- Fight token just concluded the second phase of its presale, recording success reminiscent of the first stage.
- The first phase was held on BSC Chain while the second was hosted on the Solana blockchain.
- The project will now turn its attention to its releasing its token and the creation of Fighthub, a platform for fan loyalty programs.
The Fight token, self-described as a “premier combat sports digital asset” developed by the Fight Foundation in partnership with FightFi, a Web3 platform that’s the official partner of the UFC, just wrapped up its Phase 2 presale on Holoworld with $183 million raised — a value that exceeds its original target of $1.5 million.
The Fight token is a beneficiary of blockchain-based sports engagement going mainstream, as it parlayed its crypto community and investor enthusiasm into its latest oversubscribed token presale round.
The tokenized fan experience pioneered by Chiliz, and initially focused on team sports, has expanded into the combat sports sector. Investors now appear to be betting on the Fight token and its ties to Polychain Capital-backed Holoworld as well as ties to the Ultimate Fighting Championship (UFC).
The exclusive partnership rights with the UFC are expected to last until 2028, placing $FIGHT as a utility token created to reward users for interacting with fight-related content and events.
The presale is the first to come from the Holoworld launchpad
The Fight token presale is the first major initial coin offering (ICO) from Holoworld, and it prioritized allocations for $HOLO stakers. Documents reviewed for this report indicated that presale was staggered in phases to manage high demand.
Phase two, which was launched exclusively on Solana on October 27, has just been concluded. Meanwhile, the first phase was conducted on the BSC Chain and wrapped up faster than anticipated, with roughly 2,000% oversubscription and $15 million in demand.
Participants received pro-rata distributions, and excess funds were immediately refunded. The second phase also employed an “overflow” mechanism, where excess demand triggered automatic refunds upon closure, to keep things fair.
The token launch is expected in November
With the second phase completed, what comes next on the Fight roadmap is token issuance, which is expected to happen in November as long as no regulatory hiccups come up. The presale has been successful, and the strong demand has resulted in more than 500K app sign-ups with partner Fight.id and funding at 100 times its initial target.
Participants in the Holoworld token sale will reportedly share 1% of the Fight token supply and be able to utilize the token to claim rewards, acquire merch, and engage meaningfully with the sport they love.
Interest in Fight is also at its highest at the moment. It has appeared in the Octagon at recent UFC events.
As for what comes after the token issuance, the creation of Fighthub is on the horizon. Fighthub will be a platform for fan loyalty programs; the Fight.ID system for wallets and digital identities; Prize Fight, a dedicated reward fund tied to each athlete’s journey; and Fight Gear, high-end clothing available only within the Fight network.
