IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that goals to tokenize and assist the boxing trade.
The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency alternate 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 trade. The platform includes 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 trade. @rtfight_com – the world’s 1st blockchain platform for boxing! 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 are capable of register on the platform. Upon creation of their tokenized id, a provide of 1 million title tokens with a novel ticker is created. The boxer title tokens are frozen till a particular launch by means of an preliminary dex providing (IDO) or till the boxer collects a certain quantity 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 completely with the ecosystem’s RTF token, as are items and providers which are provided on the Able to Battle platform. RTF tokens will probably be obtainable by means of the Qmall alternate.
The Qmall crew informed Cointelegraph that the platform basically offers customers a stake in a selected fighter’s potential success. The fighter tokens’ worth to RTF will rely upon a fighter’s success as their careers progress and improve neighborhood curiosity.
Whereas followers and buyers may help assist their favourite boxers by means of donations and title token purchases, the ecosystem additionally guarantees to supply the performance for fighters 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 career with quite a few hurdles.
“The issue for a lot of aspiring boxers is that regardless that they’re killing themselves within the health club, they don’t have the connections or potential to discover a crew that may signify them, and even when they do, most significantly, few can afford it.”
The 2012 Olympic gold medallist believes blockchain-powered platforms can stage the taking part in area, permitting boxers to construct new connections by means of a supportive neighborhood. Fighters can deal with coaching whereas the tokenomics of the ecosystem gives an avenue to fund their careers.
Usyk explains that the cryptocurrency house can also be creating new alternatives for a variety of industries that weren’t doable 5 or 10 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 might create fairer programs, with boxing being no exception.”
Usyk mentioned he would lean on Qmall’s experience as a cryptocurrency alternate and nonfungible token (NFT) market supplier to iron out the precise tokenomics of the venture and its longevity.
The Qmall crew additionally highlighted the platform’s deal with three key pillars: social, commerce and funding. The platform inherently features as a social community, already that includes up-to-date unique information, characteristic and evergreen content material curated by its editorial crew. The platform additionally goals to be a supply of unique information and insider data from the boxing trade.
A cell utility for the platform is at the moment in improvement for each Android and iOS units.
The 36-year-old Ukrainian heavyweight has beforehand tapped into the cryptocurrency house, launching an NFT assortment in August 2022 aimed toward elevating funds for the continued battle with Russia in his nation.
