UFC Takes the Fight to NFTs, Reportedly Plans Its Own Cryptoasset

[Hydrogen]

The Ultimate Fighting Championship (UFC) could soon become another league to start selling non-fungible tokens (NFTs) and launch a new cryptocurrency. The mixed martial arts (MMA) organization’s parent company Zuffa has reportedly filed several new trademark applications signalling its intent to jump on the trend.

Josh Gerben, Founder of trademark law firm Gerben Intellectual Property, recently tweeted that the UFC has submitted a number of filings to the US Patent and Trademark Office (USPTO). The filings suggest the league is planning to roll-out an app allowing users to manage cryptocurrency and NFTs, as well as a new UFC-branded cryptocurrency.

The latest development could spur a significant source of revenue for the UFC, similarly to how other North American sports leagues have used the NFT technology. These include the National Basket Association (NBA), which is offering digital collectibles under the NBA Top Shot brand. As of April 23, the marketplace attracted 460,000 collectors (a 100x increase year to date) who engaged in more than 4m marketplace transactions, according to the data from the league.

The Major League Baseball (MLB) is also taking part in the trend, as earlier this month, The Topps Company released its NFT collectibles that represent the company’s flagship annual baseball card collection.


"As collectibles enjoy a breakout moment with NFTs and blockchain technology, we can’t think of a better way to honor the legendary players from years past and look forward to the incredible careers ahead of today’s stars and breakout rookies," said Evan Kaplan, Managing Director of MLB Players.

Meanwhile, according to some observers, the UFC’s recent move could be connected to the initial public offering (IPO) of the league’s owner, entertainment group Endeavor. The group’s shares rose 12% during their trading debut on the New York Stock Exchange on April 29, before back-stepping down. Through selling some 21.3m shares at USD 24 each, Endeavor raised about USD 511.2m, with a valuation of USD 10.8bn.

“Very suspect the week of their IPO. A few thousand in legal fees to pump the stock. It may be true but the timing is suspect. The UFC have used trademarking IP for earned media in the past,” commented a Twitter user who goes by the name of Oisin Quinn, adding that “they are in a great spot to make money on the NFT space as the UFC owns all the fighters rights anyway.”

....


First we had professional athletes requesting to be paid in bitcoin.

Now it appears sports leagues and promotions are thinking about including NFT and crypto support for their fanbases.

NFTs are a new form of collectible and sports like baseball and american football have long thrived upon cards and other collectibles. Which could make the transition to digital NFTs a natural one.

Would anyone here be interested in sports NFTs issued by sports leagues like major league baseball (MLB) or ultimate fighting championship (UFC)?

I can't even imagine how crazy that would be if this became a reality.  

[goinmerry]

Would anyone here be interested in sports NFTs issued by sports leagues like major league baseball (MLB) or ultimate fighting championship (UFC)?

Yes especially if you really an avid fan of that sports. There are diehard UFC fans that will surely try to get a piece of these NFTs. Not just on planning to sell it later on but these collections are limited.

Just recently in NBA, Golden State Warriors also released their own NFT collections, the first time in the league. If only I have a budget for it, I will get one.

[YuginKadoya]

I can't even imagine how crazy that would be if this became a reality.  

I think it can become a reality now we have NBA Top Shot that let's you collect NFTs of your favorite NBA players best shot on digital cards, and like NBA cards I think it is popular and many are initially buying when a pack gets out and it will be available in a limited quantity only that is why the value will surely increase,

And now I think UFC NFTs will be a click for UFC, NFT, Crypto, and gambling fans that will surely let their hands on some digital asset of the UFC fighter, 

[cabron]

Deso anyone else prefers UFC meme instead of NFT?

NFTs are going to make photography really attractive for photographers I'm starting to think of getting such skills to earn big with NFTs and may attend UFC nights just to take photos and then sell as NTF. Gonna be a good start of careers. I'm up for it. But why is this thread on Gambling?

[Kong Hey Pakboy]

Deso anyone else prefers UFC meme instead of NFT?

NFTs are going to make photography really attractive for photographers I'm starting to think of getting such skills to earn big with NFTs and may attend UFC nights just to take photos and then sell as NTF. Gonna be a good start of careers. I'm up for it. But why is this thread on Gambling?

This will be like the NBA Topshot NFT, I assume because there is no other way that I can think of that they can do an NFT related to their league, maybe a fighter card like those baseball cards but I don't think that they are going to go down that path.

[Wexnident]

Huh, guess everyone's jumping on the trend now, though it's rather understandable. With the amount of attention NFTs have gotten, plus the number of profits a company could get from that, even I would enter it. There would be quite an amount of avid fans jumping in on the chance to buy it out, pretty much expecting most sports to actually enter the scene now.

Rather curious what they would do with their creation of a crypto asset though. Was there any other sport that has done the same?

NFTs are going to make photography really attractive for photographers I'm starting to think of getting such skills to earn big with NFTs and may attend UFC nights just to take photos and then sell as NTF. Gonna be a good start of careers. I'm up for it. But why is this thread on Gambling?

Well, the best shots would still be obtained by the organizers themselves. Also, it's probably here since it's sports-related maybe?

[shoreno]

Yes especially if you really an avid fan of that sports. There are diehard UFC fans that will surely try to get a piece of these NFTs.

just dont be shock with the price because nft version of these collectibles are for sure expensive

Not just on planning to sell it later on but these collections are limited.

limited and rare can make them become expensive . this makes them a good investment not just for the fans of the sports  .

Just recently in NBA, Golden State Warriors also released their own NFT collections, the first time in the league. If only I have a budget for it, I will get one.

nba is what im trying to say but good thing they already have thier own nft . i have a friend that collects nba cards and i might recomend to him the nft version of it .

[DoublerHunter]

^ I still remember the day when Wonder Woman’s NFT has been sold for a very good price. It was really a closed sale as I never believed it to be done before it happened. NFT will become successful if associated with Sports leagues. Why? Fans are international, people have groups, teams, and sides they support. NFT or crypto assets would become a thing I can tell. UFC would have a very good decision if this will push through. They have a lot of fans who would die-hard to collect the NFTs UFC would give.

[avikz]

Lol! It's really feels sad to see the world moving towards a craze that yields nothing at the end of the day. Celebrities and big brands are just milking money out of the common people's pocket and some stupids are clapping to its success. Really saddened to see such useless things are getting popularity too.

A digital art means nothing in the real world. Protect and HODL your ETH, that may make you millionaire in some day, NFTs won't. The faster you will understand this reality, the better!

[Obito]

Lol! It's really feels sad to see the world moving towards a craze that yields nothing at the end of the day. Celebrities and big brands are just milking money out of the common people's pocket and some stupids are clapping to its success. Really saddened to see such useless things are getting popularity too.

A digital art means nothing in the real world. Protect and HODL your ETH, that may make you millionaire in some day, NFTs won't. The faster you will understand this reality, the better!

Let them have it to be honest, NFTs are here to stay but I don't think that it will be profitable as much as of now than what happens in the future prices. I don't hodl any NFT since they are criminally expensive but I think that we should be supporting it because this is the same argument that people used back when bitcoin wasn't worth a lot.

[rhomelmabini]

I can't even imagine how crazy that would be if this became a reality.  

I wouldn't be surprised if collectors will flock that Khabib NFT or only those prominent in this space, just my two cents.

Deso anyone else prefers UFC meme instead of NFT?

Well, as long as it has the ownership signature and verifiable that's fine but actually meme are cool and just recently this "Disaster Girl" meme was sold for $500k https://www.nytimes.com/2021/04/29/arts/disaster-girl-meme-nft the good thing is that she used it to pay her debt and donate some of it to charity/ies.

[ReiMomo]

I’m just expecting that these NFTs could be converted to a fungible collection as well, that would be the best killer right there. NBA already started the craze, it has become a very successful project I can tell, so I can see that UFC made the right decision.

They have a big fan base even though it is a very serious sport. The good thing about it is that they won’t even lay a hand promoting it, Fans will be the ones who will be getting it right away. The price of these NFTs will I guess also become volatile in the future. Authenticity will never be the problem here, I can tell.

[AicecreaME]

Oh wow, seems like cryptocurrency are making it's move already in touching people's heart during this time of pandemic where people started to love life practically. UFC adopting NFT (which is the newest in the cryptocurrency world) as well as starting to make their own cryptocurrency will lead to more pumps in the market, I think bull market will definitely run through all over the year just like what they are saying.

For sure what they will do next is to make their own sport betting site using their cryptocurrency or main cryptocurrency like Bitcoin and Ethereum.

[LubovOF]

Nft cards related to sports and video games will gain more popularity than NFT exchanges or something else. Just usually collect items in games and famous athletes

[Gayong88]

yes, you are right sir, and will boom. this will be a warm conversation to always be discussed. I also heard that Khabid has also released about his profile in the form of selling NFT cards with several options at once to commemorate Khabib's retirement from UFC.

[Febo]

UFC Takes the Fight to NFTs, Reportedly Plans Its Own Cryptoasset

This is great use of NFT or blockchain asset. Any collectables or being used in games are perfect usecase. Without that NFT are useless. Without having some game or story behind it. Hopefully people will not lose to much money before realising this.

[goinmerry]

nba is what im trying to say but good thing they already have thier own nft . i have a friend that collects nba cards and i might recomend to him the nft version of it

As of the moment, it's only Golden State Warriors that released their own edition of NFT.

Not easy to acquired one so good luck recommending it to your friend. One collection are now ranging to around $98,074 as of I'm typing this.

[BitTraderCute]

yes, you are right sir, and will boom. this will be a warm conversation to always be discussed. I also heard that Khabid has also released about his profile in the form of selling NFT cards with several options at once to commemorate Khabib's retirement from UFC.

its good news if more popular person release their own NFT. they could attract their follower to join in cryptocurrency as a part , no matter will be investors or maybe NFT creator or developers too. when UFC decided to release NFT for their athlete , it give huge impact. we can imagine how much thier audience and some of them a part in this market.

[YuginKadoya]

yes, you are right sir, and will boom. this will be a warm conversation to always be discussed. I also heard that Khabid has also released about his profile in the form of selling NFT cards with several options at once to commemorate Khabib's retirement from UFC.

its good news if more popular person release their own NFT. they could attract their follower to join in cryptocurrency as a part , no matter will be investors or maybe NFT creator or developers too. when UFC decided to release NFT for their athlete , it give huge impact. we can imagine how much thier audience and some of them a part in this market.

Not all popular person can release their own NFTs I think this is only applicable with popular sports personnel just like NBA and UFC, it is certainly been brought up to games because the collection of NFT on games is massive and creating an amount of NFT comes from the vast mind of idea, so it is easy, and basically not all popular can afford in doing so, but all can have a chance in getting their unique NFT that may become profitable in the future.