Blockchain
IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that goals to tokenize and assist the boxing business.
The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency trade Qmall to develop the Able to Battle platform. The browser-based platform makes use of blockchain expertise to assist boxers tokenize their manufacturers to obtain donations and investments in addition to a way to ship unique content material.
Able to Battle introduces a novel technique of supporting and connecting the broader boxing business. The platform includes a tokenomics ecosystem making use of its proprietary RTF tokens. Qmall is utilizing a fork of the Ethereum blockchain to develop the in-house platform.
#CRYPTO meets #BOXING! The groups of @usykaa, Lapin, & @QmallExchange unite to revolutionize the boxing business. @rtfight_com – the world’s 1st blockchain platform for boxing! Free registration and countless potentialities for boxers, followers, coaches.
https://t.co/DbsoDwuaGs pic.twitter.com/zrHRaISW8H— Alexander Usyk (@usykaa) March 23, 2023
Boxers and promising athletes are in a position to register on the platform. Upon creation of their tokenized identification, a provide of 1,000,000 identify tokens with a novel ticker is created. The boxer identify tokens are frozen till a particular launch by means of an preliminary dex providing (ICO) or till the boxer collects a certain quantity of donations.
Boxers are additionally obliged to reinvest earnings from the platform again into their boxing identify token inside 5 years. Boxer tokens are traded completely with the ecosystem’s RTF token, as are items and companies which can be provided on the Able to Battle platform. RTF tokens shall be out there by means of the Qmall trade.
A screenshot of the Able to Battle web-based platform, which already options various boxers.
The Qmall workforce informed Cointelegraph that the platform primarily offers customers a stake in a selected fighter’s potential success. The worth of the fighter tokens in relation RTF shall be depending on a fighter’s success as their careers progress and the elevated neighborhood curiosity.
Whereas followers and buyers may also help assist their favorite boxers by means of donations and identify token purchases, the ecosystem additionally guarantees to supply the performance for boxers to entry and pay for companies like skilled trainers, sparring companions, physiotherapists and nutritionists and brokers utilizing accrued RTF tokens.
Cointelegraph additionally reached out to Usyk to learn the way blockchain expertise can help boxers in funding careers in a career that has quite a few hurdles.
“The issue for a lot of aspiring boxers is that regardless that they’re killing themselves within the fitness center, they don’t have the connections or means to discover a workforce that may symbolize them and even when they do, most significantly, few can afford it.”
The 2012 Olympic gold medallist believes blockchain-powered platforms can degree the enjoying area, permitting boxers to construct new connections by means of a supportive neighborhood. Boxers can concentrate on coaching whereas the tokenomics of the ecosystem offers an avenue to fund their careers.
Usyk explains that the cryptocurrency area can be creating new alternatives for a variety of industries that weren’t potential 5 or ten years in the past.
“I perceive and respect the philosophy behind it – democratizing how folks use and transfer cash and companies, it’s altering the world and might create fairer techniques, with boxing being no exception.”
Usyk stated he would lean on Qmall’s experience as a cryptocurrency trade and NFT market supplier to iron out the particular tokenomics of the undertaking and its longevity.
The Qmall workforce additionally highlighted the platform’s concentrate on three key pillars, particularly social, commerce, and funding. The platform inherently capabilities as a social community and already options updated unique information, characteristic and evergreen content material curated by its editorial workforce. The platform additionally goals to be a supply of unique information and insider info from the boxing business.
A cell software for the platform is at the moment in growth for each Android and iOS units.
The 36-year-old Ukrainian heavyweight has beforehand tapped into the cryptocurrency area, launching an NFT assortment in August 2022 aimed toward elevating funds for the continuing battle with Russia in his nation.
