Fightfi has expanded its partnership with the Ultimate Fighting Championship to develop blockchain-based fan products. Using the Fight.ID platform, the collaboration plans to introduce digital collectibles and engagement features for UFC fans worldwide.
The initiative illustrates the increasing use of blockchain technology in sports fan interaction, highlighting potential issues such as accessibility and environmental sustainability as organizations explore digital engagement tools.
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Blockchain-Based Fan Assets
On Sunday, Fightfi announced its expansion of its partnership with UFC to offer blockchain-based fan products using the Fight.ID platform. The companies plan to introduce digital collectibles and identity verification features. These initiatives provide additional ways for fans to engage with fighters and events, reflecting the growing adoption of Web3 technology in sports.
The collaboration will include NFTs and other blockchain-based digital assets offering verifiable ownership records. These items may also reduce counterfeiting risks compared with traditional memorabilia. UFC could benefit from increased fan interaction and potential revenue from merchandise or exclusive digital content.
Despite its potential, the project faces challenges. Blockchain transactions, particularly on Ethereum, require substantial energy, raising environmental concerns. Fightfi and UFC may adopt more energy-efficient blockchain solutions or implement offset initiatives. Ensuring broad access also remains an issue. Fans unfamiliar with blockchain technology may require educational resources and user-friendly interfaces to participate effectively.
Source: https://beincrypto.com/fightfi-expands-partnership-with-ufc-for-collectibles/