IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that goals to represent and assist the boxing trade.
The Olympic gold medalist has partnered with Ukraine-based cryptocurrency change Qmall to develop the Able to Combat platform. The browser-based platform makes use of blockchain expertise to assist boxers tokenize their manufacturers, obtain donations and investments, and supply unique content material.
Able to Combat introduces a novel technique of supporting and connecting the broader boxing trade. The platform incorporates a tokenomics ecosystem utilizing their proprietary RTF tokens. Qmall makes use of a fork of the Ethereum blockchain to develop its in-house platform.
#CRYPTO meets #BOXING! The @usykaa, Lapin and @QmallExchange groups unite to revolutionize the boxing trade. @rtfight_com – the world’s first boxing blockchain platform! Free registration and limitless prospects for boxers, followers, coaches.
https://t.co/DbsoDwuaGs pic.twitter.com/zrHRaISW8H
— Alexander Usyk (@usykaa) March 23, 2023
Boxers and promising athletes can register on the platform. When creating their tokenized identification, a provide of 1 million title tokens with a novel ticker is created. The boxer title tokens will probably be frozen pending a selected launch by way of an Preliminary Dex Providing (IDO) or till the boxer has raised a certain amount of funds.
Boxers are additionally required to reinvest earnings from the platform again into their boxname token inside 5 years. Boxer tokens are traded solely with the ecosystem’s RTF token, as are items and companies provided on the Able to Combat platform. RTF tokens will probably be out there by way of the Qmall change.
A screenshot of the Able to Combat web-based platform, which already options quite a lot of boxers. Supply: Battle Prepared
The Qmall crew informed Cointelegraph that the platform primarily offers customers a stake within the probably success of a selected fighter. The value of Fighter Tokens for RTF will depend on a fighter’s success all through their profession and will increase group curiosity.
Whereas followers and buyers can assist their favourite boxers by way of donations and shopping for title manufacturers, the ecosystem additionally guarantees to supply fighters the power to entry and pay for companies similar to skilled trainers, sparring companions, bodily therapists and nutritionists, and brokers through the use of collected RTF -Use tokens.
Cointelegraph additionally reached out to Usyk to discover how blockchain expertise might assist boxers fund careers in a career with quite a few hurdles.
“The issue for a lot of aspiring boxers is that regardless that they kill themselves within the gymnasium, they do not have the connections or the power to discover a crew that may characterize them, and even when, most significantly, few can afford it It.”
The 2012 Olympic gold medalist believes blockchain-powered platforms can level the enjoying discipline and permit boxers to forge new connections by way of a supportive group. Fighters can concentrate on coaching, whereas the ecosystem’s tokenomics present a option to fund their careers.
Usyk explains that the cryptocurrency house can be creating new alternatives for a wide range of industries that weren’t doable 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 modifications the world and might create fairer programs, boxing is not any exception.”
Usyk mentioned he would draw on Qmall’s experience as a cryptocurrency change and non-fungible token (NFT) market supplier to iron out the undertaking’s particular tokenomics and longevity.
The Qmall crew additionally emphasised the platform’s concentrate on three fundamental pillars: social, commerce and funding. Being a social community by nature, the platform already gives breaking authentic information, options and evergreen content material curated by its editorial crew. The platform can be meant to be a supply for unique information and insider data from the boxing trade.
A cellular software for the platform is at the moment being developed for each Android and iOS units.
The 36-year-old Ukrainian heavyweight has beforehand entered the cryptocurrency house, launching an NFT fundraiser in August 2022 geared toward elevating funds for his nation’s ongoing battle with Russia.