VeChain Announces Tokenized Gloves in Partnership with UFC – Community Response
According to VeChain's April 12 blog post, gloves worn by UFC fighters will soon be marked and their identities tracked on the VeChainThor network.
The gloves contain VeChain's near-field communication (NFC) chips that ensure the authenticity of each pair. After the fight, the athletes “donate and give away” their gloves and turn them into collector's items. The chips in each pair allow a buyer to verify the authenticity of the item through the smart contract of the VeChainThor network. Warriors begin to dress. Gauntlet at UFC 300, which is scheduled for April 13.
VeChain said in the article that the system will help prevent fraud in the secondary market, which is a common problem for buyers who want to own the gloves worn during special fights. The new items will use aspects of VeChain's ToolChain system, which some enterprises use to track items and make sure they make it to the intended recipient.
VeChain has announced that it will be giving away an initial batch of 12 exclusive gloves to “A-list” celebrities, including Joe Rogan. UFC CEO Dana White will host a live event to announce the partnership.
VChainThor (VTHO) token holders on VChain's Reddit board had mixed reactions to the news. Some are excited for the new use case for the network. “[W]Rwanda is about to leave. [real world asset] Like gloves [non-fungible tokens] Every ufc event!” said pez86. Another user, VETterDaysAhead, viewed the ad as positive, saying, “Gloves and merchandise tracking are great. Hope they do QR code scanning on TV for events that fire up VTHO.” 🔥🔥🔥”
Related: What is VeChain, and how does it work?
But not everyone was impressed. Some users thought the new gloves didn't burn enough VTHO from transaction fees to have any appreciable impact on the price. “Hey man, that's like burning a total of 10 VTHO a year. UFC will take advantage of Walmart China,” tkim91321 said in a sarcastic response to another user who complained about overpriced advertising.
In another post, tkim91321 explained their position, asking, “And how many VTHO does this burn per month?” they asked rhetorically. And then, “There is nothing materially worthwhile.
According to Coinmarketcap data, VeThor's market cap as of April 12 was over $283 million, making it one of the top 300 cryptocurrencies in the world. In May 2022, the Network Foundation had $1.2 billion in treasury. In June of the same year, the VeChain Foundation began its relationship with the UFC with a $100 million sponsorship deal with the mixed martial arts promotion.
