Indian Boxing Council partners with TIAR to launch NFTs

The Indian boxing board, a supervisory body for professional boxing in this country, has been tied with the Indian Art Revolution (Tiar) to launch NFFTs. This will include artwork, player profiles, and key moments of sports.

Non-fungible (NFTS) tokens are data storage units through digital ledgers, known as blockchains that can be sold and traded in the digital market.

The Indian boxing board said in a statement that the NFTS Tiars Boxing will include the main moments of Indian professional boxing scenes, Avatars and Boxer cards for Metafeverse.

In the case of the declaration, the IBC President Brigadier (RPD) PK Muralidharan King said that as the National Commission, their first priority was the safety and welfare of their boxers.

He further said that Tiet with Tiar would be a big step to ensure a stable source of income for boxers. Boxing promoters will now see other ways of new income added to their balance sheet.

Metaverse Tiar will form an autonomous organizational regulatory system (DAO) that is decentralized, which will notify the community about the venue, ticket prices, and boxers they want to see in a professional event.

CEO and CO-Founder Tiar, Akshar said to PTI, “NFT boxing will work well the paid channel per boxing tiar. Tiar will work to build a strong boxing community in India and NFTS is a powerful tool to bring fans closer to sports Of course. “

The agreement between the IBC and Tiar is a multi-year income division model that aims to produce monetary value for boxers, promoters, and other stakeholders involved in professional boxing ecosystems in India.