The UFC’s interest in NFTs is most likely due to the success of the NBA’s Top Shot NFT marketplace, which allows basketball fans to purchase video highlights from the league’s history. The Top Shot NFTs can be anything from a Kevin Durant three-pointer to a LeBron James dunk. In 2019, the promotion reported $900m in revenue, but only 16% was paid out to the UFC’s approximately 600 fighters. The UFC’s stranglehold over its fighters led to a half-dozen former UFC fighters filing a $5bn antitrust lawsuit against UFC’s parent company, Zuffa LLC, in December 2014. However, until the suit is concluded, it is unlikely that UFC fighters will have any increased bargaining rights or control over their likeness.

Source: The Guardian May 11, 2021 09:00 UTC