UFC-backed FIGHT token sale raises $183 million, surpassing the $1.5 million target

Foresight News reported that the official cryptocurrency FIGHT of UFC partner Fight.ID has raised $183 million in its token sale, surpassing its initial target of $1.5 million. This is the company's second token sale, following the October 27 event where it raised $15.7 million with a target of $750,000.

The Fight ecosystem aims to bring the interaction between combat sports fans and athletes onto the blockchain. The project is licensed by Concept Labs, which owns UFC-related intellectual property and sponsorship rights. The FIGHT token is built on the Solana platform and will serve as the native token of the ecosystem. Its use cases include governance, staking, and payments. Token holders can also participate in fantasy-style prediction markets related to UFC events. According to the tokenomics released by Fight, the total supply of FIGHT is capped at 10 billion tokens, with allocations including community incentives (57%), investors (17.5%), core team (15%), liquidity (6.5%), and advisors (4%).