VeChain announces partnership with UFC

VeChain, a well-known blockchain-based project, revealed in a press release on April 12th that gloves worn by UFC fighters will now include NFC chips to track fight data and provide irrefutable evidence of their authenticity using blockchain technology.

These newly developed gloves will feature VeChain near-field communication (NFC) chips, recording fight data to ensure the authenticity of each pair. After the fight, athletes will donate their gloves as collector's items, with buyers able to easily verify their authenticity through smart contracts on the VeChainThor network.

According to VeChain, this system aims to prevent fraud in the secondary market, which often affects buyers seeking to own gloves worn during specific UFC fights. The partnership utilizes tools from VeChain's ToolChain system, used by some enterprises for supply chain management to ensure products reach their intended recipients.

VeChain also announced that the first set of 12 exclusive gloves will be gifted to "A-list" celebrities, including Joe Rogan. Additionally, UFC CEO Dana White will make a live announcement of this partnership.

Community reactions to this innovation were mixed. While some enthusiasts expressed excitement about the new application of blockchain technology, others were more skeptical, suggesting that the amount of VeThor (VTHO) burned during transactions would not significantly impact the cryptocurrency's price.

Despite differing opinions within the community, this partnership marks another step in the application of blockchain technology in the sports industry. VeChain continues its mission of utilizing blockchain technology to solve real-world problems across various sectors, from logistics to sports.

*This is not a financial advice