Heavyweight champ Oleksandr Usyk seeks to tokenize boxers’ careers

IBF, WBO and WBA heavyweight boxing champion Oleksandr Usyk has put his weight behind a blockchain platform that goals to tokenize and assist the boxing trade.

The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency trade Qmall to develop the “Able to Struggle” platform. The browser-based platform makes use of blockchain expertise to assist boxers tokenize their manufacturers to obtain donations and investments, in addition to a way to ship unique content material.

Able to Struggle introduces a novel technique of supporting and connecting the broader boxing trade. The platform incorporates a tokenomics ecosystem making use of its proprietary RTF tokens. Qmall is utilizing a fork of the Ethereum blockchain to develop the in-house platform.

#CRYPTO meets #BOXING! The groups of @usykaa, Lapin, & @QmallExchange unite to revolutionize the boxing trade. @rtfight_com – the world’s 1st blockchain platform for boxing! Free registration and infinite potentialities for boxers, followers, coaches.
https://t.co/DbsoDwuaGs pic.twitter.com/zrHRaISW8H

— Alexander Usyk (@usykaa) March 23, 2023

Boxers and promising athletes are in a position to register on the platform. Upon creation of their tokenized id, a provide of 1 million identify tokens with a singular ticker is created. The boxer identify tokens are frozen till a particular launch by an preliminary dex providing (IDO) or till the boxer collects a certain quantity of donations. 

Boxers are additionally obliged to reinvest earnings from the platform again into their boxing identify token inside 5 years. Boxer tokens are traded solely with the ecosystem’s RTF token, as are items and providers which are supplied on the Able to Struggle platform. RTF tokens can be obtainable by the Qmall trade.

The Qmall crew instructed Cointelegraph that the platform primarily provides customers a stake in a selected fighter’s potential success. The fighter tokens’ worth to RTF will rely on a fighter’s success as their careers progress and enhance group curiosity. 

Whereas followers and traders may also help assist their favourite boxers by donations and identify token purchases, the ecosystem additionally guarantees to offer the performance for fighters to entry and pay for providers like skilled trainers, sparring companions, physiotherapists and nutritionists, and brokers utilizing accrued RTF tokens.

Cointelegraph additionally reached out to Usyk to learn the way blockchain expertise can help boxers in funding careers in a occupation with quite a few hurdles.

“The issue for a lot of aspiring boxers is that though they’re killing themselves within the health club, they don’t have the connections or skill to discover a crew that may signify them, and even when they do, most significantly, few can afford it.”

The 2012 Olympic gold medallist believes blockchain-powered platforms can stage the taking part in area, permitting boxers to construct new connections by a supportive group. Fighters can concentrate on coaching whereas the tokenomics of the ecosystem gives an avenue to fund their careers.

Usyk explains that the cryptocurrency area can also be creating new alternatives for a variety of industries that weren’t attainable 5 or 10 years in the past.

“I perceive and respect the philosophy behind it — democratizing how folks use and transfer cash and providers; it’s altering the world and might create fairer programs, with boxing being no exception.”

Usyk stated he would lean on Qmall’s experience as a cryptocurrency trade and nonfungible token (NFT) market supplier to iron out the particular tokenomics of the mission and its longevity.

The Qmall crew additionally highlighted the platform’s concentrate on three key pillars: social, commerce and funding. The platform inherently capabilities as a social community, already that includes up-to-date unique information, characteristic and evergreen content material curated by its editorial crew. The platform additionally goals to be a supply of unique information and insider data from the boxing trade. 

A cell utility for the platform is at the moment in improvement for each Android and iOS units.

The 36-year-old Ukrainian heavyweight has beforehand tapped into the cryptocurrency area, launching an NFT collection in August 2022 aimed toward elevating funds for the continued battle with Russia in his nation.