Blockchain
IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that goals to tokenize and help 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 know-how 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 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 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 title tokens with a singular ticker is created. The boxer title tokens are frozen till a particular launch by means 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 providers which are provided on the Able to Battle platform. RTF tokens might be obtainable by means of the Qmall trade.
A screenshot of the Able to Battle web-based platform, which already options a variety of boxers.
The Qmall workforce informed Cointelegraph that the platform basically provides customers a stake in a selected fighter’s potential success. The worth of the fighter tokens in relation RTF might be depending on a fighter’s success as their careers progress and the elevated group curiosity.
Whereas followers and buyers may also help help their favorite boxers by means of donations and title token purchases, the ecosystem additionally guarantees to offer the performance for boxers to entry and pay for providers like skilled trainers, sparring companions, physiotherapists and nutritionists and brokers utilizing accrued RTF tokens.
Cointelegraph additionally reached out to Usyk to learn how blockchain know-how 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 gymnasium, they don’t have the connections or capability 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 means of a supportive group. Boxers can deal with coaching whereas the tokenomics of the ecosystem gives an avenue to fund their careers.
Usyk explains that the cryptocurrency area can also be creating new alternatives for a variety of industries that weren’t doable 5 or ten years in the past.
“I perceive and respect the philosophy behind it – democratizing how individuals use and transfer cash and providers, 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 trade and NFT market supplier to iron out the precise tokenomics of the mission and its longevity.
The Qmall workforce additionally highlighted the platform’s deal with three key pillars, particularly social, commerce, and funding. The platform inherently capabilities as a social community and already options updated authentic information, characteristic and evergreen content material curated by its editorial workforce. The platform additionally goals to be a supply of unique information and insider data from the boxing business.
A cell utility for the platform is presently in growth for each Android and iOS gadgets.
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.
