The UFC is Planning to Join the NFT Movement

The UFC is Planning to Join the NFT Movement

The UFC (Ultimate Fighting Championship) has become the world’s biggest promotion for Mixed Martial Arts, and now it’s getting ready to take things to the next level – by selling NFTs. So far there have been two trademarks filed by the UFC. The first one to notice them is Josh Gerben, the founder of a law firm by the name of Gerben Intellectual Property.

The first trademark that was filled is for UFC to launch its own cryptocurrency. The trademark application is created to make room for both non-fungible and fungible tokens at the same time. The official application encompasses the following “cryptocurrency services, namely, providing a digital currency, digital token or non-fungible token for use by members of an online community via a global computer network.”

The UFC is Planning to Join the NFT Movement

The second trademark would serve to provide an app that can be used with the UFC cryptocurrency. Basically, the users would be able to access, trade, receive and manage multiple assets such as non-fungible tokens, digital currencies, digital assets, digital collectibles, and digital tokens. Both of the trademarks were filed with the USPTO (United States Patent and Trademark Office).

The UFC and Crypto

Owners of the biggest sports betting platforms, such as Walid Al Fahad from arabwinners, are looking forward to the biggest move in the MMA industry since Dana White became the president of the UFC. And as the UFC is just starting to dip its toes in the NFT waters, we will have you know that Francis Ngannou, the current UFC World Heavyweight Champion, has released several NFTs so far. What’s shocking is that he earned a bigger amount of money for releasing the NFTs ($58k) than what the UFC had offered him for defeating the former heavyweight champion, Stipe Miocic.

Although the patent application has only been recently made, the UFC promotion has already started working on a plan to involve their most known fighters in the blockchain (such as Conor McGregor). The folks at Dapper Lavs have started collaborating with the UFC in early 2020 regarding this project and the goal is to create a series of digital collectibles with all the famous fighters that have been part of the promotion over the years.

The Continued Merger of Sports and NFTs

So far, all the major sports in America have made the jump and boarded the NFT train – basketball, baseball, and American football. If you’re not convinced about this move, we’ll have you know that NBA Top Shot (an online market where the users can purchase memorable moments from NBA’s history as NFTs) has already gained lots of popularity in the world of crypto. Besides this, players themselves have decided to join the movement as well, and get their fair share of the market.

For example, we have Jalen Suggs, a star player for Gonzaga and a very hot NBA prospect, who has released one of his most famous winning shots as an NFT (the game-winning short of his March Madness). Moreover, the Golden State Warriors have also released multiple NFTs representing their greatest moments as a team, as part of a special series.

Now let’s take a short trip to the NFL world, where you might want to know that a rookie trading card of Tom Brady (the seven-time Super Bowl champion) has been recently sold for an astounding value: $1.6 million in Litecoin. Tom Brady has chosen to also join the NFT wave and decided to launch his own platform for NFTs, which he did in collaboration with some of the biggest tech and sports companies – which include DraftKings, Apple, and Spotify

In the baseball world, the daughter of the legendary Red Sox player Ted Williams has also released her personal collection of NFTs, in an effort to pay homage to her father’s career. Following the auction, a big part of the proceedings was donated to a charity, which is a nice gesture.

The Future of Sports NFTs

There is a powerful alignment that keeps on growing between sports athletes, the teams, and the franchises. As we could witness the great profitability in the Golden State Warrior NFT move or the NBA releases, there is certainly a lot more potential waiting to be explored in this emerging industry. Now that the UFC is also joining the movement, it is clear that NFTs are here to stay and we will probably see more sports joining in.

It’s never too late to get up to date with the latest developments in crypto and NFT. Even if you’re not directly interested, the involvement of popular sports organizations, athletes, and celebrities can spark your curiosity. We hope that this article gave you more insight into the phenomenon and its correlation to the UFC and other sports.

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