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 aims to tokenize and support the boxing industry.

The Olympic gold medalist has teamed up with Ukrainian-based cryptocurrency exchange Qmall to develop the Ready to Fight platform. The browser-based platform makes use of blockchain technology to help boxers tokenize their brands to receive donations and investments as well as a means to deliver exclusive content.

Ready to Fight introduces a novel means of supporting and connecting the wider boxing industry. The platform features a tokenomics ecosystem making use of its proprietary RTF tokens. Qmall is using a fork of the Ethereum blockchain to develop the in-house platform.

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

— Alexander Usyk (@usykaa) March 23, 2023

Boxers and promising athletes are able to register on the platform. Upon creation of their tokenized identity, a supply of 1,000,000 name tokens with a unique ticker is created. The boxer name tokens are frozen until a specific release through an initial dex offering (ICO) or until the boxer collects a specific amount of donations. 

Boxers are also obliged to reinvest earnings from the platform back into their boxing name token within five years. Boxer tokens are traded exclusively with the ecosystem’s RTF token, as are goods and services that are offered on the Ready to Fight platform. RTF tokens will be available through the Qmall exchange.

The Qmall team told Cointelegraph that the platform essentially gives users a stake in a chosen fighter’s prospective success. The value of the fighter tokens in relation RTF will be dependent on a fighter’s success as their careers progress and the increased community interest. 

While fans and investors can help support their favourite boxers through donations and name token purchases, the ecosystem also promises to provide the functionality for boxers to access and pay for services like professional trainers, sparring partners, physiotherapists and nutritionists and agents using accrued RTF tokens.

Cointelegraph also reached out to Usyk to find…