There may be a lot of things that Mike Tyson is known for but, to heavyweight boxing fans, he is one of the greatest fighters of all time. Now, the former champion of the world has a new entertainment platform developed using blockchain technology: Fight for Fame.
The design of this new site is truly something to behold. Using blockchain technology, the multipronged platform not only allows participants to move their way up the fighting ranks, but to also instantly upload results to their social media accounts, plus play in live matches and even bet.
Mike Tyson served as the founder and chairman of the sports and competition committee for Fight to Fame. Also included in the development are CEO Farzam Kamalabadi and two time Emmy winner Tim Smithe, who will serve as the television producer. This means that the new platform will show live boxing matches, using the artistic design of Smithe.
Explained the former heavyweight fighter in a statement, “As a seasoned fighter, I want to mentor future generations, especially future action stars and make sure there’s a path to career success and fair compensation. Building this global platform for them is a passion of mine.”
Of course, the key to the success of this venture is the technology being employed. This is why Stan Larimer was included as the cryptocurrency and blockchain expert. Added Kamalabadi about this part of the innovation, “This is about wealth generation from the masses, but back to the masses through all the participants and stakeholders. So, it is not just win-win. This is multiple wins for all the stakeholders.”
The platform will use a fan token economy, which it is hoped will drive engagement and encourage people to become part of the project. Both Smithe and Kamalbadi noted that successful platforms, such as the Ultimate Fighting Championship, earn fighters as much as 15% of the total fees related to a match.
The design is to help fighters to be able to keep more of the money. While hoping to become a superstar in their own right, these types of payouts could help a person become quite successful financially. Using blockchain technology not only provides a secure platform but gives fighters and other participants a transparent location to review all materials.
When exactly the platform will be available to all participants was not provided, but it is expected that the fan token offering will be released by the end of this year.
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