alexandre Dreyfus, UFC tokens will be open only on the Socios app. As such, there is no pre-sale anywhere else.
Last year, UFC and Chiliz announced a partnership to enable UFC fans to use Chiliz’s native token CHZ for experiences and rewards. Not just this but the UFC has only recently developed its presence in the blockchain and crypto industries. In addition, they have signed a private partnership with crypto-powered online sportsbook Stake.com in March 2021.
Further, UFC is one of the first sports businesses in the US to use Chiliz and Socios’ ecosystem to launch a fan token, marking an important milestone in their global expansion. This update comes only two months after Chiliz declared a $50 million development plan for the US.