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 trade.
The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency alternate 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 method to ship unique content material.
Able to Battle introduces a novel technique of supporting and connecting the broader boxing trade. The platform incorporates 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 trade. @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 capable of register on the platform. Upon creation of their tokenized id, a provide of 1,000,000 title tokens with a singular ticker is created. The boxer title tokens are frozen till a particular launch by way of an preliminary dex providing (ICO) or till the boxer collects a certain amount of donations.
Boxers are additionally obliged to reinvest earnings from the platform again into their boxing title token inside 5 years. Boxer tokens are traded solely with the ecosystem’s RTF token, as are items and companies which might be supplied on the Able to Battle platform. RTF tokens will probably be obtainable by way of the Qmall alternate.
A screenshot of the Able to Battle web-based platform, which already options various boxers.
The Qmall workforce instructed 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 will probably be depending on a fighter’s success as their careers progress and the elevated group curiosity.
Whereas followers and buyers may help assist their favorite boxers by way of donations and title token purchases, the ecosystem additionally guarantees to offer 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 occupation that has quite a few hurdles.
“The issue for a lot of aspiring boxers is that though they’re killing themselves within the fitness center, they don’t have the connections or means to discover a workforce that may characterize them and even when they do, most significantly, few can afford it.”
The 2012 Olympic gold medallist believes blockchain-powered platforms can degree the taking part in discipline, permitting boxers to construct new connections by way of a supportive group. Boxers can deal with coaching whereas the tokenomics of the ecosystem supplies an avenue to fund their careers.
Usyk explains that the cryptocurrency house can also be creating new alternatives for a variety of industries that weren’t attainable 5 or ten years in the past.
“I perceive and respect the philosophy behind it – democratizing how individuals use and transfer cash and companies, it’s altering the world and may create fairer methods, with boxing being no exception.”
Usyk stated he would lean on Qmall’s experience as a cryptocurrency alternate and NFT market supplier to iron out the precise tokenomics of the venture and its longevity.
The Qmall workforce additionally highlighted the platform’s deal with three key pillars, specifically social, commerce, and funding. The platform inherently features 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 trade.
A cell utility for the platform is at present in improvement for each Android and iOS gadgets.
The 36-year-old Ukrainian heavyweight has beforehand tapped into the cryptocurrency house, launching an NFT assortment in August 2022 aimed toward elevating funds for the continued battle with Russia in his nation.
