VeChain, a blockchain platform, introduced a risky project in cooperation with the Ultimate Fighting Championship (UFC) by proposing tokenized gloves for UFC fighters. With the use of Vechain’s Near Field Communication (NFC) chips, the gloves will store combat log data and ensure the authenticity of each pair.Â
The Program will target endemic fraud activity on the after-market for UFC memorabilia. The Fighters are having these smart gloves garnet with NFC ones from UFC 300 on April 13. Subsequently, the gloves used in the matches will be donated by the athletes, and after they are transformed into distinctive collectible items they will be sold to enthusiasts who will then buy and value them.
Such smart contracts on the VeChainThor network assure the potential buyers of the validity of these gloves to avoid cases of fraudulent acts.The ToolChain system of VeChain, which is in charge of the supply chain, is implemented to eliminate intermediaries and enable things to be successfully delivered.
The first batch of 12 gloves will be given to celebrities like Joe Rogan, and the UFC CEO Dana White who will make a live broadcast to announce the partnership.
