BRAVE Combat Federation and Zamzam Token Co. a blockchain tech company have announced a collaboration to launch the first sports NFT collection in the Middle East.
Non-fungible tokens, known as NFTs, are a field growing within the blockchain industry and are revolutionizing the way digital assets and privacy work, mainly affecting the fields of art and sports.
The NFT trend globally allows investors to buy and hold unique items protected by blockchain technology, and on this occasion said the advisor to His Highness Shaikh Khalid bin Hamad AlKhalifa head of Bahrain Olympic Organization and president of BRAVE Combat Federation Mr. Mohammed Shahid: "We strive to always be at the forefront of innovation and best practices in all fields, especially when it comes to the technological forefront between sports and tech industry. It's our aim to remain at the front lines on a regional and global level."
Mr. Shahid added: "In collaboration with our new partners Zamzam, we strive to enter the world of NFT in a major way, embracing their innovative style of delivery with our global best practices. As we leverage our individual strengths, we believe our global growth will be exponential."
Founder and CEO of Zamzam Token Co. Hamed Fakhro said: "It's an absolute honor and pleasure to partner with such a leader in the sports international arena, and BRAVE CF has demonstrated that explosive global growth is possible when you have a target and solid mindset."
He added: "Bahrain once again pioneers in the world of Fintech, and we're in line with our leadership's vision to remain a regional leader in blockchain and technology. The current NFT market is $3 billion and is estimated to reach $13.6 billion by 2027. We hope to retain a nice slice of that growing market, and we estimate the value at $20 million in the first year.
"This partnership will multiply our potential as an organization and as a sport. This collaboration is more than an NFT collection. It's a technological statement. A revolution. NFTs are much more than images and collectible digital art. We believe that the technology of NFTs opens the doorway to celebrate humanity. A way to connect ideas with reality in an exciting way, which is why we decided to launch our NFT project by rewarding the pioneers in sport and technology.
Zamzam Minted the first Sharia compliant NFT with a 40-year-old dagger NFT known as "AlSultan" in May 2022, which traces back as a gift from Sultan Qaboos, previous ruler of Oman. The 24 Carat Dagger NFT began auction at $1 million.
The mission of BRAVE CF is to showcase talents of the fastest growing sport in the world, MMA, from around the globe, as well as athletes' struggle, hardship, and journey to becoming the best in the world. Due to a lack of marketability, a lot of MMA fighters around the world do not get a chance to compete on a global platform. This is where BRAVE CF comes in to help out these fighters.
Since its establishment in 2016, BRAVE CF has hosted 61 events in 28 countries, making the organization one of the most-traveled MMA promotions on the globe. BRAVE CF seeks out the best talents from around the world and provides them with a global platform to not only showcase their talents but also represent their country on a superior level.