BRAVE Combat Federation and Zamzam Token Co. have announced a collaboration to launch the first sports non-fungible token (NFT) collection in the Middle East. The former is a mixed martial arts promotion based in Bahrain while the latter is a a blockchain tech company registered in the Cayman Islands.
Revolutionizing the way digital assets and privacy work, NFT is a field growing within the blockchain industry, affecting the fields of art and sports. The NFT trend allows investors from all countries and territories to buy and hold unique items protected by blockchain technology.
“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,” BRAVE CF president Mohammed Shahid stated. “It’s our aim to remain at the front lines on a regional and global level.”
Shahid serves as the advisor to His Highness Shaikh Khalid bin Hamad AlKhalifa, the head of Bahrain Olympic Organization. The BRAVE CF president said, “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.”
In May 2022, Zamzam Token Co. minted the first Sharia compliant NFT with a 40-year-old dagger NFT known as AlSultan, which traces back as a gift from Sultan Qaboos, a previous ruler of Oman. The 24 carat dagger NFT began auction at $1 million.
“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,” Zamzam Token Co. founder and chief executive officer Hamed Fakhro stated. “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 are 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,” Fakhro continued. “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,” the Zamzam Token Co. founder added. “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.”