Blockchain technology is finally achieving mainstream status, as specialists and experts predicted at the start of the year. With each passing day, more banks, governmental institutions, celebrities, businesses, and even athletes are becoming involved with the distributed ledger.
This time around, American boxing icon Mike Tyson is joining the party, as he is choosing the blockchain for his newest venture. He is in front of a blockchain-powered entertainment platform, made for the newest generation of fighters around the world.
Meet the “Fight to Fame” Entertainment Ecosystem
According to a report from VentureBeat in recent hours, the “Fight to Fame,” which is the name of the entertainment ecosystem, intends to serve as a catapult for upcoming boxers to showcase themselves and their abilities whilst taking advantage of the innovative blockchain technology.
The Fight to Fame project will use blockchain with the objective of showing fighters’ talent via social media, film, reality TV, games, live matches, and even betting. All in all, a curious, but potentially promising way of launching a prospect’s professional career.
The venture actually combines two of Tyson’s most obvious passions: boxing and the cameras. After his sporting days expired in 2005, he showed an interest in acting and even had a couple of roles in specific productions.
“Iron Mike,” as he is often called, will be the project’s chairman and is the founder, with Farzam Kamalabadi, Tim Smithe, and Stan Larimer also in the team. The latter is the crypto and blockchain expert.
Tyson explained the project in a statement: “As a seasoned fighter, I want to mentor future generations, especially future action stars and make sure there’s a path to career success and fair compensation. Building this global platform for them is a passion of mine.”
The “fair compensation” point, per Kamalabadi, is powered by the blockchain’s benefits thanks to an ecosystem that “solves the empowerment that didn’t exist in the internet era. This is about wealth generation from the masses, but back to the masses through all the participants and stakeholders. So it is not just win-win. This is multiple wins for all the stakeholders.”
With the goal of driving engagement with the project, the developers will launch a fan token economy. It will also help the fighters enjoy their earnings, but also fans and other companies involved. The team notes that, in the specific case of the Ultimate Fighting Championship (UFC,) the fighters, which are the ones showing their talents for the entertainment business to properly function, are left with just 15% of their cut after fees are deducted.
There are not a lot of details about the digital currency at the moment, but according to the team, there will be in the not so distant future. However, it will purportedly confer voting and betting rights to those who hold it.
Tyson is a former boxing champion. He was once regarded as the undisputed world heavyweight champion and is the youngest fighter to win a belt, at 20 years old. He retired in 2005 with a professional record of 50-6, with 44 knockouts. He is now 53 years old.
By Andres Chavez