After coming up short in two rounds in the blockchain industry arena, former heavyweight boxing champion of the world, Mike Tyson, is back for more.
His latest venture is a startup called Fight 2 Fame, which aims to combine the spectacle of prize fighting with the spectacle of cryptocurrency—all on a single platform.
Details are scarce on Tyson’s latest foray into crypto, but what we do know is this: The company apparently seeks to provide a new way for fighters to earn a more equitable portion of the profits generated from a match, drum up social-media promotions, broadcast upcoming fights, and even encourage a little gambling.
The use of blockchain, the thinking goes, would provide greater transparency and a more efficient distribution of resources.
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For the project, Tyson is teaming up with “influencer” Farzam Kamalabadi, who will act as CEO, self-professed two-time Emmy Award winner Tim Smithe, and Stan “Godfather of Bitshares” Larimer—the requisite “blockchain expert.”
The idea, Kamalabadi told VentureBeat, is to “take the talent, discover them, put them in the sporting competitions globally, and once they show the talent put them in the dramatic TV reality shows.”
So where does blockchain come into play? Beyond a means to provide transparency in the whole money-flow process, users will be able to bet using the platform’s native digital currency, “FF”—which, in theory, should automatically distribute earnings (perhaps via a smart contract).
Of course, this isn’t Tyson’s first fight in the crypto ring, and the others didn’t go so well. In 2015, Tyson launched “Mike Tyson Bitcoin ATM,” which promised to “turn your cash into Bitcoin in under 20 seconds.” After a fantastic failure, the tireless boxer returned a year later, when he released the “Mike Tyson Crypto Wallet”—a fork of Copay, with a very Tyson-esque theme. This, too, was unsuccessful.
So, will third time be lucky? It’s too soon to tell. Blockchain startups will notoriously promise to “revolutionize” every industry imaginable. But despite Tyson’s determination, he’s definitely the underdog in this fight.