According to a blog post from VeChain dated April 12, gloves worn by UFC fighters are set to undergo tokenization, with their identities tracked on the VeChainThor network.
Equipped with VeChain near-field communication (NFC) chips, these gloves will record fight data, ensuring the authenticity of each pair. Following the fights, the athletes will donate and distribute their gloves, transforming them into coveted collectors’ items. The embedded chips will enable buyers to verify the authenticity of the gloves via a VeChainThor network smart contract. These gloves are slated to debut at UFC 300, scheduled for April 13.
VeChain asserts that this system will help mitigate fraud in the secondary market, a prevalent issue for buyers seeking gloves worn during specific fights. Leveraging aspects of VeChain’s ToolChain system, an enterprise-grade supply-chain management solution, these gloves aim to ensure the proper tracking and delivery of items to their intended recipients.
VeChain announced that an initial set of 12 exclusive gloves will be presented to “A-list” celebrities, including Joe Rogan. UFC CEO Dana White will also make a live announcement to unveil this partnership.
The news sparked mixed reactions among holders of the VeChainThor (VTHO) token on VeChain’s Reddit board. While some expressed excitement over the network’s new use case, others raised concerns about the impact on VTHO burning. Despite differing opinions, the announcement signifies a significant development for the VeChain ecosystem.
As of April 12, VeThor’s market cap exceeded $283 million, positioning it among the top 300 cryptocurrencies globally. In June 2022, the VeChain Foundation initiated a $100 million sponsorship deal with UFC, signaling its commitment to innovation and partnership in the sports industry.
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