UFC has entered the NFT game.
On Thursday, UFC announced their new “UFC Strike” series, which will provide video clips of fights in an NFT form.
UFC has launched the service in partnership with Dapper Labs, a company that most notably helped the “NBA Top Shot” series to take off in 2020. In 2017, Dapper Labs also created “CryptoKitties,” a game that is recognized by many as one of the first successful ventures into the commercial NFT market.
“UFC Strike” is set to kick off later this week, as 100,000 “Packs” will be sold at the price of $50 each.
Each customer who purchases a “Pack” will get three of the 35 “UFC Strike Moment NFTs,” which could vary in rarity. The rarest NFTs, called “Champion Tier Moments,” will have a 0.3 percent chance of being in a pack that people buy.
Limitations will be in place for the first wave of purchases. Customers will be limited to purchasing a maximum of 5 “Packs” and will have to re-enter the queue for each singular purchase.
NFTs, an acronym that stands for “Non-Fungible Token,” are online items that are given distinct codes to identify how they are all individual. This gives people the ability to claim ownership of their NFTs, place an economic value on them, and make transactions with them online.
NFTs have been criticized in the past for their carbon footprint and how they attempt to make collector’s items out of digital properties that don’t exist in a physical form.