The globally famous American boxer, Mike Tyson has decided to roll with the blockchain technology as an integral part of his new business venture that is coming up quite soon.
The new venture is called “Fight to Fame” which will include rookie fighters trying to climb their way towards fame through social media platforms, video games, some TV shows as well as betting operations supported by the community.
Tyson will be working very closely with Farzam Kalamabadi to develop a blockchain ecosystem designed to compensate not only the players themselves but the community that supports them and the company that facilitates the events.
Tyson mentioned in a comment that he is very happy to introduce a platform for fair compensation for all fighters. Kalamabadi added that fighters will get all of their winnings should they succeed, which is a massive step-up from the 15% of the prize after fees for normal fights.
It seems that “Fight to Fame” is planning to launch a utility token that will be influenced directly by the size of the community involved and the frequency of the fights as it will help overall trading volume, thus keeping the token relevant.
It’s not clear whether or not the token will be used to give the fighters tips or to simply place bets for “Fight of Fame”, but betting seems to be the core focus from the surface.
