Iconic American boxer Mike Tyson is spearheading a brand new blockchain-powered cross-entertainment platform for a new generation of fighters.

On Aug. 13, VentureBeat reported that the new venture — dubbed “Fight to Fame” — can use blockchain technology to underpin a brand new, multi-pronged platform that aims to catapult aspiring fighters to success via social media, reality TV, film, games, live matches and betting.

“Wealth generation from the masses”

While Mike Tyson can function as the founder and chairman of the sports and competition committee for Fight to Fame, the project conjointly counts FarzamKamalabadi as its chief executive officer, the two-time Emmy award winner Tim Smithe as its TV producer and Stan Larimer as its cryptocurrency and blockchain professional.

Tyson stated in a statement that:

“As a seasoned fighter, i need to mentor future generations, particularly future action stars and make sure there’s a path to career success and honest compensation. Building this international platform for them may be a passion of mine.”

Fair compensation, in line with Kamalabadi, is driven by a blockchain ecosystem that “solves the empowerment that didn’t exist within the internet era”:

“This is regarding wealth generation from the masses, however back to the masses through all the participants and stakeholders. Therefore it's not simply win-win. This can be multiple wins for all the stakeholders.”

A fan token economy will be launched so as to drive engagement as well as to reap the project’s gains for the fighters, fans and company alike.

Kamalbadi and Smithe noted that within the case of industry titans like the ultimate Fighting Championship (UFC), fighters usually walk away with simply 15 % of their take after fees.

Driving blockchain adoption

More details regarding Fight to Fame’s planned fan token offering are due to be released in future; the tokens can apparently confer betting and voting rights on their holders and form a part of a clear blockchain-based economy for the whole ecosystem.

As antecedently reported, this winter the Litecoin Foundation partnered with premier kickboxing league Glory to become the official cryptocurrency for its on-line merchandise platform and international events.

In fall 2018, French soccer club Paris Saint-Germain — that has been hailed as the country’s “most popular” team — had partnered with blockchain platform Socios.com to incentivize and monetize fan engagement and experiences via a token ecosystem.

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