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 business.
The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency alternate Qmall to develop the “Able to Combat” platform. The browser-based platform makes use of blockchain expertise to assist boxers tokenize their manufacturers to obtain donations and investments, in addition to a method to ship unique content material.
Able to Combat introduces a novel technique of supporting and connecting the broader boxing business. 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 business. @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 identification, a provide of 1 million identify tokens with a novel ticker is created. The boxer identify tokens are frozen till a selected launch by way of an preliminary dex providing (IDO) or till the boxer collects a certain amount of donations.
Boxers are additionally obliged to reinvest earnings from the platform again into their boxing identify token inside 5 years. Boxer tokens are traded completely with the ecosystem’s RTF token, as are items and companies which are provided on the Able to Combat platform. RTF tokens can be out there by way of the Qmall alternate.
The Qmall group informed Cointelegraph that the platform primarily 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 might help assist their favorite boxers by way of donations and identify token purchases, the ecosystem additionally guarantees to offer the performance for boxers to entry and pay for companies like skilled trainers, sparring companions, physiotherapists and nutritionists and brokers utilizing accrued RTF tokens.
Cointelegraph additionally reached out to Usyk to learn the way blockchain expertise 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 health club, they don’t have the connections or means to discover a group that may symbolize them and even when they do, most significantly, few can afford it.”
The 2012 Olympic gold medallist believes blockchain-powered platforms can stage the enjoying area, permitting boxers to construct new connections by way of a supportive neighborhood. Boxers can deal with coaching whereas the tokenomics of the ecosystem supplies an avenue to fund their careers.
Usyk explains that the cryptocurrency area can be creating new alternatives for a variety of industries that weren’t attainable 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’s altering the world and may create fairer techniques, with boxing being no exception.”
Usyk mentioned he would lean on Qmall’s experience as a cryptocurrency alternate and NFT market supplier to iron out the precise tokenomics of the undertaking and its longevity.
The Qmall group additionally highlighted the platform’s deal with three key pillars, particularly social, commerce, and funding. The platform inherently features as a social community and already options updated authentic information, characteristic and evergreen content material curated by its editorial group. The platform additionally goals to be a supply of unique information and insider data from the boxing business.
A cellular software 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 continued battle with Russia in his nation.
