Mixed martial arts league UFC plans to launch a fan token

Mixed martial arts league UFC announced that it would launch a fan token in June 2021. UFC and sports-focused blockchain platform Chiliz became partners last year. They plan to mint $UFC tokens on the Chiliz blockchain.

Chiliz’s token platform Socios.com focuses primarily on European soccer teams. The platform enables them to mint their own fan tokens. Afterward, supporters use those tokens to cast votes on club decisions, as well as act as an additional revenue stream for teams.

According to the company, $UFC will give its owners access to VIP rewards, along with exclusive promotions, fan voting, and chat forums. Soccer clubs like FC Barcelona and Manchester City are already using similar tokens.

Tracey Bleczinski, Senior Vice President, UFC Global Consumer Products, stated that UFC has more than 625 million fans worldwide. Fan Tokens are an excellent way to connect with them through a interesting and authentic product. UFC tokens will bring fans closer to UFC and give them influence while simultaneously rewarding their passion for the sport.

UFC aims to expand further outside of Europe and hopes that by partnering with Chiliz and Socios.com it will achieve this goal easier. Chiliz has announced that it would focus on bringing fan tokens to the U.S. this year. It also devoted at least $50 million to state-side projects.

Furthermore, holders of Chiliz native token, $CHZ, will receive exclusive UFC offers. The UFC noted that it would also explore blockchain applications that could help grow the UFC brand.  

YFX DEX Governance Token will be available from tomorrow

YFX is the first decentralized cross-chain perpetual contract trading platform worldwide. It announced that all is set for its token launch on May 6, 2021. The platform has been preparing for this launch for the past year.

YFX utilizes four different blockchains currently, along with xDAI on Ethereum. The team is trying to keep fees low. Besides, YFX DEX runs more efficiently than all competitors thus far. Investors can utilize the Ethereum, TRON, BSC, or HECO blockchain. Polkadot and OKEx chains are also willingto optimize the trading experience even further.

With other governance tokens proving successful, including Uniswap’s $UNI, the YFX team decided to give their users the same opportunity to share in the DEXs success. They will enable voting rights with their own token $YFX.