Mike Tyson is well known for his capabilities inside the ring but going by the latest developments, it can be safely concluded that the award-winning boxer is quite deft in business skills too. The case in point is the newly announced entertainment platform: ‘Fight to Fame,’ which marks the entry of Mike Tyson as a businessman rather than a fighter. What makes this platform unique is its design architecture, which is based on blockchain technology.
It is a one-of-its-kind platform which allows the visitors to perform a range of activities in addition to facilitating fighters to move their way up in the ranks according to their performance.
Another attraction of the platform is its ability to connect visitors to the results on a real-time basis – one can play the matches as they happened in reality and even bet on the results as the match goes on.
Founding Team Members
Just so you know, Mike Tyson is the Founder Chairman of the sports and competition committee established for the development of Fight to Fame platform. Other prominent figures which are playing a key role include Farzam Kamalabadi (chief executive officer) and Tim Smithe who will be playing the role of a TV producer.
From these names, it can be safely concluded that the boxing matches will be broadcasted live and the artistic abilities of Tim Smithe are going to come handy during the process. An official statement from Mike Tyson reveals the inner motivation of the former world champion behind this new venture.
According to Tyson, it is his urge to guide, mentor, and motivate a new generation of boxers that led finally to the inception of this platform. He also said that this platform is going to provide a global stage and opportunities for the boxers, and he is very excited to start this new venture.
Much of the success of Fight to Fame is going to depend upon the seamless experience that blockchain technology is going to provide to visitors. This also explains the inclusion of Stan Larimer, who has been recruited as an expert knowing the nitty-gritty of cryptocurrency and blockchain technology.
Speaking on the occasion, the chief executive officer Farzam Kamalabadi emphasized on the aspect of innovation and stressed on the fact that through this platform that wealth will be generated from the masses but more importantly, it will be generated for the masses. All the money which will be earned from the people will ultimately flow back to stakeholders, which make it beneficial for all the parties involved in the process.
The platform will work on the ‘Fan Token Economy’ which helps it to strike a chord with the audience through active involvement and engagement process. The platform will also encourage the people to become part of the process and ultimately become a stakeholder in the business. An important criterion on which Fight to Fame is positioning itself is increased monetary benefits for the fighters.
In most of the cases including Ultimate Fighting Championship, fighters have a very minuscule share of the total fees getting only around 15% of the total match fee. Fight to Fame is committed to providing a better payout to fighters which will help in their economic revival. Add to this, the safety and security feature of blockchain technology which ensures transparent transactions of money, fortunes of fighters can really turn around with this upcoming platform. It is not yet clear when this Fight to Fame platform becomes available for participants, but speculations are rife that token offering in this regard will be released by the end of 2019.