The Ultimate Fighting Championship (UFC) is teaming up with Chiliz, a developer of unique digital assets for the sports world, to create a dedicated fan token.
The token was revealed earlier this week and moving forward, consumers and UFC fans will be able to access it through the Socios.com rewards app.
The UFC Fan Token will launch in June. There will be a limited supply with 20 million tokens in circulation. The UFC will use the token to enable fans to gain insight into events, get exclusive content, VIP rewards, promotions and competitions.
UFC SVP of global consumer products Tracey Bleczinski praised the functionalities of a fan token and what it has to offer.
“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”, Bleczinski said.
Chiliz and Socios CEO Alexandre Dreyfus welcomed the news of the UFC family joining the blockchain-powered platform. However, this is not the first time that the UFC and Chiliz have collaborated.
Last year, UFC fans could use the Chiliz native token to access various rewards, similar to what the dedicated UFC token will do. The news of the UFC embracing crypto comes at a time when more sports franchises and bodies, including the National Football League (NFL) are looking for a foray into crypto.