PFL, the main rival to the UFC, adopts NFT Tickets for Live Events
The Professional Fighters League (PFL) is transforming the mixed martial arts (MMA) industry by implementing nonfungible tokens (NFTs) as its cutting-edge ticketing solution. MMA fans will soon be able to buy NFT tickets to watch Francis Ngannou, the lineal heavyweight champion of the UFC, fight live in the upcoming PFL live events.
PFL joins web3
The PFL has partnered with Web3 company CrossTower to revolutionize ticketing using Ripple’s XRP Ledger. As the 2023 fighting season kicks off, the PFL will introduce NFT tickets, showcasing a major achievement as the league embarks on its fifth year.
The NFT ticket holders will be treated to an array of captivating enhancements, including prime seats by the cage, entry to pre-fight weigh-ins, opportunities to meet renowned fighters up close, immersive ring walk encounters, and numerous other exciting features, making their ticketing experience truly exceptional.
The signing of former UFC Champion Francis Ngannou
PFL seems to be investing heavily in bringing its league to the masses. The company recently signed Francis Ngannou, the lineal UFC Heavyweight champion who became the first fighter to leave the organization as champion. The signing of the contract is a slap to the face of the UFC, as the disputedly best heavyweight in the world is now fighting for another organization.
There are also ongoing rumors that PFL and ONE Championship, the largest MMA organization in Asia, are interested in buying their competitor, Bellator. This purchase could fuel a dispute over the UFC’s monopoly over the MMA industry.
Leveraging the power of XRP
Highlighting the potential of the XRP Ledger, CrossTower CEO Kapil Rathi emphasized its impressive capabilities as the driving force behind the NFT tickets. Powered by this open-source, decentralized blockchain, which boasts enterprise-grade scalability and efficiency while promoting sustainability, the XRP Ledger serves as a resilient framework for the solution. Furthermore, its support from a thriving global developer community ensures a strong foundation for the project.
Combating counterfeiting and scalping
Although NFT ticketing is not a novel concept, its capacity to combat issues like counterfeiting, ticket scalping, and illicit market transactions has been extensively investigated. That is why Sports Illustrated recently unveiled its groundbreaking ticketing solution, Box Office.
Beyond the added security measures that NFTs offer, the PFL aims to also use digital assets as a way to enhance the fan experience and set a remarkable precedent for other sports organizations to emulate.