In a fusion between technology and sport, VeChain entered into a partnership with the Ultimate Fighting Championship (UFC), where the gloves used by fighters will be tokenized. The announcement was made in the context of the upcoming UFC 300, scheduled for April 13, highlighting a significant advancement at the intersection of combat sports and cryptocurrencies.
The partnership sees the incorporation of VeChain near-field communication (NFC) chips into each pair of gloves. These chips have the ability to record significant data from fights and are essential for authenticating gloves through smart contracts in the blockchain VeChainThor. After the events, the gloves will be donated by the athletes, transforming them into collectibles due to the guarantee of authenticity and effective use.
The objective of this innovation is to provide a reliable solution against fraud in the secondary collectibles market, an increasingly common challenge in this niche. The technology used is part of VeChain's ToolChain system, which is widely used in supply chain management to ensure the origin and delivery of products.
Today marks a great step forward in our relationship with the @UFC!#VeChain powered NFC and blockchain technology will be integrated into fighter gloves, providing an immutable record usage, and ensures fans receive genuine products, authenticated by blockchain. pic.twitter.com/XFqdlmWqTU
— vechain (@vechainofficial) April 12, 2024
Furthermore, it was announced that an exclusive set of 12 gloves will be given to celebrities, notably Joe Rogan. UFC CEO Dana White confirmed that he will give a presentation detailing the partnership.
Within the crypto community, opinions are varied. In a VeChain Reddit thread, a user known as pez86 was excited about the new application of the technology, saying, “[We] will mint rwa gloves [real-world assets] as [non-fungible tokens] at every event from the UFC!” Another user, VETterDaysAhead, praised the gloves' new tracking possibilities.
However, not everyone is convinced of the impact of this initiative on the value of the VTHO token. A user named tkim91321 expressed skepticism, commenting derisively on the effectiveness of token burning compared to other larger initiatives.
VeChain, whose market value already exceeded US$283 million as of April 12, continues to expand its reach and relevance in the cryptocurrency space through significant strategic partnerships.
