UFC partners with blockchain startup Chiliz to increase fan engagement

Layer 1s • May 7, 2020, 7:15AM EDT
UPDATED: May 7, 2020, 8:24AM EDT
Andre Luiz Moreira/Shutterstock

Ultimate Fighting Championship (UFC), the world's largest mixed martial arts organization, has partnered with blockchain startup Chiliz to increase fan engagement.

Announcing the news on Thursday, UFC said the partnership would allow its over 318 million global fans to access offers and rewards, including tickets to UFC events or pre-sale access to tickets.

Giving more details of the partnership, Chiliz CEO Alexandre Dreyfus told The Block that "CHZ token holders will have exclusive chances to the UFC Fight Island that should be announced in few weeks."

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"We will also work together on initiatives to engage and monetize UFC's global fan base and are also looking at tokenization of some fighters," said Dreyfus.

Specific details of offerings are expected to get announced in the coming weeks. Nicholas Smith, VP of global partnerships at UFC, said: "UFC continually strives to enhance the fan experience and we are looking forward to working with [Chiliz] on innovative and unique ways to achieve this goal.”

Chiliz has partnered with a number of notable sports clubs in the recent past. Earlier this year, it collaborated with Lionel Messi-led soccer club FC Barcelona and Cristiano Ronaldo-led soccer club Juventus. 

Founded in 2018, Chiliz raised over $60 million via a private placement that year, from investors including Binance. Chiliz generates revenue in CHZ by selling fan tokens.

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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.

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