UFC announced last week that it was going to be launching its first round of NFTs, and it went about as well as it possibly couldâve.
The promotion had the NFT drop set for the day following UFC 270. While fans were excited to see Francis Ngannou retain his heavyweight championship with a win over Ciryl Gane at the event, many fans were more excited about the promotion finally jumping into the world of Non-fungible tokens.
The promotion was dubbed âUFC Strikeâ, and had 100,000 available NFT packs for sale. Fans spent $50 in order to get three collectible NFTs of popular UFC moments. In a somewhat rare move, UFC and the fighters featured in the NFT drop split the earnings at a 50/50 rate.
Well, the first round of the UFC Strike NFTs sold out on the first day, with all 100,000 packs selling out within hours of the launch. The UFC reportedly netted a $5 million dollar profit from the first batch being sold. As a result, an average fighterâs share of the cut would be approximately $18,000.
However, there were certain fighters that were featured twice in the initial NFT drop. Fighters such as UFC heavyweight champion Francis Ngannou and UFC lightweight contender Michael Chandler were both featured twice and will be taking home double the average amount as a result. With the men cashing out at $36,000.
Itâs also worth noting that those figures are only from the UFCâs first drop of the NFTs. Secondary sales will add to the fighterâs payout in the future, and the UFC is planning a second drop within the next week. That launch is expected to have double the amount of packs for sale, with 200,000 expected to be for sale on the official UFC Strike website.
Wolf tickets
People who follow this know it was always going to sell out, thatâs how it works. Itâs not a big story there.
Been reading some stuff to see reactions of people in this world and they donât seem too excited.
For the NBA releases on the same platform it was near impossible to get any packs at all with hundreds of thousands of people in the queue for like 100,000 packs.
For this UFC one people were saying they bought their packs then were able to immediately buy again like 3 or 4 times in a row after re-queuing. There werenât a lot of people in on this at all.
All money is good money but people will make more of this than it is.
I donât understand what any of this means.
They sold packs of 3 licensed fight gifs numbered out of like 23,000 for $50 a pack.
Half the money went to UFC who paid fighters half.
Fighters got $18,000 if they were involved.
People think NFTs are some wild confusing Ponzi scheme but people that make money off the suckers will tell you theyâre the future.
GIFs? Like the moving images we post? People buy 3 of those for $50?
Iâm not being facetious, I completely missed out on this NFT thing.
I almost grabbed a few packs. But after looking at the âStrikesâ I thought better of it.
The NFTs of value come with perks and incentives to buy and hold. From what I saw the buyer just got 3 moments per pack.
People will buy anything.
Itâs literally what they are, yes.
Because they are officially licensed and âlimitedâ to âonlyâ 23,000 per gif, people are paying $50 for 3, yes.
Thereâs a 1% chance you get one out of 7 I think?
Youâll see stories of someone selling one for some stupid amount of money but it will not be the norm at all. Some sales have been baffling and can only be explained as a way to launder money.
There were obvious side deals on the NBA side where youâd see some gif #/35,000 of a shitty player sell for $50,000 somehow when every other one of those 35,000 same gifs sold for like $3.
Then you see stories of how the company behind this, dapper, was making it difficult to cash out your âdappercoinâ, so when people with big bucks wanted out theyâd work side deals where they would âbuyâ the card off someone for $50,000 in dappercoin while that seller gave them $50,000 in cash outside the platform. Person who wants more dappercoin gets it and person who wants to cash out gets it and now everyone talks about the âhugeâ sale that was really empty.
I donât get it either.
Some people make legit money, some launder, most will get left holding the bag on this shit.
It really didnât seem to offer muchâŠno McGregors or anyone like that to carry value with the masses. A bunch of less popular names is what I saw at a glance.
Keep an eye on the product because the perks and incentives will come. I have been doing the NBA equivalent since last March and they really have some interesting stuff going one. All kinds of random giveaways. They also do daily fantasy games using your collection for prizes (no entry), all kinds of challenges for prizes. A built in marketplace will come soon enough.
In the future they surely will have stuff tied into fight nights and will enhance the experience for sure. This stuff could be a game changer for sports fandom.
Paying 50 bucks for shit thatâs on YouTube, dumb
What an interesting hot take wow