Ultimate Fighting Championship (UFC) has collaborated with collectibles company Panini America to release something fans have been waiting for, for a long time. Ultimate Fighting Championship is a martial art organization from Las Vegas. As per the reports of a leading sports news channel, UFC will soon release its first non-fungible token.
Reportedly, the collaboration will be a beneficial deal for the committee, players, and fans. UFC has decided to share 50% of the profit with the players featuring on the NFTs. As per the current market scenario, players are likely to earn substantially from the same. Compared to the merchandise, UFC is speculated to draw vastly more than what it used to earn with it.
NFTs are ragging in the market. However, the latest reports releasing NFTs are overwhelming. The sports and entertainment industry has understood the drift and is moving along with it. The speculations are high that NFTs are going to be the next big thing in the market.
According to Lawrence Epstein, COO of Ultimate Fighting Championship, the 50% share with the players is a well-thought decision of the committee. The drop will comprise some of the historical events that took place in the UFC octagon. It will also have the stars that have graced their presence in the same.
The deal with NFT has come together because the Ultimate Fighting Championship (UFC) and Panini have partnered. In January 2021, both companies came together to launch collective cards. The partnership has landed upon a gig that is going to benefit the world substantially. In March 2021, Francis Ngannou, UFC heavyweight champion, took the internet by storm. He sold NFT drop approximately for $580,000 in partnership with BossLogic.