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The previous heavyweight boxing champion Mike Tyson, in his usual character, has decided to give back to the boxing community by empowering young fighters via blockchain technology.
To create a brighter future for boxing fighters, one where they get to earn more, save more and enjoy a wider global recognition, Tyson joined hands with a blockchain-based entertainment platform, Fight to Fame, which is poised to do just that – help fighters fight their way to fame. Tyson released the following statement regarding the new partnership:
“As a seasoned fighter, I want to mentor future generations, especially future action stars and make sure there’s a path to career success and fair compensation. Building this global platform for them is a passion of mine.”
The goal is to find talented fighters from several competitions and push them further towards the mainstream via the firm’s social media platforms, games, betting, live matches, and reality TV shows. So, the first step is to identify a talented fighter, then the fighter gets trained by the likes of Tyson and then presented to the world in hopes of increasing global awareness and acceptance.
Besides helping these fighters to live their dreams, Fight to Fame also promises to help them earn more and save more.
The chief executive officer of Fight to Fame, Farzam Kamalabadi, explained that this is a great opportunity for fighters and shareholders. Currently, fighters with companies such as the UFC are given only 15% of their take after many fees have been deducted. With a highly transparent blockchain platform such as Fight to Fame, the athletes get to go home with a huge share of their earning while enjoying other side benefits. It is an all-win game.
When asked why blockchain is the right solution, Kamalabadi explained that blockchain technology is the only way to bring this gigantic dream to fruition. “Blockchain solves the empowerment that didn’t exist in the internet era,” he stressed. “This is about wealth generation from the masses, but back to the masses through all the participants and stakeholders. So it is not just win-win. This is multiple wins for all the stakeholders.”
The blockchain-powered entertainment startup also plans on holding an initial coin offering (ICO) for its FF token, which is aimed at increasing fan engagement in the platform.
Confusion Regarding Tyson’s Role in the Blockchain Project
Kamalabadi additionally divulged that Mike Tyson is the founder and chairman of the sports and competition committee. However, the news sprouted some altercation between the startup and Tyson’s personal publicist Joann Mignano who refuted the claim, stating that Tyson is only a shareholder in the firm. Mignano made it clear the Tyson has no part in the committee or any other activity of the firm. He is only a shareholder in Fight to Fame. He argued:
“This was not a full contract detailing his televised role or payment beyond shares. We had a conversation about a possible token but never had authority to launch this token without Mike’s consent and a detailed contract.”
Reacting to that, the entertainment startup released a statement, saying:
“Any mistaken accusations regarding Fight to Fame and Mike Tyson’s involvement are unfounded. Mr. Tyson has been instrumental in shaping the vision to bring the next generation of fighters to Hollywood through Fight to Fame. For over a year, he has been involved with the company, including promoting Fight to Fame in videos and events. We have acted only in good faith and have provided evidence to the select media to verify this relationship, including a signed contract. We are confident any misunderstandings will be resolved promptly.”
Whether or not Tyson is more involved with this new blockchain initiative, it would be fascinating to see how blockchain can assist boxing athletes on their way to the top.